Stock market today: Dow, S&P 500, Nasdaq waver amid earnings rush, Bessent confirmation hearing

With strong earnings from major banks suggesting a resilient financial sector and expectations of potential interest rate cuts from the Federal Reserve, the outlook for Bank of America and Morgan Stanley remains positive. Both stocks are likely to experience an upward trend as Wall Street confidence grows in the wake of their impressive earnings reports.

Tech stocks like Apple and Tesla are facing headwinds due to slowing sales and market performance challenges. Apple's concerns surrounding sales in China and Tesla's need to offer discounts raise red flags for investors expecting growth in these areas. The anticipated sluggish performance could lead to declines in their stock prices in the near future.

Mixed economic signals, including less than expected retail sales growth, may lead to cautious investor sentiment overall. This could result in some volatility in major index ETFs, with a potential bias towards a negative short-term outlook due to uncertainty in consumer spending and economic performance measures.