Wall Street indexes post records as Nvidia jumps

STORY: Wall Street's main indexes posted record closing highs again on Tuesday, with the Dow gaining about a third of a percent, the S&P 500 adding nearly a quarter of a percent and the Nasdaq climbing eight-tenths of a percent.Strong third-quarter results have powered the market, with earnings from S&P 500 companies estimated to have increased 10.5% from a year ago, according to LSEG data.Eric Diton is president and managing director of The Wealth Alliance."This is driven by earnings. We've got three quarters in a row of double digit earnings. And by the way, the first 150 companies that have reported, 82% of them have beaten on revenue. Do you want to know when the last time that happened was? 2001. So you are just seeing incredible strength across the board. All these worries about tariffs, at least up to this point, there generally, there are limited exceptions, but generally speaking, they are not hurting the earnings picture and that's what the markets are reflecting."Stocks on the move Tuesday included Nvidia, which gained 5% following news the chip powerhouse will build AI supercomputers for the U.S. energy department.Nvidia is also taking a $1 billion stake in Nokia, which was announced by the Finland-based networking company on Tuesday. Shares of Nokia soared almost 23% after announcing the partnership.Shares of Microsoft rose 2% after the tech giant reached a deal that allows Chat GPT maker OpenAI to restructure into a public benefit corporation, of which Microsoft will own 27%.Microsoft reports quarterly earnings on Wednesday, along with fellow Magnificent 7 megacap companies Meta Platforms and Alphabet.Also on Wednesday, the U.S. Federal Reserve is expected to announce a cut in interest rates.

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