Wall Street Rises as Tech Stocks Rebound
US stock indices closed higher on Tuesday as technology stocks rebounded ahead of earnings from major industry players. The S&P 500 rose 0.6%, the Nasdaq gained 1.3%, and the Dow closed flat. The AI trade largely recovered, lifting chipmakers and most hyperscalers. Broadcom climbed 4% after a consortium of banks and Blackstone announced $63 billion in financing related to the use of its technology by Anthropic. Meta fell 1.6% despite its $25 billion stock sale being five times oversubscribed. Oracle advanced 3.6% as it expanded its partnership with OpenAI. Alphabet (+1.2%), Microsoft (-0.2%) and Amazon (+1.6%) are expected to report healthy growth when they release earnings this week. Elsewhere, Boeing tumbled 10.7% after posting a larger-than-expected Q3 loss. Corning fell 1.1% despite strong results. Whirlpool rose 3.7% despite reporting a quarterly loss. PayPal added 2% despite a revenue miss. Meanwhile, the Federal Reserve is widely expected to hold interest rates steady this week.
US stock indices closed higher on Tuesday as technology stocks rebounded ahead of earnings from major industry players. The S&P 500 rose 0.6%, the Nasdaq gained 1.3%, and the Dow closed flat. The AI trade largely recovered, lifting chipmakers and most hyperscalers. Broadcom climbed 4% after a consortium of banks and Blackstone announced $63 billion in financing related to the use of its technology by Anthropic.
Meta fell 1.6% despite its $25 billion stock sale being five times oversubscribed. Oracle advanced 3.6% as it expanded its partnership with OpenAI. Alphabet (+1.2%), Microsoft (-0.2%) and Amazon (+1.6%) are expected to report healthy growth when they release earnings this week. Elsewhere, Boeing tumbled 10.7% after posting a larger-than-expected Q3 loss.
Corning fell 1.1% despite strong results. Whirlpool rose 3.7% despite reporting a quarterly loss. PayPal added 2% despite a revenue miss. Meanwhile, the Federal Reserve is widely expected to hold interest rates steady this week.