The Dow Jones Industrial Average was flat on Tuesday as traders digested a slew of earnings reports that offered insight into how companies are faring against a backdrop of rising rates and sticky inflation.
The 30-stock index wilted in the first hour Tuesday by 98.21 points to 33,888.97, dragged lower by shares of Goldman Sachs.
The S&P 500 gained 9.33 points to 4,160.65.
The NASDAQ jumped 53.17 points to 12,210.89.
Major benchmarks fluctuated as investors assessed the latest batch of key earnings reports. Despite a tough economic environment, Bank of America surpassed first-quarter expectations on the top and bottom lines as rates rose, but shares traded flat.
Johnson & Johnson's stock declined 2.6% even after the drugmaker beat estimates and raised its 2023 guidance.
Elsewhere, Goldman Sachs reported lighter-than-expected first-quarter revenue, dragged down by a $470 million hit from its Marcus loans. Shares slumped 3%.
Technology stocks proved a bright spot in early morning trading with Apple and Salesforce last up 1% each, helping to lift the S&P's information technology sector 1%. Chipmaker Nvidia popped 4% on the back of a double upgrade from HSBC. Netflix, slated to report after the bell, added 1%.
Prices for the 10-year Treasury gained ground, lowering yields to 3.57% from Monday's 3.60%. Treasury prices and yields move in opposite directions.
Oil prices sank 41 cents to $80.42 U.S. a barrel.
Gold prices recovered $4.30 to $2,011.30 U.S. an ounce.