Nasdaq up 1.35% (Il Sole 24 Ore Radiocor) - New York, 23 Apr - US shares were higher midday boosted by the tech sector as investors digested a flurry of earnings ahead of Tesla's update after market close.

Wall Street ended higher yesterday as the S&P 500 and Nasdaq broke a six-day losing streak, boosted by a resurgence of interest in AI companies like Nvidia.

With geopolitical tensions on the wane, the focus is now firmly on corporate America to see how businesses are responding to fallout from high interest rates.

Tesla, one of the Magnificent Seven stocks, has had a rocky start to the year amid disappointing delivery figures for the first three months and price cuts on some of its models in key markets like the US and China as it looks to fight off competition.

Big three carmaker GM, meanwhile, raised its profit outlook after strong first quarter results and saw its shares rise 2% while PepsiCo fell 3.5% after its sales beat expectations but earnings disappointed. Spotify shares soared 38% after the company swung to a profit in the first three months.

At 1516 GMT, the Dow Jones was up 211.57 points, or 0.55%, at 38,451.55 points.

The S&P 500 was 49.85 points, or 0.99%, higher at 5,060.45 points.

The Nasdaq was up 208.79 points, or 1.35%, at 15,660.09 points.

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(RADIOCOR) 23-04-24 17:23:42 (0698) 5 NNNN