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Royal Caribbean rises on higher-than-expected profit

forecast

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Lockheed Martin ( LMT ) drops after lower 2025 profit view

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Indexes up: Dow 0.01%, S&P 500 up 0.12%, Nasdaq up 0.54%

(Updates after markets open)

By Shashwat Chauhan and Sukriti Gupta

Jan 28 (Reuters) - The S&P 500 swung between gains and

losses on Tuesday as advancing megacap stocks including Apple ( AAPL )

helped arrest declines even as a mixed bag of corporate earnings

fueled volatility.

General Motors ( GM ) slid 8.2% despite the company posting

fourth-quarter results and a 2025 earnings forecast ahead of

expectations. Boeing ( BA ) shares, last up 6%, were volatile

after the planemaker reported its biggest annual loss since

2020.

At 10:02 a.m. ET, the Dow Jones Industrial Average

rose 3.93 points, or 0.01%, to 44,717.51, the S&P 500

gained 6.97 points, or 0.12%, to 6,019.42 and the Nasdaq

Composite gained 105.38 points, or 0.54%, to 19,447.21.

Nine of the 11 S&P 500 sectors were in the red, with

utilities and industrials leading declines.

Helping limit losses on the Nasdaq, Apple ( AAPL )

jumped 2.5% early on, while most megacap stocks also trended

higher after a bruising Monday.

The previous session's steep decline in tech stocks came

after Chinese startup DeepSeek launched artificial intelligence

models it said were on a par or better than industry-leading

rivals in the United States at a fraction of the cost.

AI chip leader Nvidia ( NVDA ) rose 1.5% a day after $593

billion was wiped off its market value in the biggest

single-session loss for any company. A gauge of semiconductor

shares edged 0.1% lower after losing more than 9% on

Monday.

"We've been skeptical of the valuations and the recent moves

in some of these names that are levered to the (AI) story," said

Keith Buchanan, senior portfolio manager at GLOBALT Investments.

"The valuation gap between those names and the market had

made those names vulnerable to a pullback."

The tech-heavy Nasdaq dropped more than 3% on

Monday, its worst single-day showing in more than a month, while

the benchmark S&P 500 fell close to 1.5%.

On Tuesday, Royal Caribbean gained 7.9% as the

cruise operator forecast annual profit largely above

expectations, while Lockheed Martin ( LMT ) dropped 8.5% after

the defense giant forecast 2025 profit below estimates.

Aerospace and defense major RTX gained 2.5% after

posting a rise in quarterly profit.

Earnings from "Magnificent 7" members Microsoft ( MSFT ),

Facebook-parent Meta, Apple ( AAPL ) and Tesla

are due later this week.

Also in focus, the Federal Reserve is widely expected to

hold its lending rate steady in its first interest-rate decision

of the year on Wednesday, while the December reading of personal

consumption expenditures (PCE) is scheduled for Friday.

U.S. President Donald Trump said late on Monday he plans to

impose tariffs on imported computer chips, pharmaceuticals and

steel.

A media report said newly elected Treasury secretary Scott

Bessent has been pushing for new universal tariffs on U.S.

imports to start at 2.5% and rise gradually by the same amount

each month.

Markets have been on edge about Trump's proposed tariffs due

to concerns they could worsen inflationary pressures and slow

Fed rate cuts.

Declining issues outnumbered advancers by a 1.28-to-1 ratio

on the NYSE and by a 1.47-to-1 ratio on the Nasdaq.

The S&P 500 posted 19 new 52-week highs and 3 new lows

while the Nasdaq Composite recorded 31 new highs and 78 new

lows.