US Stocks Drift to Mixed Finish Tuesday02/10 15:26

   Stocks drifted on Wall Street Tuesday following a mixed set of profit 
reports from big U.S. companies, as Hasbro jumped but Coca-Cola slipped.

   NEW YORK (AP) -- Stocks drifted on Wall Street Tuesday following a mixed set 
of profit reports from big U.S. companies, as Hasbro jumped but Coca-Cola 
slipped. Hopes also built that the Federal Reserve will cut interest rates 
later this year to boost the economy following a discouraging report on the 
strength of U.S. shoppers.

   The S&P 500 fell 0.3% after briefly rising above its all-time high, which 
was set a couple weeks ago. The Dow Jones Industrial Average added 52 points, 
or 0.1%, to its own record, while the Nasdaq composite fell 0.6%.

   The action was stronger in the bond market, where Treasury yields fell after 
a report showed U.S. retailers made less money at the end of last year than 
economists expected. Shoppers spent roughly the same amount in December as they 
did in November, less than the modest growth that economists expected.

   That could signal a loss of momentum for spending by U.S. households, which 
is the main engine of the economy. It also came ahead of two more anticipated 
reports coming later in the week. On Wednesday, the U.S. government will give 
the latest monthly update on the unemployment rate, while a Friday report will 
show how bad inflation is for U.S. consumers.

   Altogether, the data should help the Federal Reserve decide what to do with 
interest rates. The Fed has put its cuts to interest rates on hold, and too-hot 
inflation could keep it on pause for a long time. But a weakening of the job 
market, on the other hand, could push it to resume cuts more quickly.

   One of the reasons the U.S. stock market has remained close to records is 
the expectation that the Fed will continue cutting rates later this year. Lower 
rates can give the economy a boost, though they can also worsen inflation.

   Following Tuesday's disappointing data on sales at U.S. retailers, traders 
upped bets that the Fed could cut interest rates three times or more this year, 
according to data from CME Group. Most still see two cuts as more likely.

   The yield on the 10-year Treasury sank to 4.14% from 4.22% late Monday.

   On Wall Street, mixed reactions to the latest profit reports from big U.S. 
companies helped to keep the market in check.

   Coca-Cola fell 1.5% after its revenue for the latest quarter fell short of 
analysts' expectations. It also gave a forecast for an important underlying 
measure of growth this upcoming year that was less than some analysts expected.

   S&P Global dropped 9.7% after giving a forecast for profit in the upcoming 
year that fell short of analysts' expectations. The company famous for its 
stock indexes has been struggling recently with worries that competitors 
powered by artificial-intelligence technology may steal customers for its data 
services. Its stock came into the day with a loss of 15% for the year so far.

   But Hasbro climbed 7.5% after topping analysts' expectations for profit and 
revenue in the latest quarter. The toymaker credited strength for its "Magic: 
The Gathering" game in particular, and it announced a program to send up to $1 
billion of cash to investors by buying back its own stock.

   DuPont rose 4.9% after the chemical giant reported better results for the 
latest quarter than analysts expected. It also gave a forecast for profit in 
2026 that topped analysts' expectations.

   Outside of earnings reports, Warner Bros. Discovery climbed 2.2% after 
Paramount said it upped its offer to buy the entertainment company.

   Paramount is increasing its offer of $30 per share by 25 cents per share for 
each quarter that its buyout has not closed past the end of this year. It's to 
show how confident Paramount is that its deal would get an OK from regulators 
at the government. Paramount also said it would pay $2.8 billion to help Warner 
Bros. Discovery get out of its buyout deal with Netflix.

   Paramount Skydance's stock added 1.5%, while Netflix rose 0.9%.

   All told, the S&P 500 fell 23.01 points to 6,941.81. The Dow Jones 
Industrial Average rose 52.27 to 50,188.14, and the Nasdaq composite fell 
136.20 to 23,102.47.

   In stock markets abroad, Japan's Nikkei 225 rallied for a second day on 
expectations that a newly elected parliament will help the country's prime 
minister push through tax cuts and other moves to boost the economy. The Nikkei 
225 rose 2.3% to another record.

   Gains for other Asian markets were more modest, while indexes were mixed in 
Europe.