Stocks finished mixed on Tuesday as market sentiment was weighed down by the latest earnings results. The Dow Jones Industrial Average fell nearly 400 points, while the S&P 500 Index dipped 0.2% and the Nasdaq Composite rose 0.15%.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.20% or -8.12 points to 3,990.97

Dow Jones Industrial Average (DIA  ): -1.14% or -391.76 points to 33,910.85

Nasdaq Composite Index (QQQ  ): +0.14% or +15.96 points to 11,095.11

Pulling the Dow lower, Goldman Sachs (GS  ) reported its worst earnings miss in a decade for the fourth quarter, posting a larger-than-expected 69% drop in quarterly profit as declines in investment banking and asset management revenues weighed on the bank. The stock finished down over 6%.

Rival Morgan Stanley (MS  ), meanwhile, reported a smaller-than-expected decline in quarterly profit last quarter, with its wealth management business posting a record quarter. However, like its peers, Morgan Stanley reported a decline in its investment banking operations. Shares jumped nearly 6%.

Tuesday's earnings results followed mixed quarterly reports from other major banks such as JPMorgan Chase (JPM  ) and Citigroup (C  ).

Elsewhere, Bank of America (BAC  ) forecasts that a recession probably won't happen until later in 2023 as consumer spending remains stronger-than-expected and the Federal Reserve eases its interest rates hikes.

"We push back the timing of our outlook for a mild recession in the U.S. economy by about one quarter given durability in consumer spending on account of strong labor markets, excess savings, declining energy prices, and easier financial conditions," the firm said in a client note, quoted by CNBC. "That said, we think the headwinds will lead consumers to reduce spending and push the saving rate higher as the year progresses."

The tech sector is set to kick-off its earnings season this week, with a report from Netflix (NFLX  ) slated for Thursday. The streaming giant's report is expected to forecast the health of the tech sector, with other major tech earnings from companies like Microsoft (MSFT  ) and Tesla (TSLA  ) set for next week.

This week will also have talks from global business leaders as they meet in Davos, Switzerland for the World Economic Forum. Politicians, CEOs and billionaires will speak on the possibility of a global recession, lingering post-pandemic supply chain issues, climate change, and Russia's war with Ukraine.

The session's moves follow a long weekend, with the U.S. stock market closed on Monday in observance of Martin Luther King Jr. Day. On Friday, all three major averages posted their second consecutive winning week.