LIVE MARKETS-Wall Street takes a breath ahead of key earnings reports

Reuters
Oct 21
LIVE MARKETS-Wall Street takes a breath ahead of key earnings reports

S&P 500, Nasdaq stay close to flat, Dow rises

Consumer discretionary leads sector gainers, materials is biggest loser

Euro STOXX 600 index flat

Dollar rises, crude dips, gold off >5%; bitcoin slips

U.S. 10-Year Treasury yield falls to ~3.96%

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WALL STREET TAKES A BREATH AHEAD OF KEY EARNINGS REPORTS

Wall Street's three major indexes were staying relatively close to flat on Tuesday with a bunch of positive financial releases helping to counterbalance some jitters ahead of key earnings reports from market heavyweights such as Tesla TSLA.O , IBM IBM.N and Intel INTC.O.

While the Dow .DJI rose slightly, the S&P 500 .SPX edged lower and Nasdaq .IXIC slipped.

The morning's crop of earnings brought some encouragement with General Motors GM.N lifting its financial outlook for the year and slightly lowering its estimate for the hit from tariffs, sending the automaker's shares up 14%. GM was one of the biggest boosts for the consumer discretionary sector .SPLRCD, helping to offset a decline in Tesla shares.

Coca-Cola's KO.N shares rose 3.7% after its third-quarter results exceeded Wall Street's expectations on resilient demand for its zero-sugar drinks and Fairlife in the U.S., and sodas internationally, despite cautious spending worldwide.

And among defense stocks, GE Aerospace GE.N shares gained more than 1% after raising its full-year profit forecast, while Lockheed Martin LMT.N and RTX RTX.N upgraded their full-year profit and revenue estimates. While RTX shares rallied 9%, LMT fell 2.4%.

With gold XAU= easing sharply from recent rallies, Newmont NEM.N shares fell 7.9%, putting pressure on the materials sector, making it the biggest loser among the S&P's 11 major sectors.

Here is your snapshot from 10:27 a.m. ET/ 1427 GMT

(Sinéad Carew)

*****

FOR TUESDAY'S EARLIER LIVE MARKETS POSTS

WHAT ABOUT THE NON-AI STOCKS? CLICK HERE

BOFA SEES RETAIL AS KEY GROWTH AVENUE FOR PRIVATE MARKETS CLICK HERE

EUROPEAN EARNINGS: BEATING A BAR THAT KEEPS DROPPING CLICK HERE

STOXX 600 BARELY ABOVE WATER ON MIXED BAG OF EARNINGS CLICK HERE

EUROPE BEFORE THE BELL: BRIEF RALLY FADES CLICK HERE

MARKETS BRUSH OFF WORRIES, RISK RALLY RAGES ON CLICK HERE

Nasdaq slips with S&P 500, Dow rises https://fingfx.thomsonreuters.com/gfx/mkt/gdpzbzwxkpw/Pasted%20image%201761056879623.png

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