Tech Titans Propel Wall Street to New Heights Amid Earnings Surge

Wall Street's main indexes reached record highs, fueled by tech giants like Microsoft and Apple, amid U.S. corporate earnings. Notable shifts include Microsoft securing a stake in OpenAI and Apple's market value surpassing $4 trillion. Investors are keenly watching upcoming earnings for AI developments to support high valuations.

In a week bustling with earnings announcements from U.S. corporate heavyweights, Wall Street's major indexes inched closer to record levels on Tuesday, driven by substantial gains in tech stocks like Microsoft and Apple. Microsoft's shares rose notably by 2.2% following its strategic move to acquire a 27% stake in OpenAI, converting it into a public benefit corporation.

Meanwhile, Apple crossed the remarkable $4 trillion market value threshold for the first time, despite easing to flat trading conditions later in the day. Investors are eagerly anticipating results from tech behemoths like Alphabet, Amazon, and Meta, with a keen eye on AI-related advances to substantiate the stocks' high valuations and investments.

Market movements reflect the persistent positivity shaping Wall Street. The Dow Jones, S&P 500, and Nasdaq Composite saw mixed changes mid-morning, indicative of broader investor sentiment navigating delayed U.S. economic data. Anticipation surrounds Federal Reserve meetings about potential interest rate cuts by year's end.

(With inputs from agencies.)