The Dow Jones Industrial Average experienced a decline on Tuesday, stepping back from recent record highs as investors examined the latest corporate earnings reports. The blue-chip Dow retreated by 0.25% or 96.36 points to 37,905.45, falling below the newly breached 38,000 level achieved on Monday. This reversal marked the end of a three-day winning streak. Meanwhile, the S&P 500 reached a fresh all-time closing high, rising 0.29% to 4,864.60, and the Nasdaq Composite increased by 0.43% to 15,425.94.
The Dow’s decrease was influenced by a significant 11% drop in 3M shares due to disappointing guidance, while Johnson & Johnson saw a 1.6% decline after reporting its earnings. D.R. Horton faced a more than 9% drop as it missed Wall Street’s forecast for per-share earnings, and Lockheed Martin slipped over 4% following a less optimistic outlook for full-year earnings per share.
Conversely, United Airlines saw a more than 5% rise after reporting robust fourth-quarter results. However, the airline anticipates a first-quarter loss due to the grounding of Boeing 737 Max 9 airplanes, the model involved in the recent Alaska Airlines emergency.
Source (CNBC)
