Wall Street today: US stocks muted ahead of earnings from Alphabet, Tesla

US stock indices were muted on Tuesday amid mixed second quarter earnings and ahead of results from Alphabet and Tesla.

At 9:50 a.m. ET, the Dow Jones Industrial Average was down 7.58 points, or 0.02 per cent, at 40,407.86, the S&P 500 was up 10.65 points, or 0.19 per cent, at 5,575.06, and the Nasdaq Composite was up 51.70 points, or 0.29 per cent, at 18,059.27.

At the opening bell, the Dow Jones Industrial Average rose 28.29 points, or 0.07 per cent, to 40,443.73. The S&P 500 was higher by 0.89 points, or 0.02 per cent, at 5,565.30, while the Nasdaq Composite dropped 24.83 points, or 0.14 per cent, to 17,982.74.

Alphabet and Tesla are set to report second quarter earnings after the market hours.

Alphabet shares rose 0.5 per cent, while Tesla fell 0.5 per cent.

Among other megacap stocks Microsoft added 0.6 per centand Amazon.com climbed 2.5 per cent.

United Parcel Service stock was one of the biggest laggards, slumping 12.4 per centafter it missed earnings estimates.

NXP Semiconductors stock shed 7.2 per cent after third quarter revenue forecast.

GE Aerospace stock gained 6.7 per centafter reporting better than expected earnings.

Spotify Technology surged 13.6 per centafter its second quarter results.

General Motors shares lost 5.4 per cent.

Coca-Cola stock rose 1.0 per centafter the company raised its annual sales and profit forecasts.

In the bond market, the yield on the 10-year Treasury eased to 4.22 per cent from 4.25 per centlate on Monday.

Spot gold was up 0.2 per cent at $2,402.39 per ounce at 1415 GMT. US gold futures gained 0.4 per cent to $2,403.40.

Brent crude futures for September fell by 84 cents, or 1 per cent, to $81.56 a barrel by 1409 GMT (10:09 am ET). US West Texas Intermediate crude for September dropped 93 cents, or 1.2 per cent, to $77.47 per barrel.

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First Published:

23 Jul 2024, 09:19 PM IST