On Tuesday, the Dow Jones Industrial Average experienced a decline, stepping back from its recent record-breaking highs, primarily influenced by a 0.4% loss (160 points) in the blue-chip Dow.
This retreat brought it below the 38,000 level reached for the first time on Monday. Notably, 3M’s disappointing guidance contributed to a 10% drop, impacting the 30-stock benchmark. Johnson & Johnson also saw a more than 1% decline following its earnings report.
Meanwhile, the S&P 500 and Nasdaq Composite traded near flat levels. Homebuilder D.R. Horton faced an over 8% drop due to missing Wall Street’s earnings forecast, while General Electric slipped 1% on weaker-than-expected guidance.
Conversely, United Airlines saw a more than 6% rise after reporting robust fourth-quarter results, despite anticipating a first-quarter loss due to the grounding of Boeing 737 Max 9 airplanes, linked to the recent Alaska Airlines emergency.
Source (CNBC)
