US open: Stocks lower as Q3 earnings continue to roll in

(Sharecast News) - Wall Street stocks were in the red early on Tuesday as Q3 earnings season kicked up a gear.

As of 1530 BST, the Dow Jones Industrial Average was down 0.41% at 42,889.48, while the S&P 500 lost 0.04% to 5,857.53 and the Nasdaq Composite came out the gate 0.13% weaker at 18,478.04.

The Dow opened 175.74 points lower on Tuesday, reversing a sizeable chunk of yesterday's gains.

Earnings were set to be Tuesday's primary focus, with UnitedHealth revealing that medical costs had exceeded Wall Street estimates during Q3, while Johnson & Johnson delivered a Q3 earnings beat and upped its full-year guidance.

As far as banks were concerned, Goldman Sachs reported a 45% quarterly profit jump on a solid investment banking performance, while Bank of America also exceeded profit estimates thanks to stronger-than-expected investment banking, and Citigroup delivered Q3 profits that fell far less than expected.

On the macro front, the New York Federal Reserve's Empire State manufacturing index crashed to -11.9 in October, down from a reading of +11.5 in September to surprise economists who were expecting a reading of +3.8. October's print, which marked the worst reading since May, came as new orders slumped 20 points to -10.2 and shipments dropped 21 points to -2.7.

Still to come, Federal Reserve bankers Mary Daly and Adriana Kugler will deliver speeches at 1630 BST and 1800 BST, respectively.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.08 12.00% Apple Inc. (AAPL) $236.71 2.34% Johnson & Johnson (JNJ) $164.63 1.87% Walmart Inc. (WMT) $81.04 0.93% Verizon Communications Inc. (VZ) $43.56 0.87% American Express Co. (AXP) $278.79 0.82% Home Depot Inc. (HD) $417.96 0.61% Boeing Co. (BA) $149.86 0.58% Merck & Co. Inc. (MRK) $110.33 0.58% JP Morgan Chase & Co. (JPM) $222.71 0.56%

Dow Jones - Fallers

Unitedhealth Group Inc. (UNH) $546.18 -9.78% Chevron Corp. (CVX) $148.68 -2.04% Caterpillar Inc. (CAT) $389.11 -1.23% Dow Chemical Co. (DOW) $53.19 -0.65% Intel Corp. (INTC) $23.34 -0.41% Salesforce.Com Inc. (CRM) $290.69 -0.33% Goldman Sachs Group Inc. (GS) $521.21 -0.29% Coca-Cola Co. (KO) $70.29 -0.06% Dowdupont Inc. (DWDP) $0.00 0.00% Walt Disney Co. (DIS) $95.00 0.03%

S&P 500 - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.08 12.00% Charles Schwab Corp. (SCHW) $72.85 7.42% CenturyLink Inc. (LUMN) $6.35 4.44% Carnival Corp. (CCL) $21.04 4.11% American Airlines Group (AAL) $12.30 3.58% Norwegian Cruise Line Holdings Ltd (NCLH) $24.17 3.51% Universal Health Services Inc. (UHS) $226.90 2.93% Under Armour, Inc. (UA) $8.63 2.86% Foot Locker Inc. (FL) $24.44 2.84% Cencora Inc (COR) $231.07 2.78%

S&P 500 - Fallers

Coty Inc. Class A (COTY) $8.16 -11.06% Unitedhealth Group Inc. (UNH) $546.18 -9.78% Apache Corp. (APA) $25.26 -5.37% Helmerich & Payne Inc. (HP) $34.10 -5.25% Diamondback Energy Inc. (FANG) $182.07 -4.53% Elevance Health Inc. (ELV) $486.81 -4.36% Humana Inc. (HUM) $256.26 -4.24% Centene Corp. (CNC) $69.96 -4.03% Halliburton Co. (HAL) $29.36 -3.99% Devon Energy Corp. (DVN) $41.21 -3.88%

Nasdaq 100 - Risers

Walgreens Boots Alliance, Inc. (WBA) $10.08 12.00% American Airlines Group (AAL) $12.30 3.58% Western Digital Corp. (WDC) $68.50 2.51% Apple Inc. (AAPL) $236.71 2.34% Sirius XM Holdings Inc (SIRI) $27.50 2.21% Qurate Retail Inc. (QRTEA) $0.62 2.21% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $376.99 2.08% Seagate Technology Plc (STX) $113.36 2.08% Ross Stores Inc. (ROST) $146.13 1.96% Electronic Arts Inc. (EA) $146.62 1.70%

Nasdaq 100 - Fallers

JD.com, Inc. (JD) $41.24 -6.57% Trip.com Group Limited (TCOM) $59.96 -5.78% Wynn Resorts Ltd. (WYNN) $100.16 -3.65% Baidu Inc. (BIDU) $96.85 -2.28% Broadcom Inc. (AVGO) $179.09 -1.77% Nvidia Corp. (NVDA) $135.70 -1.71% Paypal Holdings Inc (PYPL) $79.76 -1.12% NetEase Inc. Ads (NTES) $84.17 -0.99% Netflix Inc. (NFLX) $706.43 -0.92% Meta Platforms Inc. (META) $586.28 -0.70%