4 min read
In This Article:
Wall Street closed lower on Tuesday, pulled down by industrial and discretionary stocks. Disappointing corporate earnings in the session and a lack of positive developments in the trade talks with China weighed on investor mood. All three benchmark indexes closed in the red.
The Dow Jones Industrial Average (DJI) slid 0.5%, or 204.57 points, to close at 44,632.99. Seventeen components of the 30-stock index ended in negative territory, while 13 ended in positive.
The tech-heavy Nasdaq Composite fell 80.29 points, or 0.4%, to close at 21,098.29.
The S&P 500 lost 18.91 points, or 0.3%, to close at 6,370.86. Six of the 11 broad sectors of the benchmark index closed in the red. The Industrials Select Sector SPDR (XLI), the Communication Services Select Sector SPDR (XLC) and the Consumer Discretionary Select Sector SPDR (XLY) declined 1.1%, 0.9% and 0.7%, respectively, while the Real Estate Select Sector SPDR (XLRE) gained 1.7%.
The fear gauge CBOE Volatility Index (VIX) increased 6.3% to 15.98. A total of 18.01 billion shares were traded on Tuesday, higher than the last 20-session average of 17.89 billion. Decliners outnumbered advancers by a 1.03-to-1 ratio on the NYSE, and by a 2.08-to-1 on the Nasdaq.
On Wednesday, Wall Street sentiment softened as a slew of high-profile earnings reports disappointed investors. UnitedHealth Group Incorporated UNH saw shares slide 7.5% after second-quarter adjusted EPS came in at $4.08, missing the Zacks Consensus Estimate of $4.84, prompting a downward revision of its full-year profit outlook amid escalating medical costs and operational missteps. United Parcel Service, Inc. UPS also faced scrutiny, retracting its 2025 revenue and profit guidance after posting weaker-than-expected results and citing economic uncertainty. This sent its stock down 10.6%.
Meanwhile, Whirlpool Corporation WHR reported earnings of $1.34 per share, missing the Zacks Consensus Estimate of $1.54, as the appliance maker sharply cut its earnings forecast to $6-$8 per share, slashed its dividend and highlighted mounting pressure from tariffs, competition and a soft housing market. Its stock plunged 13.4% in the session. The Boeing Company BA reported a loss of $1.24 per share in the quarter, narrower than the Zacks Consensus Estimate loss of $1.54, and posted $22.75 billion in revenue driven by a surge in jet deliveries. However, shares still fell about 4.4% as investors viewed the recovery as fragile and the company’s long-term profitability elusive.
