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 Tesla, Nvidia and other tech-related companies, while upbeat results from UPS and GE lifted optimism around the earnings season. Tesla Inc rose 5.4%, extending a record run that helped the electric car leader surpass $1 trillion in market value on Monday after landing its biggest-ever order from rental car company Hertz. Chipmaker Nvidia rose 7.8% to an all-time high, while gains in Amazon, Apple and Microsoft helped the tech-heavy Nasdaq outperform.
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.