Stocks rise for a fourth straight day as Alphabet leads tech higher, Dow jumps more than 200 points; European stocks close higher on strong earnings 
Stocks rose for a fourth straight day Wednesday, as Alphabet propelled gains in tech thanks to strong quarterly earnings. The S&P 500 rose 0.9%, while the Dow Jones Industrial Average jumped 240 points, or 0.6%. The tech-heavy Nasdaq Composite climbed 0.5%. 
Shares of Google-parent Alphabet popped more than 8% after its quarterly numbers topped analyst expectations. The company reported a quarterly beat on the top and bottom lines and announced a 20-for-1 stock split. 
Chipmaker Advanced Micro Devices gained 5% on strong earnings and guidance. Qualcomm rose 6% ahead of its quarterly earnings report after the closing bell. Match Group rose 6% after the company posted a jump in profits that beat analysts’ estimates. 
Elsewhere, General Motors shares dipped after coming up light on quarterly revenue, despite beating earnings estimates and raising its 2022 forecast. 
PayPal slid 24% after issuing disappointing guidance for the current quarter, which it blamed on inflation. Starbucks dipped slightly after the company reported a quarterly earnings miss and cut its earnings outlook for fiscal 2022. 

The pan-European Stoxx 600 closed up 0.5% with most sectors and major bourses in positive territory. Financials were among the top performers amid expectations of higher interest rates. 
Annual euro zone inflation hit an all-time high in January, according to preliminary Eurostat figures published Wednesday. Consumer prices rose 5.1% year-on-year after a 5% rise in December as energy prices continued to soar, exerting further pressure on the European Central Bank to tighten monetary policy. 
Source: CNBC, Investing.com