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Stocks rise amid earnings deluge, with Big Tech to come: Stock Market Today |October 24, 2023
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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), the S&P 500 (^GSPC), and the Nasdaq Composite (^IXIC) all rose about 0.5%.
The 10-year yield (^TNX) climbed to 4.86%, 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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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), the S&P 500 (^GSPC), and the Nasdaq Composite (^IXIC) all rose about 0.5%.
The 10-year yield (^TNX) climbed to 4.86%, 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.
For more on this article, please visit:
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