Earnings Report

The revenue total surpassed projections on Wall Street, where analysts estimated sales of $103.28 billion, and marked the first $100 billion quarter in Apple's history.

U.S. equity markets were under pressure Wednesday after the Federal Reserve kept policy on hold and investors grappled with the ongoing short squeeze in a number of companies' shares. 

The coronavirus crisis has exacerbated a drop in demand for the industry's largest jetliners, with airline customers shunning deliveries of planes due to international travel restrictions, hurting cash flow at the U.S. planemaker.

Earnings are expected from Boeing, AT&T, Apple, Facebook and Tesla

The software giant said its fiscal second-quarter net income rose more than 30% to $15.5 billion. Sales advanced 17% to $43.1 billion. Those figures beat Wall Street’s expectation of net income of $12.6 billion and sales of $40.2 billion, according to FactSet.

Starbucks said Tuesday that sales were recovering in China in particular even as the pandemic has necessitated continued store closures elsewhere

This week is set to be the busiest for quarterly earnings reports this season.

The manufacturing conglomerate's shares rose 4.8% as it reported free cash flow from industrial operations of $4.37 billion, GE said.

The Nasdaq Composite soared to a record high ahead of a busy week for tech earnings.

Overall, more than a fifth of the S&P 500 and a third of the Dow Jones Industrial Average are expected to provide their quarterly updates starting Monday.