US stocks end mixed amid earnings reports

US stocks end mixed amid earnings reports

New York, July 27 (IANS) US stocks closed mixed as investors digested a batch of quarterly earnings reports while eyeing the Federal Reserve’s policy meeting.

The Dow Jones Industrial Average on Tuesday fell 19.31 points, or 0.10 per cent, to 18,473.75. The S&P 500 edged up 0.70 point, or 0.03 percent, to 2,169.18, Xinhua news agency reported.

The Nasdaq Composite Index rose 12.42 points, or 0.24 per cent, to 5,110.05.

Before Tuesday’s opening bell, 3M reported second-quarter earnings of $2.08 per share, generally in line with market estimates.

The firm lowered its guidance for 2016 sales growth. Its shares dipped 1.10 percent to $177.66 apiece on Tuesday.

Shares of Caterpillar surged 5.16 per cent to $82.75 apiece on Tuesday after the US construction and mining equipment maker delivered better-than-expected quarterly results.

Shares of McDonald’s corp. tumbled 4.47 per cent to $121.71 apiece on Tuesday following the release of the company’s disappointing quarterly earnings report.

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