U.S. stocks kicked off the week on a positive note, with all major averages edging higher in anticipation of significant events including earnings reports from tech giants like Amazon.com Inc. (NASDAQ:AMZN) on Tuesday and Apple Inc.
U.S. stocks are looking to build on past week’s gains, with the mood remaining cautiously optimistic. The major index futures were modestly higher in early trading.
With the earnings season now halfway through, the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling more than 100 points on Tuesday.
The Dow traded up 0.23% to 38,421.03 while the NASDAQ fell 0.88% to 15,490.48. The S&P 500 also fell, dropping, 0.12% to 4,921.94.
Shares of United Parcel Service, Inc. (NYSE: UPS) fell sharply during Tuesday’s session after the company reported worse-than-expected fourth-quarter sales results and issued FY24 sales