US stocks traded mixed on Tuesday as investors continue to digest a wave of third-quarter earnings results. More than half of the S&P 500 has reported, and about 78% of those companies beat profit estimates by a median of 6%, while 62% beat revenue estimates by a median of 2%, according to data from Fundstrat. Caterpillar reported better-than-expected revenue and profit, but warned that it expects to see weak demand from China. The stock fell about 6% in early Tuesday trades.
Main Idea: US stocks traded mixed as investors weighed a strong run of third-quarter earnings and watched the Federal Reserve begin its two-day meeting.
Key Points:
The Fed’s meeting could keep borrowing costs high, which can pressure mortgages, car loans, credit cards, and small business loans.
Strong earnings can support jobs, retirement accounts, and consumer confidence if companies stay profitable.
Rate how each entity in this article affected the American people.
Named Federal Reserve chair whose upcoming press conference is a major focus for investors.
Central policy body whose two-day meeting and expected pause in rate hikes are key to the article.
Broad market subject of the article’s opening framing and trading update.
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