04:21 PM EDT, 07/22/2025 (MT Newswires) -- US benchmark equity indexes were mixed on Tuesday as traders reacted cautiously to earnings reports and trade news, while weak economic data dampened investor sentiment.

* Chip stocks fell after The Wall Street Journal reported that SoftBank and OpenAI's $500 billion AI project faced early setbacks and scaled down its short-term goals. Despite the weakness in tech, the broader market held steady, led by a nearly 2% gain in the health-care sector. Small-cap stocks also performed well, with the Russell 2000 rising around 1%.

* So far, 88 S&P 500 companies have reported earnings, with over 82% surpassing analysts' expectations, CNBC reported Tuesday, citing FactSet data. Investors are closely watching company commentary on broader economic conditions, the effects of tariffs, and updates on demand and spending linked to artificial intelligence.

* The Richmond Fed's manufacturing index fell sharply to minus 20 in July from minus 8 in June, missing Bloomberg's forecast of minus 2 and pointing to a faster decline in factory activity. Meanwhile, the Philadelphia Fed's non-manufacturing index rose to minus 10.3 from minus 25.0, suggesting a slower rate of contraction in the service sector.

* August West Texas Intermediate crude oil fell $0.99 to settle at $66.21 per barrel, while September Brent crude, the global benchmark, was last seen down $0.42 to $68.79.

* Iqvia ( IQV ) shares were up nearly 18% after the healthcare company reported higher Q2 adjusted earnings and revenue.

* Lockheed Martin ( LMT ) shares fell about 11%% after the company reported lower fiscal Q2 earnings and reduced its earnings outlook for 2025.