US stocks wavered on Tuesday after hitting new all-time highs, with the Dow Jones up 0.1%, the S&P 500 trading flat, and the Nasdaq slipping 0.2% ahead of Big Tech earnings. General Motors reported a 32% drop in core profit due to tariff headwinds, sinking its stock.

Wall Street remains bullish despite tariff uncertainty, with the S&P 500 and Nasdaq hitting record closes. Earnings season has been mostly positive, but stocks like GM, Philip Morris, and Lockheed Martin sank after disappointing results. Investors are now watching for earnings from Alphabet and Tesla.

General Motors stock fell over 3% as core profit sank 32% in Q2 due to tariffs, with a $1.1 billion hit to results. The automaker warned of deeper impacts in the current quarter, reflecting challenges in the trade war. Investors are assessing the broader impact of trade policy.

Lockheed Martin reported a 6% premarket drop after a $1.6 billion charge, impacting Q2 profit. NXP shares fell almost 6% as revenue outlook disappointed investors. Coca-Cola topped Q2 estimates, but stock fell 1% premarket as volumes dropped. Oracle and Medpace also saw stock movement premarket.

Oil prices fell as trade war negotiations between the EU and US impacted investor sentiment for crude consumption. Meanwhile, stocks like Nvidia, Oracle, and Medpace saw premarket movement based on news and earnings reports. The market remains volatile as investors navigate earnings season and trade talks.

Read more at Yahoo Finance: Dow, S&P 500, Nasdaq wobble amid wave of earnings as tariffs bite GM profit