The S&P 500 was flat on Tuesday as investors weigh tensions between the U.S. and China with House Speaker Nancy Pelosi beginning a visit to Taiwan, while continuing to watch earnings and economic data.
The Dow Jones Industrials stayed in the red, but had risen to within 62.24 points of breakeven to reach noon hour Tuesday at 32,736.16, weighed down by Caterpillar, which opened more than 4% lower after reporting disappointing quarterly earnings .
The S&P 500 fought its way out of the hole and collected 12.34 points to 4,130.97. The benchmark climbed off the lows as Pelosi's plane landed safely in Taiwan Tuesday morning. 91.8 points to 12,460.77.
Pelosi is expected to spend the night in Taiwan, Reuters reported. Leading up to the trip, Chinese officials threatened to act if Pelosi moved forward with the visit. Pelosi is the first House Speaker since Newt Gingrich in 1997 to visit Taiwan.
Traders are also looking ahead to another raft of earnings from companies such as Starbucks, PayPal and Advanced Micro Devices on Tuesday after the bell.
On the economic data front, investors this week are awaiting the July nonfarm payrolls report slated for release Friday for further clues into the state of the economy and the job market.
Treasury prices fell Tuesday, raising yields to 2.69%, from Monday's 2.60%. Treasury prices and yields move in opposite directions.
Oil prices gathered 78 cents to $94.67 U.S. a barrel.
Gold prices added $3.80 to $1,791.50 U.S. an ounce.