Stock market ends mixed after uneven earnings news
NEW YORK — Uneven corporate earnings news left the stock market mixed on Tuesday.
Most major indexes closed slightly lower, except for the Dow Jones industrial average. Yet even there the gain was due to the increase in one stock, United Technologies.
Better earnings from big banks, health insurers and other companies have helped drive the stock market higher this month. On Tuesday, however, the encouraging and the discouraging seemed evenly matched. Wendy’s and United Technologies surged after posting stronger results than financial analysts expected. Netflix and the Altria Group, maker of Marlboro cigarettes, sank after their results fell short.
“In the absence of major economic news, the focus is on earnings this week,” said David Joy, chief market strategist at Ameriprise Financial. “And there’s nothing today to drive the market dramatically one way or another.”
The Dow rose 22.19 points, or 0.1 percent, to 15,567.74. If not for a 3 percent gain in United Technologies, the Dow would have closed down a point.
The Standard & Poor’s 500 index fell 3.14 points, or 0.2 percent, to 1,692.39. The Nasdaq composite fell 21.11 points, or 0.6 percent, to 3,579.27.
The Herald-Dispatch welcomes your comments on this article, but please be civil. Avoid profanity, obscenity, personal attacks, accusations of criminal activity, name-calling or insults to the other posters. Herald-dispatch.com does not control or monitor comments as they are posted, but if you find a comment offensive or uncivil, hover your mouse over the comment and click the X that appears in the upper right of the comment. If you do not want your comment to post to your personal Facebook page, uncheck the box below the comment.