The Nasdaq touched its all-time high on Tuesday. It touched a record high at 8,161.85 points.
However, Alphabet, the parent company of Google has shown poor first-quarter results. The tech company dragged the index by almost 72 points. Nasdaq Composite fell almost 1.2 percent from its all-time high on Tuesday. S&P 500 fell 8 points from record highs.
Companies like McDonald have performed beyond analyst expectations. The burger chain same-store sale was up by 5.4 percent for the first quarter, above the analyst expectation of 3.4 percent.
General Electric has shown 13 cents as earnings per share, much above the expected 9 cents per share on Tuesday. The shares went up by 5 percent on the results.
Of the S&P 500 companies which have reported their earnings result, almost half of them have shown good results. 77 percent of them have gone beyond analyst expectations. If the trend continues, earnings growth may show an increase above 0.7 percent this year, feel analysts. Corporate America has done well in earnings growth for the first quarter this year.
A stable Fed will be able to bring in a stable market says Mark Heppenstall, the Chief Investment Officer from Penn Mutual Asset Management.
The FedWatch tool by CME reports that a rate hike is not expected this year. However, there is a 57 percent possibility for a rate hike in December.
The trade talks that are going on are being watched by investors though the deal is being worked up at a very slow pace.
The monetary policy meeting is to take place by the Federal Reserve this week. No fundamental changes are expected, with the interest rates to remain the same for the near-term.
The U.S. economy has grown at a better than expected rate at 3.2 percent for the first quarter. If there is consistent growth, the Fed may think about a hike in rates.