Stocks remained lower Tuesday amid revenue weakness in the latest round of earnings reports and another disappointing housing report.
Health care, technology and financials were among the weakest-performing sectors today, while materials, energy and consumer staples advanced.
The Dow Jones Industrial Average was down more than 70 points, led by IBM , Pfizer and Johnson & Johnson .
Just a handful of gainers on the Dow, including consumer components Coca-Cola and Walmart .
Goldman Sachs shares were mostly flat as the banking giant beat earnings expectations but, true to this season, revenue missed expectations.
Johnson & Johnson shares were also lower after the health care giant reported a increase in earnings but flat revenueamid ongoing recalls of popular nonprescription medicines. The company also reduced its profit forecast for the year by 15 cents a share.
Techs, some of the best performers on Monday, were among the hardest hit today after disappointing earnings late Monday from IBM and .
Analyst reactions to the tech firms have been mixed: JPMorgan raised its price target on IBM to $144.50 from $142.50, while at least two brokerages cut their price targets.
And, Macquarie raised its price target on Texas Instruments to $25 from $24.90, but at least two brokerages cut their ratings and price targets.
“Every quarter, the hurdle gets higher—more has to come from revenue growth,” Mark Eibel, director of client investment strategies at Russell Investments told CNBC.
“The reason why revenue is the focus is that investors are looking for a reason to believe that things are getting better," Eibel explained. "They’re not getting it from the macro as much, so they’re looking for any indication. So that’s why the bar is higher.”
Intel , which delivered an encouraging earnings report last week, slipped as the chip giant is nearing a settlement with the FTC over antitrust allegations, a case that has dogged the company for more than 10 years.