Stock market today: Wall Street barely budges as GM’s best day in years offsets GE Aerospace tumble

NEW YORK (AP) — U.S. stock indexes barely budged after a quiet day of mixed trading on Tuesday.

The S&P 500 edged down by less than 0.1%. It was a tiny loss, but it still marked the first back-to-back drop for the index in a month and a half. The index fell modestly on Monday after coming off a sixth straight winning week, its longest such streak of the year.

The Dow Jones Industrial Average slipped 6 points, or less than 0.1%. Like the S&P 500, it’s been on a long, record-breaking rally and set its all-time high on Friday. The Nasdaq composite rose 0.2%.

General Motors jumped 10.4% for its best day since 2020 after delivering stronger profit and revenue for the latest quarter than analysts expected. It benefited from stronger sales to individual U.S. customers, even as sales slowed to large fleet buyers.

Philip Morris International was another one of the strongest forces pushing upward on the S&P 500 and rallied 10.5% after topping forecasts for both profit and revenue. CEO Jacek Olczak said the company is seeing momentum across regions and business lines, including growth for both its smoke-free business and for its combustible cigarettes.

Norfolk Southern climbed 4.9% after the railroad topped analysts’ forecasts for profit.

Trump Media & Technology Group jumped another 9.9% to bring its gain to 183% since hitting a bottom late last month. The company behind former President Donald Trump’s Truth Social platform is still losing money, but it tends to move more with the perceived chances of Trump’s reelection than anything else. It’s back above $34, but it’s still well below its peak above $66 reached in March.