Stocks drift on Wall Street as earnings reports rev up

Wall Street’s major stock indexes closed mixed Tuesday as more big companies delivered their financial results for the last three months of 2022 amid lingering concerns about a potential recession.

The latest batch of earnings show companies continue to struggle with the effects of inflation on consumers and supply chains. Post-it notes and industrial coatings maker 3M fell 6.2% for the biggest drop among S&P 500 stocks after reporting weak fourthquarter earnings and announcing job cuts.

The S&P 500 slipped 2.86 points (less than 0.1%) to 4,016.95. The Nasdaq gave up 30.14 (0.3%) to close at 11,334.27, while the Dow added 104.40 (0.3%) to 33,733.96. The Russell 2000 slid 5.16 (0.3%) to finish at 1,885.61.