Stock Market Today: All Eyes on Tesla After Spotify, UPS Beat Earnings

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Tesla was due to report results after the bell Tuesday. Stocks have been trading higher early this week on the back of strong corporate earnings.

U.S. stocks continued their rally on Tuesday, with all the major indexes closing higher on a series of strong earnings reports.The Dow Jones Industrial Average closed up 250 points or about 0.7 percent, the S&P 500 gained more than 1 percent, and the Nasdaq popped 1.6 percent.

After days of selling, shares of the world's most valuable automaker rose 2 percent ahead of its report, which is expected to show the company's first-ever decline in revenue. Many analysts are hoping for more clarity from CEO Elon Musk over his plans to pivot the company toward so-called 'robotaxis' over more affordable entry-level EVs.

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