S&P 500 Tumbles as Investors Weigh Mixed Earnings Results

U.S. equities opened Tuesday with mixed momentum as investors sifted through a flood of corporate earnings reports that painted a varied picture of economic resilience and sector performance.

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By mid-morning, the S&P 500 had dipped about 0.1%, with just three of its eleven sectors managing to stay in positive territory. Consumer discretionary and industrials led the modest gains, while materials stocks lagged behind.

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Among individual movers, PulteGroup Inc. and Lockheed Martin Corp. slid after disappointing results, whereas RTX Corp., Danaher Corp., and General Motors emerged as strong outperformers. Metals and mining shares weakened as gold prices retreated, pulling down broader commodity-linked names. The Nasdaq 100 also slipped 0.3%.

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“The standout report belongs to General Motors,” noted Bespoke Investment Group in its morning commentary. “It’s a jam-packed session for earnings, with a heavy dose of industrial and diversified firms announcing results.”

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General Motors was the clear bright spot, surging 13% after the automaker raised its full-year guidance above Wall Street expectations. The upbeat forecast reflected steady demand and cost discipline that helped lift investor sentiment toward the sector. Ford Motor Co. gained 2.8% in sympathy, continuing the positive tone for major U.S. automakers.

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Homebuilder PulteGroup Inc. fell 4.4% after cautioning that buyer sentiment remains subdued due to “weaker consumer confidence and ongoing affordability challenges.” The company’s warning underscored the strain that higher mortgage rates and elevated home prices continue to place on the housing market.

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Truck manufacturer Paccar Inc. edged up 2% even though its earnings per share missed estimates by a penny and truck deliveries came in below projections. Investors appeared encouraged by management’s stable outlook for fleet demand and production levels.

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The biggest drag on the S&P 500 came from Newmont Corp., which sank 8.4% as gold prices declined and weighed on precious-metals miners. Improved risk appetite tied to easing trade tensions and growing optimism about a potential U.S. government reopening reduced demand for traditional safe-haven assets.

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In the financial sector, Zions Bancorp. helped calm nerves, advancing 2% after reporting steady credit quality. The bank has been under scrutiny following sharp declines last week amid concerns over allegedly fraudulent loans that also affected peer Western Alliance Bancorp. Goldman Sachs CEO David Solomon sought to reassure investors, describing the incidents as “idiosyncratic events” rather than systemic issues.

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Meanwhile, medical-device manufacturer Hologic Inc. climbed 3.6% after private equity giants Blackstone Inc. and TPG Inc. announced a deal to acquire the company for up to $18.3 billion, including debt. The acquisition reflects a resurgence in large-scale M&A activity, as private equity firms look to deploy record levels of capital into strategic healthcare investments.

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Investors are also bracing for another wave of key earnings after the close, with Netflix Inc., Capital One Financial Corp., and Texas Instruments Inc. all set to report. Netflix, in particular, is expected to draw attention as analysts anticipate a boost from successful new programming and stronger ad-supported revenue streams.

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Overall, Tuesday’s market session reflects a cautious but active tone as investors balance strong individual corporate results against broader macroeconomic uncertainty. With earnings season in full swing, traders are watching for clues about consumer strength, corporate margins, and how companies are navigating higher borrowing costs.

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The broader mood remains one of selective optimism — upbeat where results beat expectations, but tempered by lingering economic headwinds. As the earnings deluge continues, market participants will be looking for signals on whether U.S. corporations can maintain momentum amid mixed data and an uneven growth backdrop.

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