On Tuesday, the Nasdaq Composite rose 0.9% to reach a new record high, surpassing the 18,700 level, supported by gains in major tech stocks ahead of key earnings releases. Alphabet, Snap, Reddit, Chipotle, and Advanced Micro Devices were set to report quarterly results after the close, with Meta Platforms and Microsoft scheduled for Wednesday and Apple on Thursday. This wave of tech earnings is expected to reveal if long-term growth trends hold steady, though concerns over potential antitrust costs may cloud Alphabet’s outlook. The S&P 500 advanced by 0.3%, while the Dow Jones Industrial Average underperformed with a 0.2% drop, trailing other indices.

This week marks the peak of the earnings season, with over 150 companies from the S&P 500 slated to report by Friday. Investors are looking to earnings growth to support elevated market valuations, with tech stocks leading in expectations. Meanwhile, the 10-year Treasury yield climbed to its highest since July, signaling that the fixed-income market remains cautious about economic volatility as the Federal Reserve’s upcoming decision approaches.

In broader economic data, U.S. job openings declined to their lowest level since early 2021, slightly offsetting September’s robust employment figures and leading traders to lower expectations for additional rate cuts. Consumer confidence also rose, marking its highest point since the beginning of the year. Bitcoin saw a notable rise as well, surpassing $72,000 for the first time since April.