Stocks in the U.S continued mixed Tuesday midday after consumer inflation in June rose unexpectedly and earnings season kicked off with reports from JPMorgan Chase and Goldman Sachs.
The Dow Jones Industrial Average fell 17 points, or 0.05%, to 34,979, the S&P 500 gained 0.14% and the Nasdaq rose 0.43%, led higher by Apple and Microsoft.
The S&P 500 and Nasdaq set all-time intraday highs in trading Tuesday.
JPMorgan Chase shares dipped even after posting second-quarter earnings of $11.9 billion, or $3.78 per share, which exceeded the $3.21 estimate.
Goldman Sachs Group (GS) posted stronger-than-expected second quarter earnings Tuesday thanks to a surge in asset management and investment banking revenues. Goldman said earnings for the three months ending in June were pegged at $15.02 per share, nearly 140% higher than last year's tally and firmly ahead of the Street consensus forecast of $10.24 per share. Group revenues, Goldman said, rose 16% to $15.4 billion, the second highest on record that again beat analysts' forecasts of a $12.1 billion total.
PepsiCo shares added more than 2% after the company crushed estimates for its second-quarter earnings and revenue, fueled by returning restaurant demand. The drink and snack giant also raised its forecast.
Meanwhile, shares of Boeing fell more than 3%, weighing on Dow sentiment, after the plane maker cut 787 Dreamliner production following the detection of a new flaw.
The consumer price index, the nation's key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the biggest jump in annual inflation in nearly 13 years.
The yield on the benchmark 10-year Treasury dipped Tuesday to 1.358%.