Stocks closed little changed Tuesday as investors digested the latest U.S. retail sales report for September and another batch of third-quarter corporate earnings. The Dow Jones Industrial Average added over 10 points, while the S&P 500 Index closed at a negative flatline and the Nasdaq Composite lose 0.25%.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.01% or -0.43 points to 4,373.20

Dow Jones Industrial Average (DIA  ): +0.04% or +13.11 points to 33,997.65

Nasdaq Composite Index (QQQ  ): -0.25% or -34.24 points to 13,533.75

In the spotlight, U.S. retail sales rose 0.7% in September, the Commerce Department reported Tuesday, topping expectations for 0.3% growth. Excluding auto sales, retail sales increase by 0.6%, also above estimates.

Following the report, Goldman Sachs boosted its third-quarter GDP outlook by 0.3 percentage point to 4%, as the report demonstrated the U.S. consumer remains strong despite higher interest rates.

On the earnings front, Johnson & Johnson (JNJ  ) topped third-quarter earnings and revenue estimates and raised its full-year guidance as sales in it's pharmaceutical and medical devices businesses rose. The drugmaker now expects 2023 sales in the range of $83.6 billion to $84 billion, and adjusted earnings per share of $10.07 to $10.13.

Goldman Sachs (GS  ) posted better-than-expected third-quarter earnings on Tuesday, boosted by strong trading revenue. However, its profit dropped 33% to $2.058 billion from a year prior. Lockheed Martin (LMT  ) shares were under pressure Tuesday despite the company's positive quarterly report as it maintain its full-year expectations.

Bank of America (BAC  ) reported earnings and revenue that beat Wall Street expectations, driven by strong interest income throughout the quarter. The bank's profit rose 10% to $7.8 billion in the third-quarter from $7.1 billion a year ago, with interest income rising 4% to $14.4 billion, benefiting from higher interest rates and loan growth.

CEO Brian Moynihan said in a statement that Bank of America "added clients and accounts across all lines of business," within a "healthy but slowing economy that saw U.S. consumer spending still ahead of last year but continuing to slow."

UBS Global Wealth Management CIO Mark Haefele said in a note Tuesday that the S&P 500's earnings are predicted to have a turnaround after three straight quarters of losses.

"We believe the profits recession is over and the US economy is on track for a soft-ish landing following healthy consumer activity, cooling inflation, and solid growth," Haefele said. "The resilient US macroeconomic backdrop continues to surprise on the upside. As the third quarter progressed, consumer balance sheets were shown to be in better shape than previously thought, labor market strength continued, and inflation fell further."

Elsewhere, chipmakers shares slumped Tuesday after the U.S. Department of Commerce said it plans to tighten its restrictions on the sale of artificial intelligence chips to China. This announcement impacts companies including Nvidia (NVDA  ), Advanced Micro Devices (AMD  ), Intel (INTC  ), Broadcom (AVGO  ).

For Wednesday, traders will react to earnings reports from companies including United Airlines (UAL  ), Morgan Stanley (MS  ), Procter & Gamble (PG  ), and ASML (ASML  ). The next session will also see the release of September's housing starts and building permits readings for September, as well as the Federal Reserve's Beige Book.