Wall Street Steady as Earnings Reports Highlight Mixed Corporate Outlooks

Markets show resilience despite weak forecasts from Ford and Qualcomm, while trade tariff concerns weigh on the auto industry.

The S&P 500 edged up 0.1% in early trading, supported by gains in fashion and tobacco stocks, while the Dow Jones dipped 0.2%.
Ford's stock fell over 6% after issuing a disappointing 2025 earnings outlook, citing potential impacts from tariffs and EV segment losses.
Qualcomm shares dropped nearly 5% despite strong quarterly profits, as concerns rise over the broader wireless chip industry.
President Trump's proposed tariffs on Mexico and Canada could cost the auto industry billions, with Ford warning of higher car prices and supply chain disruptions.
Tapestry, the parent company of Coach and Kate Spade, surged 13.9% after outperforming profit expectations and raising its annual forecast.