Wall Street opened on Tuesday flat as investors reviewed earnings results from major companies. In the early hours of trading, the Dow Jones Industrial Average (.DJI), opens new tab rose 13.17 points, or 0.03%, to 46,719.75. The S&P 500 (.SPX), opens new tab gained 2.85 points, or 0.04%, to 6,737.98, while the Nasdaq Composite (.IXIC), opens new tab lost 9.71 points, or 0.04%, to 22,980.83.
In the third quarter, corporates have shown robust and widespread growth across key sectors. The S&P 500 is on track to achieve its ninth consecutive quarter of year-over-year earnings growth, with a projected increase of around 8%. T
This momentum has been particularly driven by technology, aerospace, and digital asset industries.
Among the technology heavyweights, Microsoft posted net income of approximately $27.2 billion, a 22% increase compared to last year, maintaining a valuation above $4 trillion, largely driven by its cloud computing and AI businesses.
Meta’s net income surged 36% to $18.3 billion due to strong revenue growth in its AI and advertising platforms. Amazon saw a 35% jump in net income, reaching $18.2 billion, while Apple reported $23.4 billion in net income, a 9% increase, driven by record iPhone sales and its thriving services business.
Other sectors also made significant contributions. Raytheon Technologies (RTX) posted $22.5 billion in sales, a 12% year-over-year increase, with adjusted earnings per share rising 17% to $1.70, alongside a robust $4 billion in free cash flow, reflecting operational efficiency.
Galaxy Digital, a key player in the digital asset space, reported net income of $505 million, benefiting from record trading volumes in a volatile market.
Taiwan Semiconductor Manufacturing Company (TSMC) achieved record quarterly profits, up 39% year-over-year, driven by strong demand for AI-focused chips.
In the aerospace sector, GE Aerospace raised its 2025 outlook after reporting strong results, over increased demand and improved manufacturing capabilities.