Tech Giants Propel Nasdaq to New Heights Amid Mixed Market Results

Tech stocks, led by Alphabet, drove Nasdaq higher with significant quarterly earnings, while the broader market saw mixed results. Eli Lilly stocks faltered due to missed drug sales estimates. Investors await key economic data, with expectations of potential Federal Reserve rate cuts amid evolving employment trends.

Tech-driven optimism surged on Wall Street as Alphabet's robust earnings bolstered investor sentiment, pushing the Nasdaq to new highs. Alphabet's cloud sales and YouTube revenue exceeded projections, propelling its stock by 6.3%.

Elsewhere, pharma giant Eli Lilly saw a 9.3% drop after failing to meet sales goals for its weight-loss and diabetes treatments. Similarly, semiconductor company AMD disappointed after its forecasts fell short.

Investors now eye crucial employment and GDP data, with potential Federal Reserve interest rate cuts looming as a contentious presidential race unfolds alongside pivotal economic indicators.

(With inputs from agencies.)