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© Reuters.
By Geoffrey Smith
Investing.com — U.S. stock markets opened a touch lower on Tuesday, with heavy selling in Chinese markets, the start of the Federal Reserve’s policy meeting and the prospect of earnings from megacap U.S. tech companies all arguing in favor of caution in the near term.
By 9:35 AM ET (1335 GMT), the was down 177 points, or 0.5% at 34,968 points. The was also down 0.5% and the was down 0.4%. All three had finished at record highs on Monday, supported by an ongoing earnings season that is broadly living up to expectations.
Another marginal headwind came from June’s , which rose by less than forecast at only 0.3%. That was their weakest performance in five months.
However, many of the industrials reporting earnings before the bell had positive stories to tell. General Electric (NYSE:) stock rose 3.3% after it raised its full-year outlook for industrial cash flow, the metric most closely tracked by the market. The report reflected improved conditions for its aviation division, as revenue from servicing aero engines picked up in line with the revival in air travel. The same factor also enabled Raytheon (NYSE:) – the owner of Pratt & Whitney – to beat expectations with its earnings update. Raytheon stock rose 2.7%.
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