It was a quiet Tuesday on Wall Street, as major indexes edged lower with investors pausing ahead of a critical wave of tech earnings.
By midday trading in New York, the S&P 500 dipped 0.1% and the Nasdaq 100 slipped 0.5%, pulling back after hitting fresh all-time highs on Monday. The Russell 2000 outperformed, rising 0.6%.
Weak corporate results weighed on sentiment. Philip Morris International Inc. (NYSE:PM) plunged 9.5% after missing revenue forecasts. Lockheed Martin Corp. (NYSE:LMT) dropped more than 8% on a double miss, and General Motors Co. (NYSE:GM) lost 5.5% after warning of a steeper-than-expected tariff hit in the second half of 2025.
Health care led sector gains, while tech stocks lagged, as attention turns to earnings from Alphabet Inc. (NASDAQ:GOOGL), and Tesla Inc. (NASDAQ:TSLA) which are slated to report earnings on Wednesday.
On the macro front, Treasury Secretary Scott Bessent said the U.S. will meet with Chinese officials next week to continue trade negotiations. That raised hopes for an extension to the August 12 China tariff …