Dow jumps more than 200 points to rise for a fourth day as investors shake off disappointing tech profits

The Dow Jones Industrial Average and the S&P 500 rose for a fourth day on Wednesday, as traders dumped disappointing earnings from tech giants Microsoft and Alphabet.

The 30-share Dow Index traded up 293 points, or 0.9%, as Visa shares gave a boost to the index thanks to strong quarterly numbers. The S&P 500 rose 0.5% after falling earlier in the session. The Nasdaq Composite Index fell 0.2%.

Tuesday’s technology earnings sent the market down earlier in the day, but investors looked to other companies that outperformed expectations and lower bond yields with hope.

“Interest rates are really starting to have an impact in terms of bringing down the inflation story,” said Jimmy Cox, managing partner of Harris Financial Group. “This is really important for the markets.”

Shares of Google subsidiary Alphabet plunged 6.4% after the tech giant Missed expectations on the final result. Alphabet also reported a drop in YouTube ad revenue, which prompted investors to discuss the prospects for other tech companies that rely on ad spend.

Meanwhile, Microsoft stock fell about 6% after that The tech giant reports weaker-than-expected cloud revenue In its latest quarterly results, though, it beat earnings and revenue estimates. The company also issued guidance on current quarter revenue that did not live up to expectations.

“Investors may have been a little surprised by Microsoft’s negative guidance,” said Sam Stovall, chief investment analyst at CFRA, while noting that other companies such as Coca-Cola and UPS are doing better. “I think investors are feeling a little better in terms of the big blues.”

In other earnings news, shares of Harley-Davidson rose 6.7% after the motorcycle maker reported beating expectations before the bell. Meta was among the companies scheduled to report.

The key rates came in Wednesday’s three-day consecutive session.