Key Takeaways
\nThe S&P 500 slid 0.3% on Tuesday, July 29, 2025, snapping its streak of record-high closes as the U.S. and China concluded trade talks and the Fed kicked off its two-day policy meeting.UPS shares dropped after the parcel delivery company missed quarterly profit estimates and withheld full-year guidance, citing macroeconomic and trade-related uncertainties.Corning posted better-than-expected sales and profits for the second quarter, boosted by AI-driven demand for its fiber optic cables, and shares of the glassmaker surged.<\/p>\n
Major U.S. equities indexes lost ground Tuesday as investors pored over the latest earnings reports, monitored trade negotiations<\/a> with China, and looked ahead to Wednesday’s interest-rate announcement<\/a> from the Federal Reserve.\n<\/p>\n The S&P 500 slipped 0.3%, ending the benchmark index’s streak of six consecutive closing highs. The Nasdaq also retreated from record levels, declining 0.4%, while the Dow dropped 0.5%. Read Investopedia’s full coverage of today’s trading here<\/a>.\n<\/p>\n Shares of heating, ventilation, and air conditioning specialist Carrier Global (CARR<\/a>)\u00a0posted the heaviest drop of any S&P 500 stock Tuesday, sinking nearly 11%. Despite reporting stronger-than-expected second-quarter profit and meeting revenue forecasts, Carrier trimmed its full-year outlook for organic growth in residential markets. The company also discussed headwinds in the light commercial segment and challenges in international markets.\n<\/p>\n Package delivery giant United Parcel Service (UPS<\/a>)\u00a0reported mixed quarterly results, with revenue edging ahead of estimates but earnings per share missing the mark<\/a>. A decline in average daily domestic package volume contributed to a 3% year-over-year decline in revenue. The shipping company opted against providing full-year guidance for revenue and operating profit, citing uncertainties related to shifting trade policy and the macroeconomic outlook. UPS shares tumbled more than 10%, but fared a few ticks better than Carrier’s.<\/p>\n Brown & Brown (BRO<\/a>) shares dropped more than 10% after the insurance brokerage and risk management firm released second-quarter earnings. Although the company posted stronger-than-expected top- and bottom-line results, net income was down 10% from a year ago. During Brown & Brown’s earnings call, analysts raised questions about potential margin pressure and the possibility that softness in the insurance markets could stifle revenue growth.\n<\/p>\n Shares of Corning (GLW<\/a>) surged nearly 12%, securing the S&P 500’s strongest performance on Tuesday. The supplier of specialized glass for smartphone and television screens as well as fiber optic cables topped sales and profit estimates with its second-quarter results. The glassmaker has benefitted from increased demand for its cabling solutions related to the rapid buildout of artificial intelligence data centers. JPMorgan analysts said the possible launch of a foldable iPhone by Apple (AAPL<\/a>) could be another positive for Corning given the increased glass surface area and complexity.\n<\/p>\n