NEW YORK: Wall Street stocks treaded water early Tuesday following mixed corporate earnings, while Disney moved lower after announcing a new CEO.
Shares of Palantir shot higher on a near doubling of revenues tied to artificial intelligence products, while Pfizer slumped on a quarterly loss and after disclosing it again doesn’t plan to buy back stock in 2026.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.4 percent at 49,592.53.
The broad-based S&P 500 added 0.1 percent at 6,980.99, while the tech-rich Nasdaq Composite Index dipped 0.1 percent to 23,562.13.
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The sideways movement came after US stocks advanced Monday.
Markets are digesting the fact that key monthly jobs data expected Friday will be delayed due to a partial government shutdown.
“Earnings are coming out, some stocks are reporting negative earnings and going down, which is normal, but for the most part, the market refuses to budge,” said Adam Sarhan of 50 Park Investments.
Disney dropped 1.6 percent after naming parks division chief Josh D’Amaro as its new CEO when longtime leader Bob Iger steps down in March.