Major U.S. indices finished mixed on Tuesday (Wednesday AEDT), with the Nasdaq Composite hitting fresh record highs as investors proved optimistic ahead of quarterly earnings from major tech companies.
The Dow Jones Industrial Average underperformed, dropping 154.5 points or 0.4% to settle at 42,233.1, the Nasdaq gained 0.8%, closing at an all-time high of 18,712.8, while the S&P 500 also edged higher by 0.2%, ending at 5,832.9.
Alphabet, Snap, Reddit, Chipotle, and Advanced Micro Devices are expected to report their quarterly results after the market closes. Meta Platforms and Microsoft is set to report on Wednesday, followed by Apple on Thursday.
Ahead of earnings, shares of Meta climbed 2.6%, while Alphabet rose 1.8%.
This week marks the busiest stretch of the earnings season, with over 150 S&P 500 companies scheduled to report by Friday’s close.
On the bond markets, the 10-year yield reached its highest level since July. The benchmark 10-year and 2-year rates stood at 4.256% and 4.098%, respectively.