Stocks seesawed around unchanged to end narrowly mixed Tuesday after mostly favorable earnings reports. The Dow Jones industrial average gained 0.5 percent, the S&P 500 was flat and Nasdaq eased by 0.2 percent. US Treasury yields fell while the dollar and oil prices rose.

Upbeat results from Coca-Cola, GM and from 3M helped the Dow outperform and set a new closing record high. GM rallied after an earnings beat and after revising its guidance to show a smaller hit from tariffs. Zions Bancorp was another winner after the regional bank topped estimates despite disclosing credit trouble last week.

On the downside, technology shares got whacked after President Trump's latest offhand remark, this time saying his long-awaited meeting with China's leader next week might not happen. Markets have been rallying lately on the expectation that Trump and Chinese President Xi Jinping will strike a deal to cool the trade war, and it would be a shock to markets if it doesn't happen. On Monday Trump predicted a"fantastic" US-China trade pact. Looking ahead, earnings are due from key megacaps this week including Netflix and Tesla after a mostly positive start to earnings season.

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.