US stocks open mixed as investors await earnings results

The S&P 500 index fell on Tuesday, after the benchmark and Nasdaq Composite hit new record highs in the previous session, as traders weighed recent corporate earnings results against new developments in the trade war.

According to CNBC, the S&P 500 index fell 0.3% to 6,286.24, while the Nasdaq fell 0.8% to 20,808.82. The Dow Jones Industrial Average rose 0.12% to 44,377.04.

Shares of aerospace and defense contractor Lockheed Martin fell 7% after its second-quarter revenue fell short of analysts’ expectations. Shares of Philip Morris also fell 7% after its quarterly revenue missed estimates. So far, 88 S&P 500 companies have reported their results, and according to FactSet, more than 82% of them have exceeded analysts’ expectations. Attention is now focused on companies’ comments on macroeconomic uncertainty, the impact of tariffs, and details related to demand and spending on artificial intelligence. Alphabet (Google’s parent company) and Tesla are expected to report their results on Wednesday, marking the start of a highly anticipated earnings season for the “Big Seven” tech companies. These giants are expected to contribute significantly to earnings growth this season.