Major tech stocks soared for the second day in a row leading to a significantly higher Wednesday than many expected.
Despite the rise in tech stocks, investors are focused on corporate earnings, especially after the results came from Netflix after the market closed on Tuesday.
After hours, Netflix gained as much as 10% on Tuesday evening, and investors are seeing this as a sign of potential.
Additionally, Abbott Labs shares were down nearly 2% after the company had reported a 7$ drop in sales, which was hit because of recalls of baby formula.
Strategist Scott Brown at LPL Researched noted the S&P 500 had been up some 6% since June 16, despite a rush of bad news.
Scott Brown says, "The Tuesday reading saw advancers outnumber decliners by more than 14:1 on the NYSE, and that comes on the heels of a nearly 8:1 reading on Friday, which at the time was the best reading since May of this year. Days like Tuesday are exactly what we are looking for and can go a long way towards changing the character of this market."
The results for United Airlines and Tesla will be featured after today's closing bell.