HOG - Dow Zooms Other Indexes in Reverse
Stocks slid Wednesday after a disappointing first round of technology earnings made investors more cautious looking toward the second half of the week.
The Dow Jones Industrials gained 136.81 points to 31,973.55.
The S&P 500 shed 9.69 points to 3,849.42.
The NASDAQ dropped 139.6 points, or 1.3%, to 11,059.52.
Shares of Google-parent Alphabet dropped 8.5% after the tech giant missed expectations on the top and bottom lines. Alphabet also reported a decline in YouTube ad revenue, which spurred investors to deliberate the outlook for other tech companies that rely on ad spending.
Meanwhile, Microsoft declined about 7.6% after the tech giant reported weaker-than-expected cloud revenue in its latest quarterly results, despite beating earnings and revenue estimates. The company also issued current-quarter revenue guidance that fell short of expectations.
In other earnings news, Harley-Davidson shares rose 6.7% after the motorcycle maker reported beating expectations before the bell. Meta was among the companies also set to report.
Traders are also watching for the latest economic data on new home sales.
Treasury prices gained, lowering yields to 4.03% from Tuesday's 4.09%. Treasury prices and yields move in opposite directions.
Oil prices heightened $1.28 to $86.60 U.S. a barrel.
Gold prices acquired $13.60 to $1,671.60 U.S. an ounce.