The Globe and Mail reports in its Wednesday edition that the tech-heavy Nasdaq lost ground on Tuesday as the market awaited a spate of high-profile corporate earnings and the Federal Reserve convened for its monetary policy meeting. A Reuters dispatch to The Globe says the S&P 500 closed slightly lower after touching a new intraday high, while the blue-chip Dow and the Canadian benchmark finished slightly higher, with energy stocks a bright spot. Shares of Alphabet and Microsoft fell in extended trading after the companies released their quarterly earnings reports. "There's a lot of trepidation over the start of the earnings releases from the Magnificent Seven," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Va. "The stocks have done incredibly well and there's a little bit of caution being expressed right now and maybe rightly so." The S&P/TSX Composite Index ended up 27.81 points at 21,227.87, its highest closing level since April, 2022. The latest economic forecasts from the International Monetary Fund helped to bolster investor hopes of a soft economic landing. Toronto's energy sector rallied 1.6 per cent as the price of oil settled 1.4 per cent higher at $77.82 (U.S.) a barrel.