STORY: U.S. stocks closed higher on Tuesday following upbeat earnings from corporate giants like General Motors.
The Dow added nearly seven-tenths of a percent, the S&P 500 gained 1.2% and the Nasdaq rose roughly 1.6%.
Shares of General Motors popped more than 4% after the automaker topped Wall Street's targets and raised its annual forecast, citing stable pricing and solid demand for its gas-powered cars.
Meanwhile, shares of electric-vehicle maker Tesla, which closed up more than 1.5%, gained another 6% in after-hours trading as investors cheered the news it would move up the launch of new models. This overshadowed a significant revenue drop for the quarter.
Big Tech peers Microsoft, Alphabet and Meta Platforms report results later this week.
And as Big Tech goes, so goes the market, notes Kevin Mahn, president and chief investment officer at Hennion & Walsh Asset Management.
"I believe there is still room to grow for Big Tech. Unfortunately, the biggest of the big tech names that being Nvidia doesn't report till May. So even if we have a couple of hiccups with respect to the other big tech names over the next couple weeks, NVIDIA can come to the rescue later in May, as they have tended to do over the course of the past year and a half."
Shares of Spotify rose nearly 11.5% after the Swedish music streaming giant posted gross profit that topped 1 billion euros - or $1.1 billion - for the first time.
On the downside, shares of JetBlue plunged nearly 19% as the low-cost carrier trimmed its annual revenue forecast following lukewarm first-quarter revenue.
