Cost of Japan’s tariff deal with the US
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The company reported an adjusted loss of 42 cents per share, wider than Wall Street's projected 12-cent loss, according to consensus estimates. Revenue fell 7% year over year to $10.104 billion, missing the $10.252 billion estimate.
Stocks are slightly higher in early trade as earnings, Fed signals, and a cooler tone on trade tensions help steady sentiment. The Dow is leading thanks to strong reports from 3M (MMM) and American Express (AXP), while the Nasdaq is lagging after Netflix (NFLX) fell post-earnings.
S tocks closed down significantly on Monday after President Donald Trump announced steep tariffs on seven countries and threatened to impose new levies on others. The Dow Jones Industrial Average closed down 422 points, or 0.9%, while the S&P 500 dropped 0.7%. The tech-heavy Nasdaq declined 0.9%.
The moves come after Wall Street saw a winning session, with the S&P 500 posting fresh intraday and closing records.