NEW YORK: Wall Street stocks advanced early Tuesday following a stream of mixed earnings reports ahead of looming results from tech giants and a Federal Reserve decision.
Shares of Merck and Procter & Gamble fell after reports, while PayPal pushed higher as the quarterly season moves towards its biggest players.
Earnings in the coming two days from Microsoft, Facebook parent Meta, Amazon and Apple account for nearly $9.6 trillion in market capitalization, more than one fifth of the S&P 500, according to Briefing.com.
Megacaps lift Nasdaq, S&P 500 ahead of Big Tech earnings, Fed verdict
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.4 percent at 40,693.07.
The broad-based S&P 500 advanced 0.4 percent to 5,486.08, while the tech-rich Nasdaq Composite Index climbed 0.5 percent to 17,448.95.
Besides the deluge of corporate earnings, this week’s calendar includes Wednesday’s Fed decision, as well as monthly US employment data on Friday.
Analysts have described the market’s posture as “wait-and-see” ahead of these events.
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