Stock Market Update

[BRIEFING.COM] The DJIA (+0.5%) captured fresh record highs today, driven by positive reactions to this morning's slate of earnings reports, while the S&P 500 (flat) and Nasdaq Composite (-0.2%) remained near their flatlines as mega-cap and tech names largely underwhelmed. 

Coca-Cola (KO 71.22, +2.78, +4.06%) and 3M (MMM 166.64, +11.86, +7.67%) both beat earnings expectations and contributed to the Dow's outperformance today. 

3M's gain also helped the industrials sector (+0.9%) finish as one of the top-performing S&P 500 sectors. 

RTX (RTX 173.04, +12.33, +7.67%) reached an all-time high after its beat-and-raise earnings report this morning, capturing the widest gain in a sector that saw several leading defense names beat earnings expectations. The sector's largest component, GE Aerospace (GE 306.63, +3.95, +1.31%), was among those names, as were Lockheed Martin (LMT 489.50, -16.40, -3.24%) and Northrop Grumman (NOC 599.35, -2.65, -0.44%), which traded lower despite earnings beats of their own. 

The iShares U.S. Aerospace and Defense ETF closed with a 1.8% gain. 

The consumer discretionary sector (+1.3%) finished as the top gain getter, boosted by General Motors (GM 66.62, +8.62, +14.86%) capturing the widest gain across S&P 500 names today. The company beat top and bottom line expectations and raised its FY25 earnings guidance. Notably, the company expects the impacts of tariffs to be smaller than previously anticipated. 

Ford Motor (F 12.56, +0.57, +4.75%) traded higher in sympathy. 

Elsewhere, the health care sector (+0.2%) got a piece of today's earnings strength through Danaher (DHR 220.77, +12.38, +5.94%), rounding out the three S&P 500 sectors that closed with gains.

Though the information technology sector (-0.2%) could not scratch out a gain, its improvement from an earlier loss helped the S&P 500 move out of negative territory. The sector faced pressure in its chipmaker components, sending the PHLX Semiconductor Index 0.7% lower, though Texas Instruments (TXN 180.84, +1.26, +0.70%) moved higher ahead of its earnings after the close. 

As for today's laggards, the utilities sector (which missed out on yesterday's broad strength) moved 1.0% lower as nearly all of its components closed with losses. 

The communication services sector (-0.9%) faced a similar loss, pressured by Alphabet (GOOG 251.34, -5.68, -2.21%), which moved lower after concerns around an upcoming OpenAI browser announcement.

Mega-cap stocks as a whole never overcame their early sluggishness, with the Vanguard Mega Cap Growth ETF (-0.1%) closing with a slight loss. 

Amazon (AMZN 222.03, +5.55, +2.56%), however, was an exception, as it was the only "magnificent seven" name to finish with a gain wider than 0.2%. 

The S&P 500 Equal Weighted Index (+0.5%) outperformed the market-weighted S&P 500 (flat) as a result. 

The materials sector (-0.7%) also faced pressure as precious metals moved lower today. Gold futures settled $250.30 lower (-5.7%) at $4,109.10 per oz, marking its steepest one-day drop since 2020 as investors took profits after a record-setting rally. The pullback was fueled by stronger U.S. yields, a firmer dollar, and fading safe-haven demand amid improving global risk sentiment.  Newmont Corporation (NEM 86.30, -8.59, -9.05%) retreated the furthest of any S&P 500 name today. 

Outside of the S&P 500, the small-cap Russell 2000 (-0.5%) and S&P Mid Cap 400 (+0.4%) put up mixed performances. 

While investors were kept busy by the large round of earnings reports, other notable developments were slim today. 

The market briefly pulled back just after 1:00 ET after President Trump commented on meeting with Chinese President Xi, saying, "Maybe it won't happen," though there was not much else to report on the trade front. 

There were no economic data releases, and the U.S. government remains in shutdown mode, meaning that earnings will likely remain a key driver of price action throughout the week. 

U.S. Treasuries edged higher on Tuesday, pressuring the 10-year yield past its low from last week to a level not seen since early April. The 2-year note yield settled unchanged at 3.46%, and the 10-year note yields settled down two basis points to 3.96%. 

• Nasdaq Composite: +18.9% YTD
• S&P 500: + 14.5% YTD
• Russell 2000: +11.6% YTD
• DJIA: +10.3% YTD
• S&P Mid Cap 400: +4.9% YTD