U.S. stocks opened lower Tuesday as investors weigh First Republic Bank’s quarterly results and wait for Big Tech earnings to be released after the market’s close. The Dow Jones Industrial Average DJIA was down 0.1% soon after the opening bell, while the S&P 500 SPX fell 0.4% and the technology-heavy Nasdaq Composite COMP shed 0.5%, according to FactSet data, at last check. Shares of First Republic FRC slumped after the bank released its quarterly earnings after the market closed on Monday, with its results showing a steep drop in deposits. Google parent Alphabet Inc. GOOGL and Microsoft Corp. MSFT will on Tuesday report their quarterly earnings after the closing bell.
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