Stocks wavered in early trading on Tuesday as investors reviewed the fresh batch of results. 

The S&P 500 index edged up 0.3%, and the Nasdaq Composite gained 0.4%, as benchmark indexes attempted to extend the previous week's rally. 

Investor confidence remains high despite the weak labor market report last week, amid solid earnings from leading technology companies. 

Apple, Alphabet, Microsoft, Meta, Visa, and MasterCard reported better-than-expected quarterly results, but Amazon's outlook lagged expectations.

Pfizer and Palantir Technologies advanced after their quarterly results, but Caterpillar and Eaton Corporation declined following weak outlook. 

Trump's import tax weighed on investor sentiment, as the U.S. president threatened to raise the tax to 250% on pharmaceutical products in an interview with CNBC on Tuesday. 

The Trump administration has lost most of its credibility after the chaotic introduction of trade policy and constant flip-flops and misleading or outright false claims of "trade deals." 

U.S. Stock Movers 

Hims & Hers dropped 11.6% to $55.90 after the telehealth company reported weak quarterly results and issued a weaker-than-expected outlook.

The company guided third-quarter adjusted earnings to range between $60 million and $70 million, lower than the estimate of as much as $76 million according to some analysts. 

Caterpillar Inc. inched up 0.3% to $434.80, and the farm and construction equipment company reported weaker-than-expected second-quarter earnings per share of $4.72. 

Eaton Corporation PLC decreased 5% to $365.0 after the power management company's third-quarter outlook fell short of market expectations. 

The company's guided adjusted third-quarter earnings per share ranged between $3.01 and $3.07. 

The power management company earned $2.95 per share on $7.03 billion in revenue.

Palantir Technologies Inc. jumped 7% to $172.0 after the surveillance technology company reported strong quarterly results.

The defense and intelligence contractor for the U.S. government reported adjusted earnings of 16 cents per share on revenue of $1.0 billion. 

Pfizer Inc. jumped 2.4% to $24.08 after the pharmaceutical company reported better-than-expected results in the second quarter.