Stocks seesawed to ended mostly firmer Tuesday with earnings in focus and a lack of major drivers in either direction. The Dow Jones industrial average eased 0.3 percent, the S&P 500 rose 0.2 percent, and the Nasdaq gained 0.4 percent. Oil prices and the dollar rose while US Treasury yields were mostly lower but higher at the long end.

Weakness in megacaps weighed on the market early but a rebound in Apple and other bellwethers helped the major indexes move recover. Trading remains cautious before Federal Reserve speeches this week and economic data reports including the inflation reading in the personal income and spending report due Thursday. A perception that positions remain stretched on the long side hangs over the market.

Among sectors, best were consumer discretionary, utilities, communications services, materials and industrials. Lagging were financials, health care and consumer staples.

Earnings news was in focus with a beat at Lowes and another restructuring at Macy's lifting consumer discretionary. Apple reacted positively to news it would exit the EV business. On the downside, Workday and Unity, two software companies, both fell on disappointing guidance.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.