US stocks retreat from record highs even as mega-cap tech earnings impress

US stocks retreat from record highs even as mega-cap tech earnings impress

US stocks traded mixed on Wednesday, after hitting record highs reached in Tuesday's trading session as mega-cap tech companies reported strong earnings results. and rose in Wednesday trades after their third-quarter earnings results easily beat analysts' revenue and profit estimates. Both companies saw strong growth in their cloud units, and forward guidance remained on track for continued gains. One earnings report that disappointed investors was and saw a considerable slowdown in trading activity relative to prior quarters when meme-stocks and cryptocurrencies were extremely volatile. The stock fell 11% on Wednesday. Shiba inu coin continued its record run on Wednesday, and continuing its trek to become the 10th most valuable cryptocurrency in the world. Concerns about rising inflation continue be top of mind for many investors, including Tesla CEO Elon Musk, who noted in a tweet that oil fell 1.98%, to $82.97 per barrel. , oil's international benchmark, dropped 1.78%, to $84.86 per barrel. jumped as much as 0.15%, to $1,796.10 per ounce.