Stock market today: Rising tech stocks send Nasdaq to a record

NEW YORK — Rising technology stocks sent the Nasdaq composite to a record, but trading was mixed along the rest of Wall Street. The S&P 500 rose 0.2% Tuesday, even though the majority of stocks in the index fell. Gains for Microsoft, Meta Platforms and other influential Big Tech stocks helped lift indexes, including the 0.8% gain for the Nasdaq that led it to top its own record set in July. The Dow Jones Industrial Average fell 0.4%.

Alphabet rose 2.1% ahead of its profit report scheduled to arrive after trading ends for the day. The parent company of Google will be the latest member of the influential group of stocks known as the “Magnificent Seven” to report its quarterly results, and each will have to deliver big growth to justify their high prices.They helped offset an 8% drop for Ford Motor, which said an underlying measure of profit for the full year will likely come in at the bottom end of its forecasted range.

Mortgage rates have been climbing recently because the 10-year Treasury yield has been charging higher. That’s after the Fed kicked off its rate-cutting campaign in September with a larger-than-usual reduction. Many traders were thinking just a month ago the Fed would follow up with another bigger-than-usual cut in November.

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