Stocks dipped lower on Tuesday as market participants geared up for Big Tech earnings releases due out this week. The Dow Jones Industrial Average slipped over 50 points lower, with the S&P 500 Index and Nasdaq Composite lost 0.16% and 0.06%, respectively.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.16% or -8.67 points to 5,555.74

Dow Jones Industrial Average (DIA  ): -0.14% or -57.35 points to 40,358.09

Nasdaq Composite Index (QQQ  ): -0.06% or -10.22 points to 17,997.35

In Economic News:

Sales of Previously Owned U.S. Homes fell 5.4% in June month-over-month to a seasonally adjusted, annualized basis of 3.89 million units, according to the National Association of Realtors (NAR) report on Tuesday. On an annual basis, sales also declined by 5.4%, representing the slowest sales pace since December.

"We're seeing a slow shift from a seller's market to a buyer's market," said Lawrence Yun, chief economist at NAR, in a statement. "Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis."

On the Earnings Front:

General Motors (GM  ) reported strong second-quarter earnings on Tuesday, leading the automaker to raise some financial forecasts for the rest of the year as its quarterly revenue set a record for the company. Notably, GM now expects full-year adjusted EBITDA of between $13 billion and $15 billion, or $9.50 and $10.50 per share.

"It was truly a great first half and second quarter, and we're positioned to have a very strong year," CFO Paul Jacobson told analysts during an earnings call. "We expect to see some seasonally higher commodity costs, as well as some pricing headwinds that we've assumed in the second half of the year."

Spotify (SPOT  ) reported record second-quarter profit on Tuesday, as its premium subscriber base grew to 246 million during the quarter. The audio-streaming giant's ad-supported revenue also grew 13% during the quarter, and the company now hosts 626 million total monthly active users. For its third-quarter, Spotify expects total monthly active users of 639 million, total premium subscribers of 251 million, and total revenue to grow by 19% year-over-year.

United Parcel Service (UPS  ) reported disappointing second-quarter profit and revenue on Tuesday and slashed its full year revenue guidance. The package shipping giant now expects 2024 revenue of about $93 billion, from its previous forecast for as much as $94.5 billion. UPS also said it expects $4.0 billion in capital expenditures for its full year, down from previous guidance of $4.5 billion.

"Our revenue came in just short of the low end given the current volume momentum we are now experiencing in our business," CEO Carol Tomé said during the company's earnings call. "Accordingly, we are adjusting our full-year operating margin guidance to reflect the nature of the volume flowing through our U.S. network."

Coca-Cola (KO  ) posted second-quarter earnings that topped Wall Street expectations on Tuesday, with its North American organic revenue notably growing by 10% year-over-year. The beverage giant also raised its full year organic revenue growth to be between 9% and 10% from its prior forecast of 8% and 9%.

For Wednesday:

Market participants will react to earnings reports from Google parent Alphabet (GOOG  ) (GOOGL  ) and Tesla (TSLA  ) due out after closing bell on Tuesday. Reports from companies including AT&T (T  ) and Thermo Fisher (TMO  ) are also set to release Wednesday morning.