HomeFinancial MarketsStocks Rise After Influx of Big Tech Earnings

Stocks Rise After Influx of Big Tech Earnings

Stocks on the New York Stock Exchange rose on Tuesday following a flurry of Big Tech earnings. The Dow Jones Industrial Average, S&P 500, and tech-heavy Nasdaq Composite all rose by approximately 0.3%. This comes as the benchmark 10-year Treasury yield inched higher to 4.84%, rebounding from a narrow retreat earlier in the session.

Prior to the opening bell, General Motors withdrew its 2023 profit guidance amid a new United Auto Workers walkout at its Arlington, Texas factory, causing costs to surge upward. In contrast, Spotify beat analysts’ expectations by turning a profit during the third quarter.

The music streaming platform reported a net income of 65 million euros or 0.33 euros per share. This is significantly higher than the loss of 0.20 euros per share predicted by Wall Street analysts.

GameStop Shares Surge More Than 35% Ahead of the Earnings Report

Shares of video game and electronics retailer GameStop are on the rise again. The company’s stock has been surging in recent days, gaining more...

Microsoft to Invest $3.2 Billion in UK in AI Push

Microsoft is planning to inject $3.2 billion over the next three years into the United Kingdom in an effort to foster artificial intelligence technology...

European and U.S. Stocks Rise Ahead of U.S. Inflation Data

European and U.S. stocks rose higher during Thursday's morning session as investors awaited U.S. inflation data due to be released later in the day....