U.S. Equities Dip Amid Earnings Disappointments and Fed Rate Decision Anticipation

U.S. equities trended lower at midday as corporate earnings reports fell short of expectations and investors braced for the Federal Reserve's impending interest rate decision. The Dow Jones Industrial Average, S&P 500, and Nasdaq all retreated, reflecting broader market caution.

Carrier Global (CARR) shares declined sharply on concerns about weakening demand for residential HVAC systems. Whirlpool (WHR) also stumbled after missing profit and sales estimates, slashing guidance, and proposing a dividend cut amid deteriorating consumer sentiment.

Royal Caribbean Group (RCL) faced headwinds as higher costs for its newest ship weighed on current-quarter guidance. In contrast, Corning (GLW) emerged as the S&P 500's top performer, buoyed by strong demand for its fiber optic glass in AI applications. Cadence Design Systems (CDNS) similarly benefited from AI chip demand, reporting elevated revenue and raising its outlook.