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- Stocks ticked higher on Wednesday as traders hoped to keep the Dow's winning streak alive.
- The index notched its seventh straight win on Tuesday, its longest streak since 2021.
- Traders are waiting for Big Tech earnings to roll out, with Tesla and Netflix set to report after the close.
US stocks ticked higher on Wednesday as traders awaited high-profile earnings results from Tesla and Netflix and hoped to keep the market's latest winning streak alive.
The Dow Jones Industrial Average closed higher for its seventh straight win on Tuesday, its longest streak of gains since 2021.
Markets are still digesting the latest round of bank earnings, with Goldman Sachs shares slipping after the investment bank missed expectations for the second quarter. Profits declined 58% from the last quarter, while revenue slipped 8%, the bank reported Wednesday morning.
Goldman's results were an outlier among big bank earnings reports that have mostly surprised to the upside so far. Both Bank of America and Morgan Stanley reported results that beat estimates on Tuesday.
Investors are awaiting earnings reports from Tesla, Netflix, and IBM after the closing bell on Wednesday.
Here's where US indexes stood at the 9:30 p.m. ET opening bell on Wednesday:
- S&P 500: 4,571.92, up 0.37%
- Dow Jones Industrial Average: 35,121.24, up 0.48% (169.31 points)
- Nasdaq Composite: 14,393.03, up 0.24%
Here's what else has happened today:
- Elon Musk chimed in on Twitters after Microsoft and Nvidia's rally.
- Russia is planning a digital version of the ruble after a 19% slide against the dollar this year.
- Microsoft's market value soared as much as $154 billion on Tuesday. That's the equivalent of Jeff Bezos's entire fortune.
- Goldman Sachs is warning of a historic slowdown in home price growth.
In commodities, bonds and crypto:
- West Texas Intermediate crude edged up 0.7% to $76.29 per barrel. Brent crude, oil's international benchmark, climbed 0.8% to $80.33 a barrel.
- Gold was down slightly to $1,979.40 per ounce.
- The yield on the 10-year Treasury slipped two basis points to 3.76%.
- Bitcoin inched higher 0.26% to $29,887.