Stocks Hover Near Record Highs Amid Mixed Earnings

The S&P 500 and the Dow opened near record highs as an in-line inflation report bolstered rate cut expectations. Mixed quarterly results from JPMorgan and Delta Air Lines influenced investor sentiment. The Dow Jones increased slightly, while the S&P 500 and Nasdaq Composite remained mostly steady.

The S&P 500 and Dow Jones Industrial Average opened near record highs on Tuesday, buoyed by a largely in-line inflation report that reinforced expectations of interest rate cuts later this year. Investors considered mixed quarterly results from major companies like JPMorgan and Delta Air Lines.

At the opening bell, the Dow Jones rose slightly by 26.8 points, or 0.05%, reaching 49616.95. Meanwhile, the S&P 500 witnessed a minor decline of 0.1 points, maintaining a level of 6977.41. The Nasdaq Composite edged up by a nominal 1.2 points or 0.01%, tallied at 23735.122.

The market showed resilience amid a mixed bag of earnings reports, keeping the focus on upcoming economic indicators and potential moves from the Federal Reserve concerning interest rates.

(With inputs from agencies.)