Watch as Brian Sozzi, Julie Hyman, and Brian Cheung discuss how the market is reacting to the latest earnings from 3M, General Electric, and UPS.
The benchmark S&P 500 hit a record high on Tuesday, boosted by Telsa, Nvidia and other tech-related companies, while upbeat results from UPS and GE lifted optimism around the earnings season. Chipmaker Nvidia rose 7.8% to an all-time high, while gains in Amazon, Apple and Microsoft helped the tech-heavy Nasdaq outperform. Some stellar earnings reports have helped drive the Dow and the S&P 500 to record highs, lifting investor sentiment in October after concerns around inflation, the Fed's tapering and property group China Evergrande's crisis rattled markets last month.
The S&P 500 and the Dow were set for record open on Tuesday as Facebook rose after its quarterly results and a share buyback plan, turning the spotlight on its technology peers set to report later in the day. Facebook Inc rose 0.8% in premarket trading even as the social media giant warned that Apple Inc's new privacy changes would weigh on its digital business in the current quarter.