S&P 500, Dow Snap Two-Day Winning Streaks
On Tuesday, the three major U.S. stock indices closed with mixed results as investors processed the latest batch of corporate earnings along with persistent worries about tariffs and uncertainties surrounding trade policies. The S&P 500 and the Dow Jones both fell by 0.2% and 0.4%, respectively, ending a two-day run of gains, whereas the Nasdaq 100 inched up by nearly 0.2%. President Trump stressed that China needs to return to trade negotiations to alleviate tariff tensions, highlighting the critical role of U.S. consumer demand. The markets had rallied on Monday amid optimism over a potential delay on auto tariffs and exemptions on certain tech products. In contrast, the Commerce Department initiated an investigation into semiconductor and pharmaceutical imports, indicating the possibility of new tariffs. Nonetheless, the financial sector provided some support, with Bank of America rising by 3.6% and Citigroup increasing by 1.7%, both buoyed by strong earnings. Despite surpassing earnings expectations, Johnson & Johnson dipped by 0.5%, while Boeing saw a decline of 2.4% following reports that Chinese airlines were advised by Beijing to suspend new jet purchases.
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