US stocks opened mixed on Tuesday, with the S&P 500 and Nasdaq slipping as investors grew uneasy over the lack of progress on global trade negotiations.
The S&P 500 fell 0.3%, while the Nasdaq Composite lost 0.5%. The Dow Jones Industrial Average, however, managed a modest gain, adding 96 points or 0.2%.
Markets turned lower after US Treasury Secretary Scott Bessent, speaking at the White House, failed to provide meaningful updates on key trade talks.
While Bessent said substantial discussions were ongoing with Japan and a framework for a deal with India appeared close, he offered no specifics on negotiations with China, nor did he confirm whether talks were even taking place.
The ambiguity added to investor anxiety over escalating tariff risks.
Stocks in the news
Amazon shares dropped more than 1% after White House press secretary Karoline Leavitt called a reported plan by the e-commerce company to itemize tariff-related costs on its site a “hostile and political act.”
The comments, delivered alongside Bessent, appeared to deepen tensions between the administration and major corporate players.
General Motors also fell by over 2%. While the automaker beat profit expectations for the quarter, it suspended additional share buybacks and said it was reassessing its full-year guidance due to continued tariff uncertainty.
Coca-Cola shares traded flat in early trade after the company reported better-than-expected first-quarter earnings and revenue.
The beverage giant also reaffirmed its full-year guidance, providing a degree of reassurance to investors amid heightened global trade uncertainty.
In a statement, Coca-Cola said it expects any fallout from President Donald Trump’s tariff measures to be “manageable,” indicating confidence in its global supply chain and pricing strategies.
Markets are looking at earnings next
Investors are now looking ahead to earnings reports from major tech firms and further developments on trade, as market sentiment remains fragile.
Today’s volatile start comes after US stocks ended mixed on Monday, with the S&P 500 managing to log a fifth consecutive day of gains by a razor-thin margin.
The index added just 0.06%, while the Dow Jones Industrial Average rose 114.09 points, or 0.28%. The Nasdaq Composite slipped 0.1%, weighed down by weakness in tech names.
All three major benchmarks swung sharply during the session.
The Dow traded in a 540-point range, falling as much as 240 points before rebounding to gain nearly 300 points at its high.
General Motors, UPS, Coca-Cola, PayPal, JetBlue, and Pfizer all released their results before the opening bell, with Starbucks and Snap set to report after the market closes.
The earnings deluge comes at a critical juncture, with markets on edge over corporate outlooks and macroeconomic signals.
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