- US stocks opened lower Tuesday with all eyes on a new slate of earnings.
- Johnson & Johnson, General Electric and 3M all reported before the opening bell.
US stocks ticked down Tuesday amid mixed fourth-quarter earnings from industrial heavyweights.
General Electric and Lockheed Martin exceeded analyst expectations, while 3M missed on earnings but beat on revenue. Meanwhile, Johnson & Johnson beat on earnings but fell just short of revenue forecasts.
Traders will shift focus toward tech later in the day, with Microsoft reporting after the market close. The ChatGPT backer kicks off a busy week for tech earnings.
Here's where US indexes stood at the 9:30 a.m. ET open on Tuesday:
- S&P 500: 3,998.84, down 0.52%
- Dow Jones Industrial Average: 33,482.88, down 0.44% (146.48 points)
- Nasdaq Composite: 11,294.37, down 0.62%
Here's what else happened today:
- US prosecutors say hackers backed by North Korea were responsible for looting $100 million worth of crypto last year.
- Cryptos are showing signs of strength as the market climbs back above $1 trillion in value.
- Elon Musk's net worth has gained nearly $11 billion in two days.
- Credit Suisse says potentially rough tech earnings will end up doing the S&P 500 more harm than good.
In commodities, bonds and crypto:
- West Texas Intermediate crude oil climbed 0.31% to $81.85 per barrel. Brent crude, oil's international benchmark, gained 0.28% to $88.44.
- Gold ticked down 0.04% to $1,930.45 per ounce.
- The yield on the 10-year Treasury was ticked down 1 basis point to 3.513%.
- Bitcoin slipped 0.52% to $22,860.17.