Stock Market Today: Tesla, UPS Dominate Full Day of Earnings Moves

Tesla (TSLA) sank Tuesday despite reporting record profits while UPS (UPS) popped on a strong earnings beat. The broader indexes did a lot less moving, though.

UPS truck
(Image credit: Getty Images)

Tesla (TSLA), United Parcel Service (UPS) and a handful of other stocks got moving on earnings news Tuesday. But broadly speaking, stocks mostly treaded water, with some investors likely keeping a watchful eye fixed on tomorrow's Federal Reserve news.

"Wednesday's FOMC statement is arguably the most important statement so far this year, as investors are increasingly trying to figure out when the Fed may start to pare back its Covid-19-related stimulus, since the economy is recovering at a faster-than-expected rate," says Danielle DiMartino Booth, CEO and chief strategist of research firm Quill Intelligence.

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Kyle Woodley was long AMZN as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.