Wall Street Closes Tuesday with Mixed Results
(MENAFN) The New York Stock Exchange closed with mixed results on Tuesday amid a wave of corporate earnings reports and uncertain messaging from U.S. President Donald Trump regarding a potential meeting with Chinese President Xi Jinping.
The Dow Jones Industrial Average advanced 0.47%, climbing 218.16 points to finish at 46,924.74. Meanwhile, the S&P 500 remained nearly unchanged, ending the session at 6,735.35. The Nasdaq Composite slipped 0.16%, shedding 36.88 points to close at 22,953.67.
Corporate earnings were a key driver. General Motors beat analyst forecasts and raised its full-year profit outlook, sending its shares up 14.9%.
Coca-Cola also posted better-than-expected third-quarter revenue and earnings, boosting its stock 4.1%. Industrial giant 3M raised its annual profit forecast, gaining 7.7% in the session.
However, Philip Morris fell 3.8%, despite also lifting its earnings guidance.
In the defense and aerospace sector, Lockheed Martin, RTX, and GE Aerospace all upgraded their year-end profit forecasts. Despite the outlook boost, Lockheed Martin dropped 3.2%, while RTX surged 7.7% and GE Aerospace added 1.3%.
Meanwhile, a political deadlock continued in Washington as the U.S. government remained partially shut down since October 1. The Senate, in its 11th vote, rejected a temporary funding bill on Tuesday. Lawmakers are expected to revisit the issue with another vote on Wednesday.
On the international stage, uncertainty loomed over U.S.-China trade diplomacy. Trump told reporters he planned to meet Xi in South Korea “within two weeks,” but added, “maybe it won’t happen.”
The conflicting statements added a layer of geopolitical ambiguity that weighed on investor sentiment.
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