Mixed Performance on Wall Street as Tech Reports Loom

The development was mixed on Wall Street ahead of the upcoming report releases from the major tech companies.

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Mixed Performance on Wall Street as Tech Reports Loom
Photo: Mark Lennihan/AP/TT

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The broad S&P500 index rose marginally on Tuesday, 0.1 percent, while the technology-heavy Nasdaq's composite index fell back 0.4 percent. The Dow Jones industrial index closed at a plus 0.4 percent.

Google's parent company Alphabet continued upwards, plus 0.5 percent ahead of the interim report on Wednesday. Tesla is also releasing its report and the share rose 1.1 percent.

The American car manufacturer General Motors (GM), which reported a profit decline for the second quarter, fell back as much as 8.2 percent. The company is also flagging that the negative effect of tariffs can be expected to increase during the current third quarter.

The same applied to Saab competitor Lockheed Martin, which, among other things, manufactures combat aircraft, fell sharply, minus 11 percent, after a report that did not live up to the market's expectations.

The same applied to tobacco giant Philip Morris, which raised its profit forecast for 2025, partly with the help of the tobacco-free nicotine snus Zynt. But the share fell 8.5 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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