(Sharecast News) - Wall Street trading got off to a mixed start on Tuesday as traders turned their attention to a flurry of corporate earnings.
As of 1445 BST, the Dow Jones Industrial Average was down 0.06% at 44,810.79, while the S&P 500 advanced 0.15% to 6,399.38 and the Nasdaq Composite came out of the gate 0.39% firmer at 21,261.52.
The Dow opened 26.77 points lower on Tuesday, extending losses recorded in the previous session despite Donald Trump's announcement that the US had struck a trade deal with the European Union.
Corporate earnings have taken centre stage on Tuesday, with UnitedHealth warning that FY25 earnings would be worse than expected as its insurance unit continued to battle with higher medical costs, while UPS reported a drop in both revenue and profits in Q2, and Merck & Co narrowed its FY outlook as it announced plans to slash $3.0bn in costs by the end of 2027.
Spotify said Q3 profits would fall short of Wall Street expectations as higher taxes related to employee salaries offset heightened demand for its streaming plans, while Royal Caribbean Q2 earnings came in ahead of expectations despite posting revenues that disappointed, Boeing revealed that Q2 losses had narrowed to $611.0m as revenues rose on increased deliveries.
Procter & Gamble quarterly earnings came in $0.06 ahead of estimates as the group hiked US prices amid ongoing tariff woes, while PayPal delivered a quarterly earnings beat and raised FY guidance despite increased expenses in Q2.
Visa, Booking Holdings, and Starbucks were all slated to report earnings before the end of the day.
On the macro front, US wholesale inventories ticked up 0.2% month-on-month to $907.7bn in June, according to the Census Bureau, rebounding from May's 0.3% decrease and exceeding market expectations of a 0.1% decline.
On another note, the US trade deficit in goods narrowed by $10.4bn to $86.0bn in June, according to preliminary estimates from the Census Bureau, firmly below expectations of a softer decline to $98.4bn.
Elsewhere, a leading indicator of house prices in the United States showed that price inflation picked up in May. The widely followed S&P CoreLogic Case-Shiller 20-city home price index increased to 342.97 points in May, up from 341.55 points in April.
Still to come, June's JOLTS job openings report and July consumer confidence figures will be released at 1500 BST.
The Federal Reserve will kick off its two-day policy meeting on Tuesday, with the central bank widely expected to keep its benchmark overnight policy rate steady in a range of 4.25% to 4.5%.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Travelers Company Inc. (TRV) $254.91 0.00%
Goldman Sachs Group Inc. (GS) $723.65 0.00%
Walgreens Boots Alliance, Inc. (WBA) $11.63 0.00%
Walmart Inc. (WMT) $97.61 0.00%
International Business Machines Corporation (CDI) (IBM) $263.21 0.00%
Apple Inc. (AAPL) $214.05 0.00%
McDonald's Corp. (MCD) $299.22 0.00%
Boeing Co. (BA) $236.41 0.00%
Intel Corp. (INTC) $20.68 0.00%
3M Co. (MMM) $152.05 0.00%
Dow Jones - Fallers
Walgreens Boots Alliance, Inc. (WBA) $11.63 0.00%
Walmart Inc. (WMT) $97.61 0.00%
International Business Machines Corporation (CDI) (IBM) $263.21 0.00%
Verizon Communications Inc. (VZ) $42.36 0.00%
Procter & Gamble Co. (PG) $157.11 0.00%
Intel Corp. (INTC) $20.68 0.00%
3M Co. (MMM) $152.05 0.00%
Coca-Cola Co. (KO) $68.09 0.00%
Amgen Inc. (AMGN) $301.29 0.00%
JP Morgan Chase & Co. (JPM) $298.28 0.00%
S&P 500 - Risers
Viacom Inc. Class B (VIAB) $0.00 0.00%
Marriott International - Class A (MAR) $275.79 0.00%
Lam Research Corp. (LRCX) $98.62 0.00%
Target Corp. (TGT) $106.43 0.00%
Ecolab Inc. (ECL) $269.99 0.00%
Western Digital Corp. (WDC) $68.99 0.00%
L3Harris Technologies Inc. (LHX) $269.47 0.00%
Motorola Solutions Inc (MSI) $429.97 0.00%
American Express Co. (AXP) $310.74 0.00%
Celanese Corp. (CE) $57.91 0.00%
S&P 500 - Fallers
Viacom Inc. Class B (VIAB) $0.00 0.00%
Marriott International - Class A (MAR) $275.79 0.00%
Lam Research Corp. (LRCX) $98.62 0.00%
Target Corp. (TGT) $106.43 0.00%
Ecolab Inc. (ECL) $269.99 0.00%
Western Digital Corp. (WDC) $68.99 0.00%
L3Harris Technologies Inc. (LHX) $269.47 0.00%
Motorola Solutions Inc (MSI) $429.97 0.00%
American Express Co. (AXP) $310.74 0.00%
Celanese Corp. (CE) $57.91 0.00%
Nasdaq 100 - Risers
Analog Devices Inc. (ADI) $230.77 0.00%
Hasbro Inc (HAS) $76.30 0.00%
Gilead Sciences Inc. (GILD) $113.03 0.00%
Vertex Pharmaceuticals Inc. (VRTX) $460.83 0.00%
Marriott International - Class A (MAR) $275.79 0.00%
Cognizant Technology Solutions Corp. (CTSH) $75.42 0.00%
Alphabet Inc. Class A (GOOGL) $192.58 0.00%
Workday, Inc. (WDAY) $238.04 0.00%
eBay Inc. (EBAY) $79.00 0.00%
Sirius XM Holdings Inc (SIRI) $23.45 0.00%
Nasdaq 100 - Fallers
Netflix Inc. (NFLX) $1,174.60 0.00%
Mylan Inc. (MYL) $0.00 0.00%
Electronic Arts Inc. (EA) $151.99 0.00%
Gen Digital Inc. (GEN) $30.52 0.00%
Alphabet Inc. Class C (GOOG) $193.42 0.00%
Trip.com Group Limited (TCOM) $63.50 0.00%
Hologic Inc. (HOLX) $65.69 0.00%
Texas Instruments Inc (TXN) $189.25 0.00%
Paypal Holdings Inc (PYPL) $78.22 0.00%
Costco Wholesale Corp. (COST) $933.99 0.00%
64.23 (0.70%)
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