The US stock market showed a decline on Tuesday influenced by earnings reports from technology giants including Tesla and Alphabet.
Market Performance
The S&P 500 slipped 0.1%, closing at 4,553.66, and the Nasdaq Composite fell 0.2%, ending at 14,109.14.
The Dow Jones Industrial Average, however, rose 0.2% to close at 35,438.07.
The small move underscores the market's skepticism as investors remain on edge, particularly due to upcoming earnings reports from major tech firms.
Big Tech Earnings Expectations
Investors closely monitor earnings announcements published by Alphabet, Amazon, and Meta Platform.
The tech giant is expected to set the tone for the sector's performance and provide insight into future growth prospects.
Expectations are high because the decisions of these companies can influence market sentiment and trading behavior in the coming days.
Contributing factor
The market's cautious stance is also influenced by mixed economic indicators.
The latest data showed a decline in consumer confidence, which fell to 117.1 in July from 118.8 in June, signaling potential concerns about economic growth.
Additionally, geopolitical tensions, including the ongoing conflict in Ukraine and US-China relations, continue to weigh on investor sentiment.
Sector Highlights
Among the sectors, the energy sector performed well, supported by the rise in oil prices.
Conversely, the consumer discretionary and technology sectors faced pressure, reflecting the broader market's cautious tone.
Boeing's positive earnings report provided a slight lift, helping the Dow Jones make small gains.
