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Stocks rise amid earnings deluge: Stock market news today

Josh Schafer and Karen Friar
Updated ·1 min read

Stocks gained ground on Tuesday amid a revival in the benchmark 10-year Treasury yield, as investors awaited an avalanche of earnings from tech giants and other major companies.

The Dow Jones Industrial Average (^DJI) popped more than 0.6%, the S&P 500 (^GSPC) rose above 0.7%, and the Nasdaq Composite (^IXIC) climbed nearly 1%.

The 10-year yield (^TNX) inched higher to 4.84%, shaking off a slide earlier in the morning in another sign of volatility. On Monday, the yield topped 5% to reach its highest level since 2007, then sank in whipsaw action.

Attention is firmly focused on the flood of big-name earnings reports. Ahead of the bell, General Motors (GM) pulled its 2023 profit guidance amid a jump in costs related to the UAW strikes. Spotify (SPOT) surprised by turning a profit amid expectations for a loss.

In cryptocurrencies, bitcoin (BTC-USD) continued to rally, rising above $35,000 to its highest level since the 2022 crypto crash, thanks to speculation the SEC is about to approve an ETF linked to the token.

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