(MENAFN) U.S. equities closed Tuesday with mixed results as investors absorbed a fresh wave of corporate earnings, largely beating expectations but stirring uneven sector performances.

The Dow Jones Industrial Average climbed 218.16 points, or 0.47%, to close at a record high of 46,924.74. The S&P 500 edged up marginally by 0.22 points, less than 0.01%, finishing at 6,735.35, while the tech-heavy Nasdaq Composite slipped 36.88 points, or 0.16%, to 22,953.67.

Most sectors in the S&P 500 fell, with eight out of eleven declining. Utilities and communication services led the downturn, dropping 0.99% and 0.85%, respectively. Conversely, consumer discretionary and industrials outperformed, advancing 1.32% and 0.88%.

Shares of Coca-Cola and 3M bolstered the Dow, surging 4.1% and 7.7%, respectively, following quarterly earnings that outpaced Wall Street forecasts. General Motors soared 14.9% after exceeding profit estimates and raising its full-year outlook.

Louis Navellier, founder and chief investment officer at Navellier & Associates, commented, "This is a good sign that big multinational stocks are posting better than expected results," adding, "This essentially means the Q3 announcement season is off to a strong start and that we are going to have a great year-end rally."

Despite solid earnings and heightened demand, shares of major defense contractors dipped. Lockheed Martin fell 3.2%, and Northrop Grumman slipped 0.44% amid cautious investor sentiment. Attention now shifts to Tesla’s Q3 earnings, scheduled for release Wednesday, a pivotal moment for the market.

Meanwhile, the U.S. federal government shutdown continues, marking the third-longest in history, with no resolution in sight as economic pressures intensify.

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