Earnings Report

Hyundai Motor Co. says its net profit for the second quarter has fallen 14 percent over a year earlier due to the South Korean won's strength against the U.S. dollar.

Job cuts equal 22% of non-manufacturing workforce.

South Korean chipmaker SK Hynix says its quarterly net profit surged 75 percent to a record high.

The e-commerce giant reports second-quarter earnings Thursday.

Automakers say steel and aluminum tariffs drove commodity expenses higher.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose in the most recent quarter.

___ Trump, European Union leaders pull back from trade war WASHINGTON (AP) — President Donald Trump and European leaders pulled back from the brink of a trade war over autos Wednesday and agreed to open talks to resolve a dispute over steel and to tear down trade barriers between the United States and the European Union.

An escalating trade war and steep tariffs on steel and aluminum is putting pressure on earnings for automakers.

U.S. stock indexes edged mostly higher in early trading Wednesday following a mixed batch of quarterly earnings results from General Motors, Boeing, Coca-Cola and other companies.

Dinged by slumping China sales and a fire at a U.S. parts factory, Ford Motor Co.'s second-quarter net profit fell 48 percent from a year ago.

Boeing Co. says its second-quarter profit was $2.2 billion.

Mattel says it will cut 2,200 jobs as the maker of Barbie dolls and Hot Wheels cars tries to save money.

Payment processing giant Visa says its fiscal third-quarter profits rose an adjusted 36 percent from a year ago, helped by an 11 percent increase in the amount people spent on its namesake network.

The social media giant is on track to wipe out all of this year's gains and enter bear market territory.

The latest on developments in financial markets (all times local): 9:35 a.m.

Shares of the big carmaker have fallen 10% on a year-to-date basis

General Motors, facing rising commodity costs in a trade showdown with Europe and elsewhere, cut its outlook for the year.

Coca-Cola is reporting strong profit and revenue numbers, thanks in part to rising demand for Diet Coke and Coca-Cola Zero Sugar in North America.