US Stock Market Closes Mixed

(MENAFN) The New York Stock Exchange wrapped up Tuesday with a mixed performance as prominent American corporations released their financial results, and US President Donald Trump sent ambiguous messages regarding his forthcoming meeting with Chinese leader Xi Jinping.

The Dow Jones Industrial Average increased by 0.47%, or 218.16 points, finishing the session at 46,924.74.

Meanwhile, the S&P 500 remained mostly steady at 6,735.35 points, whereas the Nasdaq Composite declined by 0.16%, dropping 36.88 points to close at 22,953.67.

General Motors surpassed analyst expectations and raised its earnings outlook for the year, leading its stock to surge by 14.9%.

Shares of Coca-Cola climbed 4.1% following the announcement of third-quarter earnings and revenue that exceeded forecasts. Similarly, 3M, a key industrial firm, boosted its annual profit guidance, causing its shares to rise 7.7%.

Conversely, despite upgrading its yearly earnings forecast, Philip Morris experienced a 3.8% decline in its stock price.

In the defense industry, Lockheed Martin, RTX, and GE Aerospace all increased their profit forecasts for the remainder of the year.

Lockheed Martin’s shares dropped 3.2%, whereas RTX and GE Aerospace saw gains of 7.7% and 1.3%, respectively.

The US government has remained partially closed since October 1 due to a budget deadlock.

On Tuesday, the Senate voted for the 11th time and again rejected a temporary funding bill. Another vote is scheduled for Wednesday.

Regarding trade relations, President Trump delivered conflicting remarks about the anticipated negotiations between Washington and Beijing, which involve Xi Jinping.

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