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Stock market today: Stocks wobble as earnings roll in

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Earnings Reports,Dow

Stocks eyed a broader comeback from a steep sell-off as investors digested results from Bank of America and other heavyweights.

US stocks searched for direction in afternoon trading on Tuesday as the Dow looked to snap a six-day losing streak. The Dow Jones Industrial Average edged higher, climbing about 0.5%, or more than 150 points. Both the S&P 500 and tech-heavy Nasdaq Composite reversed earlier losses with the benchmark index trading mostly flat while the Nasdaq rose about 0.1%.

UnitedHealth shares added about 5% after the healthcare group beat quarterly profit estimates, even as it said it expects to take a $1.6 billion hit from a February cyberattack. Investors were also digesting more big bank results: Bank of America reported that first quarter profit dropped 18% year over year as a key revenue source weakened, while Morgan Stanley stock rose as it topped expectations. Elsewhere, BNY Mellon posted a profit beat while Johnson & Johnson reported a revenue miss.

 

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