Gate – Quartz

After Strong MondayThe Dow Jones Industrial Average and other major U.S. stock indexes continued to gain on Tuesday on encouraging corporate earnings reports.

General Motors shares soared after the company posted a better-than-expected quarterly report while Tesla shares also rose he closely monitored profits are to be released after the bell.

The Dow rose 229 points, or about 0.6%, to 38,469 in afternoon trading. The S&P 500 gained about 1.1% and the Nasdaq rose 1.4%.

The yield on the 10-year note was 4.596%. Tensions between Iran and Israel appear to have eased, causing oil prices to fall. West Texas Intermediate is currently trading at $82,223 per barrel.

GM shares rise 5% after strong earnings report

General Motors shares rose more than 5%, making this afternoon’s performance one of the best performances of the S&P 500 index during the day. This came after the GMs announcement better than expected results for the first quarter. The automotive company also raised its full-year forecasts and saw a reduction in the costs of batteries for its electric vehicles.

Business announced that first-quarter earnings per share increased 18.5% to $2.62, while revenue increased almost 8% to $43.01 billion. Analysts had predicted earnings of $2.13 per share on total sales of $41.09 billion.

Spotify Shares Up 17%

Spotify shares up more than 17% after beating up the company estimates for the first quarter and provided strong guidance for the next quarter. The stock briefly hit a 52-week high.

Wall Street expected the company’s revenue of $3.87 billion, but it reported $3.95 billion. The audio giant has went through several rounds of layoffs and price increases last year to increase revenues and improve margins.

The Super Micro Computer is back

After days of loss, AI hardware maker Super Micro Computer rebounded on Tuesday. The company’s shares had one of the best performances of the day so far on the S&P 500, rising about 5.1% in the afternoon.

Then came the profit news about Chinese university takeovers Embedded Nvidia AI chips in Super Micro Computer, Dell and Gigabyte Technology servers.

PepsiCo is losing after weaker demand in the domestic market

Despite this, shares of food and beverage company PepsiCo fell 2.4%. reporting better than expected earnings and revenue estimates. This is because international markets have seen better volume and sales growth than in North America, while product recalls and weaker demand from lower-income consumers are hurting sales in the domestic market.

The company reported adjusted earnings per share of $1.61, topping the $1.52 expectation, and revenue of $18.25 billion, topping the $18.07 billion forecast.

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