Stocks are treading water as earnings fall to the Dow Jones

Stocks are treading water as earnings fall to the Dow Jones

US stocks paused amid a record rally as focus turned to today’s earnings stream for insight into the health of US companies and the economy.

The Dow Jones Industrial Average (^DJI) fell about 0.1% after the leading index surpassed 38,000 for the first time on Monday. The S&P 500 (^GSPC) added about 0.1% to remain near a record closing level, while the Nasdaq Composite (^IXIC) also rose 0.1%.

Stocks have rebounded from their early January slump in recent days, as investors increasingly embrace the idea that the Federal Reserve could deliver a “soft landing” for the U.S. economy. Data showing resilience in the face of higher-than-usual interest rates helped bolster these expectations.

Read more: What a pause on federal interest rate hikes means for bank accounts, CDs, loans and credit cards

Upbeat 2024 earnings forecasts from United Airlines (UAL) helped lift its shares 7% on Tuesday.

Other airline stocks, including Delta (DAL) and American Airlines (AAL), rose on the forecast, which came even as United warned of damage from the grounding of its Boeing 737 Max 9 planes.

He lives2 updates

  • Stocks move after earnings

    Earnings led the market action on Tuesday morning, as results from several companies disappointed Wall Street analysts and sent the Dow Jones Industrial Average (^DJI) lower.

    3M (3M) fell nearly 10% on Tuesday as the company’s 2024 earnings forecast fell short of Wall Street expectations.

    General Electric (GE) beat earnings expectations for the previous quarter, but its stock fell about 2% in morning trading after its earnings expectations for the current quarter came in lower than analysts expected.

    Shares of Johnson & Johnson (JNJ) fell more than 2% as the company indicated it is in “progress” to reaching a settlement with 43 state attorneys general to resolve claims related to Johnson & Johnson’s marketing of its Talc product. The Wall Street Journal reported that Johnson & Johnson will pay $700 million to settle the investigation.

    Verizon (VZ) had a different earnings story as shares rose nearly 5% in morning trading. The wireless carrier added 449,000 additions to its postpaid phone network, well above Wall Street estimates of 232,000 additions.

  • Mixed open stocks

    US stocks paused amid a record rally as focus turned to today’s earnings stream for insight into the health of US companies and the economy.

    The Dow Jones Industrial Average (^DJI) fell about 0.1% after the leading index surpassed 38,000 for the first time on Monday. The S&P 500 (^GSPC) rose 0.1% to settle near a record closing high, while the tech-heavy Nasdaq Composite (^IXIC) also rose.

    Major Dow Jones components 3M and Johnson & Johnson weighed on the major average as stocks fell after quarterly earnings reports.

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