From Nasdaq:

The S&P 500 and the Nasdaq were flat on Tuesday due to a mixed bag of earnings reports. 3M tumbled 9.5% after forecasting poor annual earnings, while General Electric dropped 2.1%. Johnson & Johnson fell 2.5% despite reporting quarterly results above expectations, and Verizon Communications forecasted a strong annual profit, resulting in a 4.8% increase.

Wall Street hit a fresh intraday record peak and closed at an all-time high for a second session, extending a bull-market run fueled by strength in megacap tech and chip stocks. The blue-chip Dow also surpassed the 38,000-point mark for the first time, gaining for the third trading day.

The PCE index – the Fed’s preferred inflation gauge – will be key in assessing the central bank’s next policy decision when it meets on Jan. 31. Expectations of U.S. monetary policy easing have now deferred to May, with an 84% odd for an at least 25-basis-point cut.

At 9:48 a.m. ET, the Dow Jones Industrial Average was down 78.55 points, the S&P 500 was up 4.05 points, and the Nasdaq Composite was up 21.07 points. Eight of the 11 S&P 500 sectors crawled higher, with the communication services sector leading with a 0.7% rise.

Homebuilder D.R. Horton shed 7.3% as it missed first-quarter profit estimates, while Procter & Gamble topped second-quarter profit expectations, sending shares up by 4.8%. RTX jumped 8.1% on a 10% surge in fourth-quarter revenue, while United Airlines gained 8.3% following an upbeat full-year outlook.

Advancing issues outnumbered decliners by a 1.95-to-1 ratio on the NYSE and by a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded 22 new 52-week highs and no new lows, while the Nasdaq recorded 63 new highs and 37 new lows.



Read more: US STOCKS-S&P 500, Nasdaq muted as mixed earnings weigh on risk appetite