US stocks hit pause on a record-setting rally as the focus turned to the day’s stream of earnings for insight into the health of corporate America and the economy.
The Dow Jones Industrial Average (^DJI) was down about 0.1% after the blue-chip index broke above 38,000 for the first time on Monday. The S&P 500 (^GSPC) added around 0.1% to hold near a record close, while the tech-heavy Nasdaq Composite (^IXIC) also popped 0.1%.
Stocks have bounced out of their early January slump in recent days as investors increasingly embrace the idea the Federal Reserve could nail a “soft landing” for the US economy. Data showing resilience in the face of higher-than-usual interest rates has buoyed those expectations.
Read more: What the Fed rate-hike pause means for bank accounts, CDs, loans, and credit cards
An upbeat 2024 profit forecast from United Airlines (UAL) helped lift its shares by 7% on Tuesday.
Shares of other airlines, including Delta (DAL) and American Airlines (AAL), rose after the forecast, which came even as United warned of a hit from the grounding of its Boeing 737 Max 9 planes.
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