Stocks Surge Ahead Of Microsoft, Alphabet Earnings, Bitcoin Eyes Sixth Day Of Gains: What's Driving Markets Tuesday?

Stocks enjoyed a positive midday trading session in New York, with all major indices in the green. Additionally, nine out of 11 S&P 500 sectors posted gains.

Traders are eagerly anticipating earnings reports from tech giants Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Microsoft Corp. (NASDAQ:MSFT), scheduled for release after the market closes. Simultaneously, they are keeping a watchful eye on developments in the Israel-Hamas war.

China’s pursuit of an expanded policy stimulus has also buoyed market sentiment. Furthermore, better-than-expected U.S. PMI data for October indicates expansion in both the services and manufacturing sectors.

Bitcoin (CRYPTO: BTC) has surged for the sixth consecutive session, briefly surpassing $35,000 before retracing to $33,900 at the time of this writing.

Cues From Tuesday's Trading:

The S&P 500 was 0.2% higher Tuesday, on track to snap four sessions of losses. The Dow Jones also was 0.3% higher, while the tech-heavy Nasdaq 100 mirrored the broader market’s gains.

Small caps, as tracked by the Russell 2000 index, rose 0.4%.

US Index Performance On Tuesday

Performance (+/-)
Nasdaq 100 +0.23% 14,638.87
S&P 500 Index +0.23% 4,225.90
Dow Industrials +0.32% 33,042.23
Russell 2000 +0.40% 1,672.38

Analyst Color:

As four of the ...

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