GM Stock Speeds Higher; Newmont Sinks as Gold Retreats

Key Takeaways

• A strong earnings report helped boost a U.S. major carmaker on Tuesday, Oct. 21, 2025, while receding gold prices dragged down shares of a mining giant.
• General Motors shares surged after the vehicle manufacturer beat quarterly estimates and said tariff costs should be lower than previously forecasted.
• Shares of Newmont, the world’s largest gold producer, moved lower as prices of the precious metal fell from their all-time highs.

Shares of a big U.S. automaker zipped higher Tuesday following better-than-expected earnings, while a top miner’s stock fell with a slip in gold prices.

Major U.S. equities indexes finished the day mixed as investors evaluated the latest stream of corporate earnings reports. The S&P 500 ended the day little changed, while the Dow rose 0.5% and the Nasdaq retreated 0.2%. For more daily markets coverage from Investopedia, see here.

General Motors (GM) shares motored 15% higher, notching the top performance in the S&P 500, after the carmaker reported better-than-expected sales and adjusted profit for the third quarter. The automotive giant reduced its forecast on the cost of tariffs, and Citi analysts suggested that GM has adjusted to tariffs more quickly than anticipated. The manufacturer said it will take a $1.6 billion loss tied to a reevaluation of its electric vehicle strategy following regulatory changes.

Halliburton (HAL) also surpassed third-quarter revenue and adjusted earnings per share estimates, and shares of the oilfield services firm surged about 12% higher. The company announced a strategic agreement with energy technology firm VoltaGrid to collaborate on providing power solutions for data centers around the world, with an initial rollout planned in the Middle East.

Warner Bros. Discovery (WBD) shares jumped 11% after the entertainment conglomerate suggested that it was open to a sale. The company said it is initiating a strategic review amid interest from several suitors. In June, Warner Bros. Discovery announced a plan to split into two separate companies, and more recent reports indicated that the newly consolidated media giant Paramount Skydance (PSKY) was preparing a takeover bid.

Gold prices fell sharply off record highs, with futures price plunging more than 5% Tuesday. The possibility of easing geopolitical tensions, with leaders of the U.S. and China set to meet in coming weeks, contributed to the pressure on the precious metal, which is typically viewed as a safe haven in times of economic upheaval. Shares of Newmont (NEM), the world’s largest gold producer, plummeted more than 9%, the furthest of any S&P 500 stock.

Although tobacco giant Philip Morris International (PM) beat forecasts with its third-quarter revenue and adjusted EPS, its shares tumbled 3.8%. While smokeless tobacco products are helping to generate growth, the company pointed to high levels of investment during the quarter, including significant marketing and promotional activity related to its Zyn nicotine pouches, after scaling down its commercial approach during supply shortages earlier in the year.

Shares of clinical laboratory services provider Quest Diagnostics (DGX) sank 3.1% in the wake of the company’s quarterly earnings report. Although revenue and and adjusted EPS came in ahead of forecasts, boosted by acquisitions and growth in the consumer channel, the company trimmed its full-year guidance for reported EPS.