Wall Street Sees Little Movement as GM Surge Offsets Losses

The U.S. stock markets experienced minimal fluctuations on Tuesday, as a significant rise in General Motors shares helped balance out losses elsewhere. Shares of General Motors jumped by 10.4% following the company's announcement of stronger-than-expected earnings. However, this was countered by a substantial decline in GE Aerospace, which saw its stock drop sharply.

• S&P 500: 5,851.20 ⬇️ down 0.0047%
• Nasdaq Composite: 18,573.13 ⬆️ up 0.18%
• Dow Jones Industrial Average: 42,924.89 ⬇️ down 0.016%
• STOXX Europe 600: 520.40 ⬇️ down 0.21%
• CSI 300: 3,957.78 ⬆️ up 0.57%
• Nikkei 225: 38,411.96 ⬇️ down 1.39%
• Bitcoin: $67,466.16 ⬆️ up 0.15%

U.S.: Stocks Slip Amid Rising Yields and Earnings Anticipation
The trading session on Tuesday was relatively calm, with the S&P 500 inching downward by less than 0.1%. This continued a slight decline that began earlier in the week, breaking a six-week winning streak. While the Dow Jones Industrial Average decreased by 0.016%, the Nasdaq Composite posted a modest gain of 0.18%, largely driven by the performance of technology stocks. The standout performer, General Motors, experienced its most significant daily increase since 2020, following the release of strong earnings and revenue figures. Conversely, GE Aerospace's stock fell by 9%, pulling the broader market down after it reported earnings that fell short of consensus.

Europe: Modest Declines Despite SAP Earnings Beat
In Europe, major markets saw declines as the Stoxx Europe 600 index fell by 0.21%. The decline was attributed to rising U.S. Treasury yields, which kept investors cautious. Nevertheless, there was a silver lining as SAP's shares rose by 5% after the German software company exceeded earnings expectations. However, overall market sentiment remained tepid, particularly in the healthcare and utilities sectors where performance lagged.

China: Marginal Gains Amid Broader Market Caution
Chinese markets showed a bit of resilience amid global uncertainty, with the CSI 300 index climbing by 0.57%, buoyed mainly by gains in real estate stocks. Traders in China remained optimistic ahead of several corporate earnings reports. Meanwhile, Hong Kong's Hang Seng index experienced a slight increase of 0.1%, with investors cautiously awaiting potential government economic support.

Japan: Shares Fall Ahead of National and U.S. Elections
In Japan, the Nikkei 225 dropped by 1.39%, driven by concerns that the current ruling coalition may lose its majority in upcoming elections on October 27. The decline was widespread across both financial and technology sectors, with Uniqlo-owner Fast Retailing seeing a significant drop of 3.18%. Additionally, fears surrounding potential inflation due to Donald Trump's rising popularity in U.S. polls weighed heavily on investor sentiment.

And Earnings Season Continues…
This week is packed with earnings reports, as 112 companies from the S&P 500 are set to announce their performance. Noteworthy reports are expected from Tesla, Coca-Cola, IBM, and Boeing on Wednesday.

Stocks, Earnings, Markets