S&P 500 Nears New Record; Nasdaq Edges Higher Ahead Of Big Tech Earnings

Wall Street opened on a mixed note on Tuesday amid anticipation around Big Tech earnings. The S&P 500 and Nasdaq Composite opened in the green, whereas the Dow Jones Industrial Average opened in the red. 

The wider index, S&P 500, rose 0.22% or 15.33 points to trade at 6,965.56, whereas the tech-heavy Nasdaq opened 0.51% or 119.74 points higher at 23,721.10. On the other hand, Dow Jones edged 0.8% or nearly 400 points lower at 49,105.65.  

As of 10:10 a.m. Dow Jones slumped 1% to 48,938.76, S&P 500 traded 0.34% higher at 6,974.66 and Nasdaq rose 0.8% to 23,787.65. 

Tech titans such as Apple Inc. and Microsoft Corp. gained nearly 2% in the early minutes of trade. Later they advanced as much as 2.34% to $261.25 and 1.60% to $477.51, respectively. 

Rest of the magnificent seven stocks traded mixed with Meta Platforms Inc. and Tesla Inc. declining, and Nvidia Corp., Google-parent Alphabet Inc., and Amazon.com Inc. ticking higher. 

After the markets opened, seven out of the 11 sectoral indices traded in the green, while only four traded lower. Energy sector and Information Technology sector led the gains while the Healthcare sector led the decline. 

The Bloomberg Dollar Spot Index plunged deeper by 0.4%, while other currencies rose. The euro rose 0.4% to $1.1933, British pound rose 0.5% to $1.3745, and Japanese yen rose 0.7% to 153.13 per dollar. Bitcoin, the largest traded cryptocurrency, rose 0.2% to $88,111.81. 

Among the commodities, Spot Gold prices rose over 1% to $5,069.70 an ounce, along with crude oil prices. The West Texas Intermediate rose nearly 1% to $61.24 a barrel, while Brent Crude traded 0.84% higher at $65.36 a barrel. 

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