By Devik Jain

(Reuters] – Tuesday’s record highs in and were driven by Facebook after its quarter results and a share purchase plan. The company turned the spotlight onto its peers in technology, set to report later that day.

Facebook Inc The stock (NASDAQ:), rose 2.5% in premarket trades, even though the social media firm warned that Apple Inc’s (NASDAQ:), new privacy policies would affect its digital business this quarter. It announced $50 billion worth of share buybacks and reported a 17% increase in its third quarter profit.

The shares of Twitter Inc (NYSE:), which also makes revenue from selling digital ads on Tuesday, saw an increase of 1.4%

Alphabet Inc (NASDAQ:) Inc quarterly updates are also being watched. Microsoft Corp (NASDAQ:) After market close. Focus on Google’s Ad Revenue. They were up 0.1% to 1.5%, along with Amazon.com (NASDAQ) growth names and Apple.

United Parcel Service Inc (NYSE) gained 4.5%, after reporting a 23% jump in quarterly profit. The delivery company was helped by high ecommerce demand.

Some stellar earnings reports have helped drive the Dow and the S&P 500 to record highs, lifting investor sentiment in October after concerns around inflation, the Fed’s tapering and the China Evergrande crisis rattled markets last month.

Earnings at S&P 500 companies are expected to grow 34.8% year-on-year for the third quarter, with market participants assessing how companies are navigating supply-chain bottlenecks, labor shortages and inflationary pressures.

6.58 AM ET ET Dow e-minis increased 129 points (or 0.36%) and was up 18.25 point (0.4%), while they were up 86.5, or 0.56%.

The economic data data is expected to be released at 10:10 a.m. with consumer confidence data. ET.

Boeing (NYSE) Co. Gains in economically sensitive industries Caterpillar Futures that track the blue-chip Dow were most boosted by Inc (NYSE:).

General Electric (NYSE:) Co increased 1.6% following an increase in full-year earnings estimates by the industrial conglomerate, while diversified manufacturer 3M Co fell 0.8% after it tightened its annual profits outlook due to disruptions in its supply network.

Tesla (NASDAQ) Inc lost 0.3% a day following the $1 trillion mark in market capitalization of Tesla after it received its largest order ever from Hertz, a rental car company.

Chipmakers Texas Instruments (NASDAQ 🙂 and Advanced Micro Devices, (NASDAQ :), brokerage Robinhood Markets Inc (NASDAQ) and Payments company Visa Inc (NYSE: ) also expected to announce results in the later part of today.