U.S. stocks climbed to record levels on Tuesday as major corporations continued to turn in solid quarterly results, but major averages closed off their highs of the day with some major tech names rolling over. 

 

The Dow Jones Industrial Average gained 15.73 points to close at another record high of 35,756.88. At one point, the 30-stock Dow climbed about 150 points to hit an all-time high. The S&P 500 rose nearly 0.2%, hitting a fresh record as well at 4,574.79. The Nasdaq Composite rose less than 0.1% to 15,235.71. 

 

An intraday reversal in shares of Facebook weighed on major averages at midday. After trading flat to higher to start the session, Facebook shares dropped more than 5% at the session low and closed 3.9% lower. The company topped analysts’ earnings expectations but missed estimates for revenue and monthly active users. 

 

Dow component 3M dipped 0.1% despite beating expectations on the top and bottom lines. 

 

General Electric rose 2% after the company issued an upward revision to its full-year earnings forecast while reporting higher than expected third-quarter profit. 

 

Alphabet reported profit and earnings for the third quarter that topped analysts’ estimates. The company’s shares were down about 2% after the report. 

 

Microsoft shares edged 1% higher in extended trading Tuesday after the software and hardware maker reported fiscal first-quarter earnings that exceeded analysts’ estimates. 

 

Stock trading app Robinhood reported Tuesday a huge revenue miss for the third quarter, as cryptocurrency trading dropped off. 

 

Robinhood said that, barring any change in the market environment, the headwinds that dragged down last quarter — like lower retail trading activity — will persist into year-end. 

Source: CNBC, Investing.com