US close: Stocks mixed as traders digest more Q4 earnings
Wall Street stocks delivered a mixed performance on Tuesday as market participants digested more corporate earnings.
At the close, the Dow Jones Industrial Average was down 1.14% at 33,910.85, while the S&P 500 slipped 0.20% to 3,990.97 and the Nasdaq Composite saw out the session 0.14% firmer at 11,095.11.
The Dow closed 391.76 points lower on Tuesday, easily erasing gains recorded before the long weekend.
Corporate earnings were again in focus on Tuesday, with financial services company Morgan Stanley posting fourth-quarter earnings that beat expectations, driven by record revenues in its wealth management unit.
Elsewhere, Goldman Sachs reported a marked decline in fourth-quarter earnings, principally due to a massive increase in credit provisions in the period, while United Airlines expects full-year profits to quadruple in 2023 amid limited industry capacity.
On the macro front, factory sector activity in the New York area fell sharply at the start of 2023, with the Federal Reserve Bank of New York's factory sector index plummeting from a reading of -11.2 in December to -32.9 for January. Economists had pencilled-in a reading of -8.7.
On another note, Federal Reserve Bank of New York president John Williams said on Tuesday that the economy will fare better when all US citizens have a chance at participating.
"An inclusive economy doesn't just help those that are in need of more or different opportunities, rather, it boosts the economy more broadly," Williams said.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
McDonald's Corp. (MCD) $274.11 1.94%
Chevron Corp. (CVX) $180.49 1.65%
Apple Inc. (AAPL) $135.94 0.88%
Walt Disney Co. (DIS) $99.91 0.51%
Microsoft Corp. (MSFT) $240.35 0.47%
Coca-Cola Co. (KO) $61.68 0.41%
Dowdupont Inc. (DWDP) $0.00 0.00%
Honeywell International Inc. (HON) $0.00 0.00%
Visa Inc. (V) $223.00 -0.03%
Procter & Gamble Co. (PG) $150.44 -0.29%
Dow Jones - Fallers
Goldman Sachs Group Inc. (GS) $349.92 -6.44%
Travelers Company Inc. (TRV) $185.00 -4.60%
Verizon Communications Inc. (VZ) $40.85 -2.41%
3M Co. (MMM) $126.60 -2.25%
Dow Chemical Co. (DOW) $57.40 -2.18%
Intel Corp. (INTC) $29.60 -1.69%
Cisco Systems Inc. (CSCO) $48.08 -1.64%
Merck & Co. Inc. (MRK) $110.45 -1.60%
JP Morgan Chase & Co. (JPM) $140.80 -1.55%
American Express Co. (AXP) $153.75 -1.29%
S&P 500 - Risers
Morgan Stanley (MS) $97.08 5.91%
Nvidia Corp. (NVDA) $177.02 4.75%
Kohls Corp. (KSS) $30.05 4.23%
Carmax Inc. (KMX) $67.44 3.75%
Vertex Pharmaceuticals Inc. (VRTX) $311.98 3.67%
Under Armour Inc. Class A (UAA) $11.91 3.66%
Global Payments Inc. (GPN) $111.46 3.53%
Carnival Corp. (CCL) $10.88 3.52%
Church Dwight Co Inc. (CHD) $84.72 3.43%
Under Armour, Inc. (UA) $10.50 3.35%
S&P 500 - Fallers
Emerson Electric Co. (EMR) $91.24 -6.82%
Goldman Sachs Group Inc. (GS) $349.92 -6.44%
Mohawk Inds Inc. (MHK) $111.18 -6.30%
Jefferies Financial Group Inc. (JEF) $38.32 -5.31%
CenturyLink Inc. (LUMN) $5.59 -5.25%
Travelers Company Inc. (TRV) $185.00 -4.60%
Pfizer Inc. (PFE) $46.08 -3.70%
Automatic Data Processing Inc. (ADP) $236.78 -3.50%
Newmont Corporation (NEM) $52.47 -3.46%
Fluor Corp. (FLR) $35.13 -3.41%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $131.49 7.43%
Nvidia Corp. (NVDA) $177.02 4.75%
Vertex Pharmaceuticals Inc. (VRTX) $311.98 3.67%
Illumina Inc. (ILMN) $206.44 2.65%
Align Technology Inc. (ALGN) $246.04 2.62%
Cadence Design Systems Inc. (CDNS) $172.97 2.19%
Vodafone Group Plc ADS (VOD) $11.42 1.69%
Booking Holdings Inc. (BKNG) $2,334.02 1.42%
Fiserv Inc. (FISV) $104.01 1.41%
Synopsys Inc. (SNPS) $337.30 1.30%
Nasdaq 100 - Fallers
Baidu Inc. (BIDU) $130.62 -6.02%
JD.com, Inc. (JD) $59.96 -5.72%
Automatic Data Processing Inc. (ADP) $236.78 -3.50%
Trip.com Group Limited (TCOM) $36.32 -3.22%
Activision Blizzard Inc. (ATVI) $74.56 -2.74%
Wynn Resorts Ltd. (WYNN) $98.01 -2.23%
Amazon.Com Inc. (AMZN) $96.05 -2.11%
Texas Instruments Inc (TXN) $175.40 -2.02%
Netflix Inc. (NFLX) $326.22 -1.98%
T-Mobile Us, Inc. (TMUS) $146.98 -1.80%