All three major US stock indexes were down in late-morning trading on Tuesday as traders digested new economic reports and a slew of big-name corporate earnings.

The US advance international trade in goods deficit narrowed to $85.99 billion in June from $96.42 billion in May, according to data released by the US Census Bureau, compared with the $98.0 billion deficit expected in a survey compiled by Bloomberg. Exports fell by 0.6% in June while imports declined by 4.2%.

US job openings fell to 7.437 million in June, according to the Bureau of Labor Statistics, lower than the 7.5 million openings expected in a survey compiled by Bloomberg and below the 7.712 million openings reported in May.

In equities, Novo Nordisk (NVO) shares slid 22% after the company posted Q2 earnings that missed analysts' expectations, cut its fiscal 2025 guidance, and appointed Maziar Mike Doustdar as president and chief executive officer, starting Aug. 7.

UnitedHealth Group (UNH) shares fell over 5% after the company reported Q2 adjusted earnings of $4.08 per diluted share, down from $6.80 a year earlier and also lower than analysts' expectations of $4.48. The company's 2025 guidance also trailed estimates.

AstraZeneca (AZN) shares advanced over 3% after the company said its Q2 core earnings rose 10% to $2.17 per share and revenue climbed to $14.46 billion from $12.94 billion a year earlier.

Merck (MRK) shares were down more than 4% after the company announced a multiyear optimization program and lower Q2 results.

The company said its optimization initiative, which expects to generate $3.0 billion in annual cost savings by the end of 2027, includes a restructuring program that will see Merck eliminate certain administrative, sales, and R&D positions., while continuing to hire staff into new roles across growth areas of the business.

Merck reported Q2 non-GAAP earnings of $2.13 per diluted share and sales of $15.81 billion, down from $2.28 and $16.11 billion respectively a year earlier. Analysts surveyed by FactSet expected earnings of $2.02 per share and sales of $15.9 billion.

Boeing's (BA) Q2 core loss narrowed to $1.24 per share from a loss of $2.90, and its revenue increased to $22.75 billion from $16.87 billion a year earlier. Boeing shares were down over 3% in recent Tuesday trading.

Procter & Gamble (PG) said its fiscal Q4 core earnings rose to $1.48 per diluted share from $1.40 and revenue climbed to $20.88 billion from $20.53 billion a year earlier. The company's shares were up 0.2%.

Price: 53.77, Change: -15.24, Percent Change: -22.08