- US stocks were mixed on Wednesday following earnings results from mega-cap tech.
- Microsoft and Alphabet reported third-quarter earnings that beat analyst expectations.
- Robinhood missed sales estimates and saw a considerable slowdown in trading activity.
US stocks were mixed on Wednesday, with the
Tech stocks were driven mostly higher by better-than-expected earnings results from Alphabet and Microsoft, which both jumped more than 5% and hit record highs. Both companies saw strong growth in their cloud units, and forward guidance remained on track for continued business growth.
Apple will look to keep the streak going when it reports earnings Thursday after the close. The iPhone maker $4 as the most valuable company in the world.
Here's where US indexes stood at the 4:00 p.m. ET close on Wednesday:
- S&P 500>$4: 4,551.69, down 0.5%
- Dow Jones Industrial Average>$4: 35,490.69, down 0.74% (266.19 points)
- Nasdaq Composite>$4: 15,235.84, up 0.01%
One earnings report that disappointed investors was $4 and saw a considerable slowdown in trading activity relative to prior quarters when meme-stocks and cryptocurrencies were extremely volatile. The stock fell 11% on Wednesday.
A likely accidental trade in class A shares of Berkshire Hathaway sent the $4 on Tuesday. The gains were short lived, as only three shares traded at those levels.
Shiba inu coin continued its record run on Wednesday, $4 and continuing its trek to become the 10th most valuable cryptocurrency in the world.
Concerns about rising inflation continue be top of mind for many investors, including Tesla CEO Elon Musk, who noted in a tweet that $4
Wall Street was impressed with Microsoft's earnings results, and $4 on why the cloud provider could continue to surge higher.
$4 oil fell 2.89%, to $82.20 per barrel. $4, oil's international benchmark, dropped 2.50%, to $84.24 per barrel.
$4 jumped as much as 0.22%, to $1,797.70 per ounce.