The Dow rose 200 points for a fourth straight day as investors shook off disappointing tech earnings

Stocks rose on Wednesday after investors shook off a disappointing first round of tech earnings.

The Dow Jones Industrial Average added 240 points, or 0.8%, as Visa shares gave the index a small boost on strong quarterly numbers. The S&P 500 added 0.2%, while the Nasdaq composite lost 0.5%.

Shares of Google-parent Alphabet fell 8.5% after the tech company Missed expectations on the top and bottom lines. Alphabet reported a decline in YouTube ad revenue, prompting investors to downgrade the outlook for other tech companies that rely on ad spending.

Tuesday’s tech earnings dragged the market earlier in the day, but investors looked to other companies that beat expectations and canceled bond yield rates for optimism.

“Investors may have been a bit surprised by the negative guidance from Microsoft,” said Sam Stovall, chief investment strategist at CFRA, while the likes of Coca-Cola and UPS performed well. “I think investors are feeling a little better about more large-cap, blue-chip stocks.”

Meanwhile, Microsoft later fell about 7.6% The tech giant’s cloud revenue is weaker than expected Despite beating revenue and earnings estimates in its latest quarterly results. The company also issued current quarter revenue guidance that fell short of expectations.

“I think we have to take a big-picture view, nobody in this market is really immune to the slowdown in digital ad spending,” Sand Hill Global Advisors’ Brenda Vingiello said Tuesday on CNBC’s “Closing Bell: Overtime.”

In other earnings news, Harley-Davidson shares rose 6.7% after the motorcycle maker reported beating expectations before the hour. Among the companies set to report was Meta.

Mercury’s early performance was a reversal from the previous three days of gains in major indices. On Tuesday, the Nasdaq rose 2.2%, while the S&P 500 and Dow gained 1.6% and 1.1%, respectively. Tuesday’s close marked the first time since October that the major indices rose for three days in a row.

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