NEW YORK: Wall Street stocks were mixed early Tuesday as markets digested a trove of earnings reports that underscored the uncertainty facing corporate America due to Donald Trump’s trade policy.
Shares of General Motors dropped 3.0 percent as it reported better than expected profits but said it was reassessing its forecast due to the tariffs outlook.
UPS, meanwhile, rose 1.0 percent after announcing plans to cut 20,000 positions worldwide in 2025 following a significant drop in business for Amazon. The shipping company described the macro environment as “uncertain.”
Megacaps drag Wall St lower as traders brace for earnings
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 40,343.21.
The broad-based S&P 500 declined 0.3 percent to 5,513.23, while the tech-rich Nasdaq Composite Index shed 0.5 percent to 17,274.72.
US stocks moved sideways on Monday following four straight positive sessions as markets await major economic data later in the week that will shed light on whether weakening consumer confidence translates into a decline in the labor market.
Tech giants Apple and Meta are also scheduled to report earnings later in the week.
Comments
Comments are closed for this article.