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The S&P 500 closed just lower Tuesday, despite cutting the bulk of losses as traders weighed rising Treasury yields and a mixed slate of quarterly corporate earnings.

At 4:00 p.m. ET (2000 GMT), the Dow Jones Industrial Average fell 7 points, or 0.02%, the S&P 500 index fell 0.04%, while the NASDAQ Composite gained 0.2%.

General Motors shines on earnings stage, Verizon falters as earnings season heats up

General Motors (NYSE:GM) stock rose 10% after the auto giant reported third-quarter earnings that exceeded analyst estimates, helped by robust revenue growth and improved profitability.

Verizon (NYSE:VZ) stock fell 5% after the telecom giant reported mixed third-quarter results, with earnings slightly beating expectations but revenue falling short. It maintained its full-year guidance as it continues to see growth in wireless and broadband subscribers.

GE Aerospace (NYSE:GE) was also a drag on the market after falling more than 9% following Q3 revenue that missed analyst expectations.

3M (NYSE:MMM) stock fell 2% despite the industrial conglomerate reporting better-than-expected third-quarter earnings and revenue.

RTX (NYSE:RTX) stock closed less than 1% even as the aerospace and defense company reported third-quarter earnings that surpassed analyst estimates and raised its full-year guidance, driven by strong demand in commercial aftermarket and defense sectors.

Electric vehicle maker Tesla (NASDAQ:TSLA) will report on Wednesday and is the biggest company reporting this week, while other Wall Street majors including AT&T (NYSE:T), International Business Machines (NYSE:IBM), Bank of America (NYSE:BAC), and Coca-Cola (NYSE:KO) are also due on Wednesday.

About one-fifth of the S&P 500 index is slated to report results this week. So far, about 14% of companies in the broad index have reported results, with more than 7 out of 10 topping earnings estimates, according to FactSet.

Treasury yields continue to march higher; IMF lifts US growth forecast

There wasn't much top-tier data on the economic front, but Treasury yields continued their climb higher from a day earlier as the International Monetary Fund lifted its U.S. growth forecast.

The IMF now expects U.S. growth of 2.8% for this year, up 0.2% from a prior forecast on expectations of rising wages and asset prices underpinning stronger-than-expected consumption.

The yield on the 10-year Treasury rose 2 basis points to 4.210%.

(Peter Nurse, Ambar Warrick contributed to this article.)