FX.co ★ US Stocks Erase Gains

US stock markets mostly experienced declines on Tuesday, driven by a series of negative earnings reports and persisting concerns over ongoing trade disputes. Both the S&P 500 and the Nasdaq 100 dipped slightly below baseline levels after hitting record highs during the morning session, while the Dow Jones Industrial Average dropped over 150 points. Key earnings reports and forward guidance released by major companies before the market opened skewed pessimistic. United Health dropped more than 5% following a warning that its full-year earnings might not meet expectations. Merck fell by 3% despite surpassing earnings forecasts. Additionally, UPS saw a substantial 10% decline due to anticipated negative impacts from tariffs on its future outlook, and Boeing decreased by 3% after its latest event. In economic data, job openings were slightly less than expected, marking the beginning of several new labor market updates, though consumer confidence showed a slight rise. Meanwhile, on the trade front, the U.S. extended its tariff truce with China. However, given that this move was largely anticipated, it failed to positively influence the stock market.