Nasdaq Hits Record High Amid Tech Earnings Surge

The Nasdaq Composite Index achieved a record close at 18,712.75, driven by strong earnings reports from major tech firms, notably Alphabet, whose stock rose significantly post-earnings. The Nasdaq gained 0.8%, while the Dow Jones fell 0.4% due to declines in companies like Ford and D.R. Horton, and the S&P 500 saw a marginal increase of 0.2%. A busy week for earnings reports continues, with tech giants like Microsoft and Meta Platforms expected to release results that could further influence market trends. Economic indicators such as robust consumer confidence and stable Treasury yields have not negatively impacted the stock market. The anticipation of continued earnings growth is viewed as crucial for sustaining the high market valuations in the tech sector.