U.S. stocks climbed to record levels on Tuesday as major corporations continued to turn in solid quarterly results, but major averages closed off their highs of the day with some major tech names rolling over.

The S&P 500 rose nearly 0.2%, hitting a fresh record as well at 4,574.79. 

Nearly 30% S&P 500 companies have reported earnings and more than 80% of them beat Wall Street expectations, according to CNBC calculations. S&P 500 companies are expected to grow profit by about 35.6% in the third quarter.

On the data front, U.S. consumer confidence rose in October, reversing a three-month downward trend, according to the Conference Board. Its consumer confidence index climbed to a reading of 113.8, topping a Dow Jones expectation of 108 and up from 109.8 in September.

U.S. stock index futures were mildly higher during early morning trading on Wednesday after the Dow and S&P closed at record highs as earnings season continues.

The Nasdaq Composite rose less than 0.1% to 15,235.71.

Technology darlings Alphabet and Microsoft traded higher heading into their earnings reports after the bell Tuesday. Microsoft bulls are expecting a strong quarter for the tech giant, bolstered by its key Azure business. Analysts are expecting Alphabet earnings to come in 43% higher year over year.

On the economic front, U.S. durable goods order data will be released on Wednesday at 8:30 a.m. ET.

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