NEW YORK — U.S. stocks held relatively steady in a calm Tuesday on Wall Street, as earnings reporting season ramped up for big companies.
UPS was one of the heaviest weights on the S&P 500 and tumbled 12.1% after delivering weaker profit and revenue for the spring than analysts expected. was the stock most forcefully pushing downward on the S&P 500. Its loss of 0.8% for the day was relatively modest, but the S&P 500 gives more weight to bigger stocks, and Nvidia is worth more than $3 trillion.
Zions Bancorp. jumped 6.2% after reporting better profit for the latest quarter than expected. It and stocks of other regional banks continue to recover from the industry’s mini- meant to get inflation under control. It climbed 6.9% after delivering stronger profit for the latest quarter than expected. It said it’s seeing growth in demand for paint from new residential customers, and it expects the momentum to continue through the year. by even more in June than economists expected.
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