HomeFinancial MarketsNasdaq Leads Stock Gains as Alphabet And Microsoft Earnings in Focus

Nasdaq Leads Stock Gains as Alphabet And Microsoft Earnings in Focus

Stocks climbed higher on Tuesday led by a rise in tech shares as investors braced themselves for the release of second-quarter earnings from Microsoft and Google parent company Alphabet.

The tech-heavy Nasdaq Composite Index advanced by 0.6%, while the Dow Jones was up by 0.3% to mark its 12th consecutive day of gains. The S&P 500 index rose by 0.3%.

Earnings reports from Microsoft and Alphabet are due to be released after the market’s close on Tuesday. These results are widely expected to provide an outlook of what Big Tech earnings should look like going forward.

In addition to tech earnings, the Federal Reserve’s upcoming policy decision is also occupying a space in investors’ minds. The central bank’s two-day July meeting begins on Tuesday. Most analysts expect an interest rate hike to be implemented.

Going against the grain, General Motors stocks fell by 4% at midday despite the company’s strong second-quarter earnings results. Spotify shares plunged by 14% after the music streaming platform reported a wider-than-expected loss for the second quarter despite a large influx in subscribers.

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