On Wednesday, the US stock market showed mixed trading amid an upbeat performance by Big Tech and a disappointment by First Republic Bank.
The Dow Jones Industrial Index, which initially rose more than 100 points, ended lower at the close of the New York session, down 0.68% at 33,301.87.
While the S&P 500 also declined 0.38% at 4,055.99 and the Nasdaq rose 0.47% to close at 11,854.35 after shedding 1.43% from its daily high during trading.
First Republic Bank slipped lower with losses of nearly 30% following reports of a 40% drop in deposits in the first quarter, which reignited concerns about the banking system.
Meanwhile, Microsoft shares jumped more than 7% to their highest level in more than a year on revenue and profit that beat Wall Street expectations, with significant revenue growth from its Intelligent Cloud business segment.
Amazon, meanwhile, rose more than 2% with investors optimistic about strong revenue growth in the e-commerce giant's cloud business.
Meanwhile, despite Alphabet's latest earnings report beating expectations, its shares fell 0.1%, as revenue growth rose just 3% compared to the same period a year earlier.
Despite the encouraging performance of Big Tech, the global market moved higher.
Investors are now looking forward to the first quarter US gross domestic product (GDP) data in the New York session today for the next indication of the health of the world's giant economy.
