01:30 PM EDT, 07/30/2024 (MT Newswires) -- US equity indexes traded mixed Tuesday as the Dow Jones Industrial Average eked out a gain after financials led the sectors intraday and technology extended declines ahead of mega-cap quarterly earnings post-bell.

The Nasdaq dropped 1.6% to 17,093.7, with the S&P 500 down 0.8% to 5,418.5 after midday on Tuesday. The Dow traded was up 0.1% at 40,580.8 after trading 0.5% higher earlier in the session. Financials and energy were top gainers, while technology and consumer discretionary paced the steepest decliners.

This week, US equity investors remain focused on potential signals from the Federal Reserve about the timing of its easing cycle and mega-cap technology earnings to judge whether a rotation out of the sector has legs.

The Federal Open Market Committee will likely announce its latest monetary policy decision Wednesday. There is a 96% chance the FOMC will hold its key rate steady on July 31, according to the CME FedWatch Tool Tuesday, but an 88% probability that it will cut the target rate on Sept. 18 as evidence mounts inflation is on a sustainable path toward the Fed's 2% target amid a softening labor market.

In economic news Tuesday, US job openings fell to 8.184 million in June from 8.230 million in May, according to the Bureau of Labor Statistics. The June level was, however, above the 8 million openings expected in a survey compiled by Bloomberg. It represents 4.9% of total employment, the same as in the previous month but down from 5.5% a year earlier.

The Conference Board's measure of consumer confidence rose to 100.3 in July from a downwardly revised 97.8 in June and above the 99.7 expected in a survey compiled by Bloomberg.

Most Treasury yields were down, with the 10-year 3.6 basis points lower at 4.14% and the two-year rate down 3.1 basis points to 4.35%.

Mega-caps Microsoft ( MSFT ) and Advanced Micro Devices ( AMD ) are among the technology companies reporting after the closing bell. The sector is heading lower this week and down over a month as quarterly earnings from heavyweights such as Alphabet (GOOG, GOOGL) have failed to boost its fortunes. Of the 31% technology companies reported in the S&P 500 as of Friday last week, the 3% growth in sales lags the 9.3% consensus estimate from FactSet for Q2 as of June 30, according to a note from D.A. Davidson. Earnings growth at 16.1% compared with the 15.7% projected for the sector.

In company news Tuesday, Howmet Aerospace ( HWM ) reported a stronger-than-expected increase in Q2 adjusted earnings and sales and raised its guidance for 2024. Shares soared 12.3% intraday, the top performer on the S&P 500.

Among the worst performers on the index was Merck ( MRK ) , with shares slumping 9.5% intraday after the company cut its full-year adjusted earnings forecast.

Delta Air Lines ( DAL ) hired attorney David Boies to pursue potential damages from CrowdStrike Holdings ( CRWD ) and Microsoft ( MSFT ) after an outage earlier this month, CNBC reported late Monday. Shares of CrowdStrike ( CRWD ) plunged 11.1% intraday, the laggard on the Nasdaq and the S&P 500.

West Texas Intermediate crude oil slumped 0.8% to $75.22 a barrel.

Gold rose 1.1% to $2,451.30 an ounce, and silver jumped 1.9% to $28.39.