“NASDAQ Hits Record High as Alphabet Leads Big Tech Earnings Season” – Yahoo Finance

The Nasdaq closed at a record high on Tuesday as Alphabet, the parent company of Google, kicked off Big Tech earnings with better-than-expected results. The tech-heavy index gained 1.8%, surpassing its previous record set in April.

Alphabet reported a 34% increase in revenue for the second quarter, beating analysts’ expectations. The strong performance of the company’s advertising business, particularly on Google Search and YouTube, drove the impressive results.

Investors were also buoyed by solid earnings reports from other tech giants, including Microsoft and Apple, which are set to release their quarterly results later this week. The positive earnings reports have helped to fuel optimism about the strength of the technology sector and its ability to weather the ongoing challenges posed by the pandemic.

The broader market also saw gains on Tuesday, with the S&P 500 and the Dow Jones Industrial Average both closing higher. The S&P 500 rose 0.8%, while the Dow gained 0.8%.

Investors will be closely watching the Federal Reserve’s policy meeting this week for further clues on the central bank’s plans for interest rates and its assessment of the economy’s recovery. The Fed is expected to provide an update on its monetary policy stance on Wednesday, which could have implications for the stock market in the coming days.

Overall, the strong performance of Big Tech companies and the broader market on Tuesday underscored the resilience of the stock market in the face of economic uncertainty. Investors will be looking ahead to more earnings reports and key economic data in the coming weeks to gauge the health of the economy and the stock market’s prospects.