Nasdaq hits record high as Alphabet earnings beat estimates

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NEW YORK: The Nasdaq scored a record closing high and the S&P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnin...

: The Nasdaq scored a record closing high and the S&P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnings and awaited Google-parent Alphabet’s results that came after the market close.

The group’s results will be crucial to determining whether Wall Street can sustain the optimism around technology and artificial intelligence that has lifted indexes to record highs this year. The S&P 500 climbed 9.45 points, or 0.16%, to 5,832.97. The Dow Jones Industrial Average fell 154.52 points, or 0.36%, to 42,233.05.

Ford slumped 8.4% a day after the automaker said it expected to hit the lower end of its annual profit forecast.Meanwhile, the Labor Department’s JOLTS survey showed job openings were at 7.44 million in September, compared with estimates of 8 million, a Reuters poll of economists showed.Among sectors, communication services, which includes Alphabet and Meta, was the top gainer, while utilities dropped 2.1%.

 

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