NEW YORK: Wall Street stocks were little changed early Tuesday as China retaliated against US tariffs and large companies reported mixed earnings.
China said it would impose tariffs on imports of US energy, vehicles and equipment in response to 10 percent levies on Chinese goods announced by US President Donald Trump over the weekend.
The move keeps Washington’s unpredictable trade policy at the center of investor focus, likely leading to more volatility.
About 10 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 44,361.18.
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The broad-based S&P 500 added 0.1 percent at 6,000.11, while the tech-rich Nasdaq Composite Index gained 0.4 percent to 19,469.78.
Among individual companies, Estee Lauder slumped nearly 10 percent after announcing plans to cut between 5,800 and 7,000 jobs through the end of 2026 as part of a corporate reorganization.
PepsiCo dropped 2.5 percent as it reported flat quarterly sales while the soda and snacks giant works to address “subdued” demand in North America and faces “business disruptions due to geopolitical tensions in certain international markets,” as CEO Ramon Laguarta said in a news release.
But Pfizer gained 1.8 percent as the drugmaker reported better than expected results, pointing to growth of several non-Covid-19 products that offset continued declines in Covid-19 vaccine sales.
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