3 things to look out for on Wednesday

Wall Street’s major indexes climbed higher on Tuesday, buoyed by strong earnings beats from several big-name companies. At the same time, oil prices remained elevated amid ongoing tensions in the Middle East.

The S&P 500 (SP500) rose +0.9%, the Nasdaq Composite (COMP:IND) gained +1.2%, and the Dow Jones Industrial Average (DJI) advanced +0.7%.

Now, here are three things to look out for on Wednesday: 

• Market participants will be closely watching Alphabet’s (GOOG)(GOOGL) earnings report, due after the bell on Wednesday. Investors will be searching for fresh insights into advertising revenue trends, cloud computing momentum, and the company’s continued heavy investment in artificial intelligence, along with any updates on YouTube performance and overall operating margins.
• Furthermore, Wall Street will be closely focused on Tesla’s (TSLA) earnings report, scheduled after the bell as well. Investors will be watching for updates on vehicle delivery momentum, automotive gross margins, energy storage growth, and management’s commentary on Full Self-Driving progress as well as the company’s longer-term outlook.
• Elsewhere on the earnings docket, investors will be tuning into results from Philip Morris International (PM). Market participants will be watching for trends in cigarette shipment volumes, smoke-free product growth — particularly IQOS and oral nicotine — as well as pricing strength and overall profitability margins.

Market Tracking ETFs: (DIA), (DDM), (DOG), (DXD), (SDOW), (SPY), (VOO), (IVV), (RSP), (SSO), (UPRO), (SH), (SDS), (SPXU), (QQQ), (QQQM), (TQQQ), (QID), and (SQQQ).