By Dhirendra Tripathi
Investing.com — Stocks jumped again on Tuesday, pushing the S&P 500 to another record high as technology earnings continue to roll in.
Tesla Inc (NASDAQ:TSLA)shares continued to climb even after the electric car maker’s market value topped $1 trillion for the first time on Monday, making it more valuable than the next nine automaker stocks combined.
NVIDIA Corporation (NASDAQ:NVDA), whose chips are used for gaming, artificial intelligence and crypto mining, hit an all time high. After the closing bell, investors will hear quarterly earnings from Twitter Inc (NYSE:TWTR), Microsoft Corporation (NASDAQ:MSFT) and Google (NASDAQ:GOOGL) parent Alphabet Inc Class C (NASDAQ:GOOG)
In good news for holiday shoppers, United Parcel Service Inc (NYSE:UPS)reported better-than-expected quarterly earnings and revenue, bolstered by strong e-commerce demand, while industrial stalwart General Electric Company (NYSE:GE) raised its full-year earnings guidance.
Reuters reported that earnings at S&P 500 companies are expected to grow 35.6% compared to last year despite supply-chain bottlenecks, labor shortages and inflationary pressures.
Oil prices rose again, too, and seemed destined to top $100 a barrel as increasing fuel demand, particularly in the U.S., is mismatched with only gradual increases in supply. Data from the industry for last week’s crude inventories is due after the closing bell, and government data comes out Wednesday morning.
Here are three things that could affect markets tomorrow:
1. Boeing earnings
Boeing Co (NYSE:BA)will declare its third-quarter results Wednesday. Revenue is seen at $16.48 billion with a loss per share coming in at 15 cents, according to analysts tracked by Investing.com.
2. Have a Coke
Coca-Cola Co (NYSE:KO)’s third-quarter profit per share is expected to be 57 cents on revenue of $9.78 billion.
3. McDonald’s outlook
McDonald’s Corporation (NYSE:MCD)’s revenue in the third-quarter is expected to be $6.06 billion with profit per share seen at $2.46. As with Coca-Cola, analysts will be listening to McDonald’s executives for word about rising food and transportation costs and the effect of those costs on margins.