Stock market today: Wall Street holds steady as earnings reports wind down

NEW YORK — U.S. stocks are holding relatively steady as trading on Wall Street calms following some sharp recent swings. The S&P 500 was up 0.2% in early trading Tuesday, coming off a strong three-day winning streak. The Dow Jones Industrial Average rose 35 points, and the Nasdaq composite added 0.2%. The Walt Disney Co. sank after reporting revenue that fell a bit shy of forecasts. Disney also said it expects its streaming business to soften.

Corporate profit reports have been better than expected, not just in the United States but also in Europe and Japan, according to strategists at Deutsche Bank. Global earnings growth is on track for a second straight quarter of growth following four consecutive declines. Traders are betting on a nearly 89% chance that the Fed will cut its main interest rate at least once before the end of the year, according to data from CME Group. That’s up from from an 81.6% probability seen a week earlier. Lower rates would help ease the pressure on the economy and financial system.

The Kospi in South Korea surged 2.2% to 2,734.36, helped by big tech companies like Samsung Electronics, which racked up a 4.8% gain, and smaller rival SK Hynix, which added 3.7%.

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