Stocks were mixed but mostly better Tuesday, with support from earnings and hopeful trade news, though technology shares lost ground. The Dow Jones industrial average rose 0.4 percent, the S&P 500 firmed 0.1 percent and the Nasdaq was down 0.4 percent. US Treasury yields, the dollar and oil prices all declined.

Mostly positive earnings news underpinned sentiment, including in aerospace names and homebuilder though some big names suffered misses, including General Motors, Lockheed Martin, and Phillip Morris. Some Magnificent Seven names came under selling pressure ahead of their earnings reports starting Wednesday to weigh on the Nasdaq.

On a quiet macro news day, trade news appeared hopeful, including Treasury Secretary Scott Bessent's comment that the deadline for a deal with China is likely to be extended, President Trump's claim to have reached a deal with Philippines.

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.