Wall Street comes under pressure ahead of Tesla, Alphabet results

The stock market was lower on Wednesday, as investors geared up to assess earnings reports from major technology companies.

S&P 500 (SP500) -0.3%, the Dow (DJI) -0.1%, and the Nasdaq Composite (COMP:IND) -0.5%.

The benchmark 10-year Treasury yield (US10Y) rose 1 basis point to 4.64%, while the 30-year yield (US30Y) gained 1 basis point to 5.14%. The 2-year yield (US2Y) eased 1 basis point to 4.27%. 

Tesla (TSLA) and Alphabet (GOOG) (GOOGL) are scheduled to report quarterly results later in the day, with investors looking for updates on artificial intelligence spending, advertising demand, and the outlook for the technology sector.

On the economic calendar, investors will monitor the Atlanta Fed's Business Inflation Expectations.