Five-day winning streak ends

NE WY O R K » Stocks ended a five-day winning streak Tuesday as investors cautiously assessed the first big round of corporate earnings reports.

Technology companies fared the worst, weighed down by a 1.3 percent drop by Microsoft and a 1.9 percent slide by Intel.

Johnson & Johnson led health care stocks lower with its drop of 1.6 percent. The health care and pharmaceutical company’s full-year profit forecast remained mostly below analysts’ projections.

Financial stocks gave up early gains and turned mostly lower, although Goldman Sachs and JPMorgan Chase rose.

Energy companies also fell broadly.

Major indexes were mixed for much of the morning and turned lower at midday after President Donald Trump said: “We have a long way to go on tariffs with China.”

The S&P 500 fell 10.26 points, or 0.3 percent, to 3,004.04. That marked the first decline in the benchmark index after five days of gains. The Dow Jones industrial average fell 23.53 points, or 0.1 percent, to 27,335.63. The Nasdaq composite fell 35.39 points, or 0.4 percent, to 8,222.80. Small-company stocks rose slightly. The Russell 2000 index rose 0.17 of a point to 1,562.

A surprisingly good retail sales report for June had little impact on consumer product makers, though it did help push bond prices lower. The yield on the 10-year Treasury rose to 2.12 percent from 2.09 percent late Monday.

Industrial companies fared the best. JB Hunt Transport Services jumped 5.6 percent after the company beat Wall Street’s second-quarter profit forecasts. The trucking and logistics company also told investors that it expects volume will pick up in the second half of the year. Several other trucking and cargo-related companies also made gains. Ryder System rose 3.7 percent, Old Dominion rose 3.2 percent and Union Pacific rose 1.4 percent.

The latest round of corporate financial reports ramps up this week, and investors have low expectations. Wall Street is forecasting a 2.6 percent drop in profit for S&P 500 companies. It’s set to be the first backto-back quarterly decline in three years.

Investors are looking for reasons to remain cautious as companies release results and give forecasts for the remainder of the year, said Jack Ablin, the chief investment officer for Cresset Wealth management.

It’s still early to tally results, but so far the share of companies beating profit forecasts has been high, while many are reporting revenue shortfalls.

“That certainly doesn’t bode well for growth in the second half,” Ablin said.

Domino’s Pizza shed 8.7 percent after the national chain fell far short of Wall Street forecasts for a key sales measure during the second quarter.

Arrow Electronics fell 1.8 percent after the company slashed its profit forecast for the second quarter because of weak demand.

Blue Apron surged 35.5 percent after the meal-kit company said it will start offering recipes with Beyond Meat’s plantbased food. The company will start offering the options in August.

Despite the surge, Blue Apron is still down more than 90 percent from its initial public offering two years ago.