Reuters, the Wall Street Journal, AP, Investor’s Business Daily, Bloomberg, and CNBC contributed to this report.
Wall Street finished split on Tuesday: the Dow climbed 0.47%, the S&P 500 was basically flat, and the Nasdaq faded 0.16% as chip and megacap tech cooled.
Earnings did the heavy lifting. Coca-Cola beat Q3 estimates and gained, while a strong run from defense names — Lockheed Martin, Northrop Grumman and RTX — pushed aerospace stocks higher. General Motors and 3M added juice to the Dow with upbeat results and guidance.
Media was lively too: Warner Bros. Discovery jumped after launching a strategic review that could include a sale. After the bell, Netflix shares fell in extended trading following its quarterly report, weighing on the growth trade.
Under the hood, consumer discretionary and industrials led the S&P 500; utilities lagged. With indexes hovering near records and valuations tight, investors are cherry-picking beats and shrugging at misses while they wait for the next wave — Tesla, IBM, P&G and Intel later this week — and fresh inflation clues amid the data blackout from the government shutdown.
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