US close: Major indices mixed following CPI reading, Q2 bank earnings

(Sharecast News) - Wall Street stocks delivered a mixed performance on Tuesday as market participants digested key inflation data and mixed Q2 bank earnings. At the close, the Dow Jones Industrial Average was down 0.98% at 44,023.29, while the S&P 500 shed 0.40% to 6,243.76 and the Nasdaq Composite saw out the session 0.18% firmer at 20,667.80.

The Dow closed 436.36 points lower on Tuesday, easily reversing gains recorded in the previous session despite news that Donald Trump had slapped fresh tariffs on imports from both the EU and Mexico.

Tuesday's primary focus was news that the cost of living in the US rose a tad less quickly than anticipated in July, as energy prices bounced back. According to the Department of Labor, in seasonally adjusted terms, the headline consumer price index rose at a month-on-month pace of 0.3% in June, while the annual rate of change in CPI came to 2.7%, both of which were in line with expectations. Core CPI, on the other hand, rose by 0.2% over the month and 2.9% on the year, slightly better than the 3.0% increase forecast by economists.

Elsewhere on the macro front, the New York Empire State manufacturing index surged to 5.5 in July, the first positive reading since February, rebounding from -16.0 in June and well and truly outperforming market expectations of -9.0. New orders edged higher, as did shipments, while delivery times lengthened and supply availability continued to worsen. Firms also appeared to grow more optimistic, with the future business conditions index rising to 24.1.

In the corporate space, US banking giant Wells Fargo said on Tuesday that profits had grown in Q2 but lowered expectations for its annual interest income performance, while JPMorgan Chase posted a 17% drop in Q2 profits, and BlackRock said assets hit a record $12.43trn on the back of a surge in its alternatives business.

Citigroup quarterly profits rose on the back of a solid trading performance, up 16% year-on-year, while Bank of New York Mellon posted quarterly revenue and earnings that topped Wall Street expectations on the back of a strong net interest income performance.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Microsoft Corp. (MSFT) $505.63 0.74% Dowdupont Inc. (DWDP) $0.00 0.00% Coca-Cola Co. (KO) $69.33 -0.20% Caterpillar Inc. (CAT) $404.94 -0.20% Boeing Co. (BA) $229.90 -0.26% Apple Inc. (AAPL) $209.01 -0.27% Nike Inc. (NKE) $72.04 -0.30% Walgreens Boots Alliance, Inc. (WBA) $11.50 -0.30% Walmart Inc. (WMT) $95.39 -0.41% International Business Machines Corporation (CDI) (IBM) $282.61 -0.42%

Dow Jones - Fallers

American Express Co. (AXP) $310.72 -3.18% Home Depot Inc. (HD) $358.63 -3.10% Unitedhealth Group Inc. (UNH) $291.66 -2.97% Merck & Co. Inc. (MRK) $81.52 -2.57% Travelers Company Inc. (TRV) $250.59 -1.91% Goldman Sachs Group Inc. (GS) $702.11 -1.57% Visa Inc. (V) $347.02 -0.99% Johnson & Johnson (JNJ) $155.36 -0.93% Cisco Systems Inc. (CSCO) $67.16 -0.89% Walt Disney Co. (DIS) $118.96 -0.84%

S&P 500 - Risers

Advanced Micro Devices Inc. (AMD) $155.57 8.15% AES Corp. (AES) $13.15 4.53% Nvidia Corp. (NVDA) $170.55 4.04% Fortinet Inc. (FTNT) $104.93 3.63% Citigroup Inc. (C) $90.64 3.59% TripAdvisor Inc. (TRIP) $18.24 3.11% Western Digital Corp. (WDC) $67.54 2.99% Broadcom Inc. (AVGO) $280.49 2.58% Oracle Corp. (ORCL) $234.96 2.48% KLA-Tencor Corp. (KLAC) $936.13 2.41%

S&P 500 - Fallers

State Street Corp. (STT) $102.07 -7.23% Helmerich & Payne Inc. (HP) $15.48 -6.01% Agilent Technologies Inc. (A) $113.21 -5.72% Newmont Corporation (NEM) $57.35 -5.71% Blackrock Inc. (BLK) $1,049.20 -5.60% Wells Fargo & Co. (WFC) $78.86 -5.48% Occidental Petroleum Corp. (OXY) $42.69 -5.28% Apache Corp. (APA) $18.64 -5.19% Whirlpool Corp. (WHR) $100.97 -5.18% Waters Corp. (WAT) $289.57 -4.80%

Nasdaq 100 - Risers

Baidu Inc. (BIDU) $93.29 9.03% Nvidia Corp. (NVDA) $170.55 4.04% JD.com, Inc. (JD) $32.05 3.58% Asml Holdings N.V. (ASML) $822.28 3.41% NetEase Inc. Ads (NTES) $133.12 3.19% Western Digital Corp. (WDC) $67.54 2.99% Broadcom Inc. (AVGO) $280.49 2.58% KLA-Tencor Corp. (KLAC) $936.13 2.41% Applied Materials Inc. (AMAT) $199.29 2.33% Micron Technology Inc. (MU) $120.05 1.94%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $2.64 -6.31% Align Technology Inc. (ALGN) $192.69 -4.34% Biogen Inc (BIIB) $127.56 -4.26% Hologic Inc. (HOLX) $63.26 -3.57% Biomarin Pharmaceutical Inc. (BMRN) $56.62 -3.03% Regeneron Pharmaceuticals Inc. (REGN) $547.86 -3.01% Liberty Global plc Series A (LBTYA) $9.75 -2.99% Tesla Inc (TSLA) $310.66 -2.92% Liberty Global plc Series C (LBTYK) $10.09 -2.80% J.B. Hunt Transport Services Inc. (JBHT) $148.53 -2.74%