U.S. stocks fell on Wednesday morning after the earnings of a major automaker and a private sector jobs report came in lower than expected.
The Dow Jones Industrials tumbled 152.49 points to 34,963.91, after a sharp rise on Tuesday
The S&P 500 faltered 9.91 points to 4,413.24, from Tuesday’s all-time closing high.
The NASDAQ eked higher 4.51 points to 14,766.06.
Shares of General Motors fell about 7% in early trading, weighing on the broader market, after the automaker missed earnings expectations for the second quarter. The automaker did raise its guidance for a key profit metric for the rest of the year.
A strong earnings season continued after the bell Tuesday with Caesars Entertainment reporting stronger-than-expected results for the second quarter and citing a rebound to pre-pandemic levels of activity. Travel stocks MGM Resorts, Wynn Resorts and Booking Holdings will report after the bell on Wednesday.
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