NEW YORK — Stocks are opening slightly lower on Wall Street as earnings reporting season ramps up for big U.S. companies. The S&P 500 edged down 0.1% in early Tuesday. The Dow Jones Industrial Average slipped 69 points, or 0.2%, and the Nasdaq composite was down 0.2%. Dozens of companies in the S&P 500 are reporting their results for the spring, with a couple highly influential Big Tech companies coming after trading ends for the day: Google’s parent company Alphabet and Tesla.
General Motors beat analysts sales and profit targets, sending its shares 2.5% higher before the bell. Coca-Cola Co. rose 1.5% after the beverage giant beat Wall Street forecasts and raised its full-year sales outlook. China's central bank cut two key interest rates by 10 basis points on Monday, moving to ease credit and pep up the economy, following a major policymaking meeting of the ruling Communist Party that focused on longer-term reforms.
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