FOX Business: Capitalism Lives Here
The Dow posted solid losses Monday as blue-chip heavyweights Goldman Sachs, IBM and Travelers stumbled.
As of 1:20 p.m. ET, the Dow Jones Industrial Average (DJI) fell 71.2 points, or 0.43%, to 16388, the S&P 500 (GSPC) rose 1.5 points, or 0.08%, to 1840 and the Nasdaq Composite (IXIC) climbed 16.6 points, or 0.39%, to 4214.
Wall Street was closed Monday for the Martin Luther King, Jr. holiday. Earnings season was in full swing Tuesday, with a slew of companies reporting quarterly results.
The three Dow components to report ahead of the bell, Verizon Communications (VZ), Johnson & Johnson (JNJ) and Travelers (TRV), also topped expectations. Computing behemoth IBM (IBM) is set to post its quarterly results after the bell.
Elsewhere in corporate news, Delta Air Lines (DAL) rallied after posting better-than-expected results. Alcoa (AA) jumped after analysts at JPMorgan Chase upped the aluminum maker to "overweight" from "neutral," according to Reuters.
There aren't any data due out on the U.S. economy until later in the week. However, a report over the weekend showed China's economy grew at an annual rate of 7.7% in the fourth quarter, down from 7.8% in the three months prior.
In commodities, U.S. crude oil futures climbed 28 cents, or 0.3%, to $94.65 a barrel. Wholesale New York Harbor gasoline rallied 1.5% to $2.66 a gallon. Gold fell $8.30, or 0.65%, to $1,244 a troy ounce.