The New York Stock Exchange posted another session of gains on Tuesday, amid optimism about earnings ahead of the tech giants' first earnings releases.

In late morning trading, the Dow Jones gained over 0.5% to 38,444.7 points, while the Nasdaq Composite recovered 1.3% to 15,648.7 points.

A number of better-than-expected publications have generated optimism that the earnings season will calm things down a little after the recent upheavals that have shaken the markets, and perhaps enable stocks to move forward again.

GE Aerospace, for example, climbed 6% after reporting better-than-expected first-quarter results and raising its full-year targets.

GM gained more than 4% after reporting a solid performance and an optimistic outlook, confirming the carmaker's turnaround.

The technology segment (+1.5%) is also in demand as bond yields ease, with the 10-year falling back below 4.60%.

Meta Platforms gains over 2.5% on the eve of its results, and Microsoft is also in demand two days before its publication.

Tesla, which is due to publish its quarterly accounts after the close of trading, rebounds by over 2% after seven consecutive sessions of declines.

The announcement of a decline in the PMI index, indicating a slowdown in growth likely to justify future rate cuts by the Fed, also supports the trend.

S&P Global's composite PMI index - which measures private sector activity - came in at 50.9 on a flash basis in April, compared with 52.1 on a final basis for the previous month.

On the housing market, new home sales rebounded by 8.8% in March despite persistently high interest rates, with the median selling price even rising again.

Copyright (c) 2024 All rights reserved.