By Liz Moyer
Investing.com — U.S. stocks are rising amid a deluge of earnings reports from big companies, with big tech on tap to report after today’s closing bell.
At 10:17 ET (1:17 GMT), it was up 137pts or 0.4%. Meanwhile, the was up 0.9%, and the was at 1.6%.
Investors will get more information about the health of the tech sector from Microsoft Corporation (NASDAQ) and Alphabet, (NASDAQ) later in the day. Rising interest rates have dampened investor enthusiasm for growth stocks. Analysts eagerly await Alphabet’s comments on digital advertising trends. Snap Inc (NYSE: ) Last week.
Already Tuesday Coca-Cola Co (NYSE 🙂 and General Motors Company NYSE 🙂 have outperformed expectations. Coke shares rose 0.6%, while GM shares rose 2.8%
3M Company (NYSE) shares fell 0.9% following a reduction in its outlook for full-year revenues and profit. The company cited the impact of a strong.
Stocks have been buoyed by the hope that the Federal Reserve will reduce its aggressive interest rate increases after its meeting next week when it is expected to increase by 0.75 percentage points. It would be the fourth such move in succession.
While companies are facing rising costs, which is changing consumer spending habits and other challenges, earnings season still manages to exceed expectations. Nearly three quarters of the S&P 500 companies to report so far have beaten forecasts, according to Stocksak.
Data on showed that October’s reading was 102.5, which was lower than the expectations of 106.5. September’s reading read 107.8.
Oil prices rose. Oil rose 1.4% to $85.86 per barrel, while crude oil rose 1.2% to $92.31 per barrel. was up 0.5% to $1662.