Stocks fell Tuesday, following a wild January on Wall Street that saw investors struggle with a Federal Reserve policy shift.
The Dow Jones Industrials faded 45.77 points to start Tuesday at 35,086.09.
The S&P 500 slid 12.3 points to 4,508.25.
The NASDAQ docked 82.36 points to 14,157.62.
Shares of UPS jumped 13% after the shipping company beat earnings estimates and raised its quarterly dividend 49%. Its rival FedEx added 3%, despite suspending some services due to COVID.
Shares of Exxon Mobil gained more than 3% after the company reported better-than-expected quarterly earnings and revenue that jumped more than 80% year over year.
Tesla fell 2.7% after the company issued a recall on about 53,000 cars with its self-driving software in the U.S.
The moves follow a two-day rally on Wall Street that ended a volatile month of trading.
In corporate news of note, AT&T said it will be shedding its stake in WarnerMedia following a planned merger of the unit with Discovery.
AT&T's board also approved a post-close annual dividend of $1.11, compared to the current rate of $2.08, due to the spinoff. Shares fell 4% following the news. Discovery shares fell 4.9%.
Investors are awaiting more key earnings reports, with Alphabet, General Motors, Starbucks, AMD and PayPal due after the close.
So far, of the 172 companies in the S&P 500 that have reported earnings to date, 78.5% topped analysts' estimates
Prices for 10-year Treasurys faltered, raising yields to 1.81% from Monday's 1.78%. Treasury prices and yields move in opposite directions.
Oil prices fell 32 cents to $87.83 U.S. a barrel.
Gold prices collected $7.20 to $1,803.60 U.S. an ounce.