A banner for LATAM Airlines hangs from the front of the New York Stock Exchange on Tuesday, Oct. 22, 2024, in New York. (AP Photo/Peter Morgan)
By STAN CHOE
Updated 4:25 AM GMT+7, October 23, 2024
NEW YORK (AP) — U.S. stock indexes barely budged after a quiet day of mixed trading on Tuesday.
The S&P 500 edged down by less than 0.1%. It was a tiny loss, but it still marked the first back-to-back drop for the index in a month and a half. The index fell modestly on Monday after coming off a sixth straight winning week, its longest such streak of the year.
The Dow Jones Industrial Average slipped 6 points, or less than 0.1%. Like the S&P 500, it’s been on a long, record-breaking rally and set its all-time high on Friday. The Nasdaq composite rose 0.2%.
General Motors jumped 10.4% for its best day since 2020 after delivering stronger profit and revenue for the latest quarter than analysts expected. It benefited from stronger sales to individual U.S. customers, even as sales slowed to large fleet buyers.
Philip Morris International was another one of the strongest forces pushing upward on the S&P 500 and rallied 10.5% after topping forecasts for both profit and revenue. CEO Jacek Olczak said the company is seeing momentum across regions and business lines, including growth for both its smoke-free business and for its combustible cigarettes.
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