Stocks opened higher Tuesday, putting the S&P 500 and Nasdaq Composite on track for new record highs. But the main indexes had swung lower by lunchtime as market participants parsed the latest round of corporate earnings reports and looked ahead to tomorrow's conclusion of the July Fed meeting.
Among the day's biggest post-earnings movers was Novo Nordisk (NVO), which cratered 21.8% after the Danish drugmaker cut its outlook for 2025.
