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WALL STREET CHOPPY WITH MIXED BAG OF NEWS

The main U.S. indexes are swinging around the flat line as investors digest the latest economic data and a mixed bag of earnings reports.

The Commerce Department's Census Bureau said the U.S. trade deficit in goods widened sharply in March with businesses likely rushing to bring in goods to avoid President Donald Trump's sweeping tariffs. The trade gap rose 9.6% to $162.0 billion.

And the World Bank on Tuesday forecast that weakening global growth due in part to trade turmoil will push global commodity prices down 12% in 2025 and another 5% in 2026 to the lowest levels of the 2020s in real terms.

Meanwhile, HSBC slashed its year-end target for the S&P 500 on Tuesday to 5,600 from 6,700 weighed down by slower U.S. economic growth and tariff-related pressure on earnings.

But offering some hope for trade relations with the biggest U.S. trading partner, China has waived a 125% tariff on U.S. ethane imports imposed earlier this month, two sources with knowledge of the matter told Reuters on Tuesday.

Also on the bullish front, shares in Honeywell International HON.O, up more than 5%, and Sherwin-Williams SHW.N, up more than 4%, led gains in the Dow.

Honeywell's first-quarter revenue and profit beat the Street as a shortage of new jets fueled demand for its aerospace parts and aircraft maintenance services.

Sherwin-Williams on Tuesday beat the consensus estimate for first-quarter profit, helped by higher prices for industrial paints. And with sales of U.S. single-family homes increasing more than expected in March, this boosted demand for products such as paints and adhesives.

But General Motors GM.N shares are off about 1.7% even as the carmaker reported strong results, though it pulled its annual forecast, on uncertainty around Trump's global trade war.

Eight of the S&P 500's 11 major industry indexes are now lower with energy .SPNY the biggest loser, while tech .SPLRCT is the leading gainer.

Here is your early snapshot from 1015 a.m ET/ 1415 GMT:

(Sinéad Carew)

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