World stocks are lower as the earnings reporting season ramps up for big companies. U.S. futures were sharply lower, while oil prices advanced. Japan's benchmark lost more than 1% as the yen gained against the U.S. dollar. That's a potential risk for big exporters' earnings. On Tuesday, the S&P 500 fell 0.2% and the Dow slipped 0.1%. The Nasdaq composite edged 0.1% lower. Nvidia was the heaviest weight on the S&P 500, and UPS tumbled after delivering weaker profit for the spring than analysts expected. But smaller stocks in the Russell 2000 index continued their big run, gaining 1%. They’ve flipped the market’s leaderboard recently and zoomed higher amid hopes for cuts to interest rates.
