S&P 500 ekes out another record close Tuesday as traders react to latest earnings

The S&P 500 narrowly posted another fresh record close on Tuesday, as traders weighed the latest earnings reports and new trade developments.

The broad market index ticked up 0.06% to end at 6,309.62 and notch its 11th record close in 2025. The 30-stock Dow Jones Industrial Average rose 179.37 points, or 0.40%, settling at 44,502.44. By contrast, the Nasdaq Composite slipped 0.39% and closed at 20,892.69, bogged down by declines in tech stocks. It was the first negative day for the tech-heavy index in seven sessions.

Chip stocks were under pressure, as downbeat sentiment in the space was fueled by a report by The Wall Street Journal that said SoftBank and OpenAI’s $500 billion AI project has faced difficulties in getting underway and scaled down its near-term plans. Broadcom lost more than 3% and artificial intelligence darling Nvidia shed more than 2%. Taiwan Semiconductor Manufacturing dropped nearly 2%.

Meanwhile, shares of aerospace and defense name Lockheed Martin were down nearly 11% after the company’s revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 8% after the tobacco company’s second-quarter revenue fell short.

This comes as nearly 90 S&P 500 companies have reported, with almost 85% of those topping analysts’ estimates, according to FactSet data. Eyes are on commentary from companies about macroeconomic certainty, the impact of tariffs and details on demand and spending related to AI.