By Will Horner

U.S. stocks opened lower as investors parsed a swath of earnings while awaiting numbers from some of the world's largest technology companies.

Tech stocks have been some of the best performers this year and make up a large chunk of the broad S&P 500 index. How well they are coping with higher interest rates and signs of a slowing economy will be key for the direction of the market, said David Donabedian, chief investment officer at CIBC Private Wealth US.

"The view has been that these are bulletproof companies," he said. "But I do think you'll see that with some of them, there is a cyclical component and some are at risk of revenue shortfalls."

In recent market action: 


   -- The S&P 500 was down 0.4% while the Dow Jones Industrial Average was 
      roughly flat. The Nasdaq Composite declined 0.6%. 
 
   -- First Republic Bank tumbled 27% after the lender's results showed it had 
      lost around $100 billion in customer deposits during the recent banking 
      turmoil. 
 
   -- Microsoft and Google parent Alphabet are the headliners of the mega-cap 
      earnings due today. The tech companies are set to report after the close 
      of trading, when Visa will also post results. 
 
   -- Yields on U.S. government bonds dropped. The benchmark 10-year Treasury 
      yield fell to 3.435%, from 3.514% Monday. 
 
   -- In Europe, the Stoxx 600 index fell 0.4% led by losses for banks. UBS 
      fell 0.7% after the Swiss banking giant reported earnings. 
 
   -- Asian indexes were mostly lower. The Hang Seng Index fell 1.7% while the 
      Shanghai Composite edged down 0.3%. Japan's Nikkei 225 inched 0.1% 
      higher.

Write to Will Horner at william.horner@wsj.com


(END) Dow Jones Newswires

04-25-23 0955ET