Streaming giant Netflix is set to reveal Tuesday its third-quarter earnings after the closing bell on Wall Street.

The company blamed a tax dispute in Brazil for dragging down margins, but said the stage is set for big gains in its ad business.

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The Dow touched an intraday record high while the Nasdaq slipped as investors focused on a wave of quarterly earnings while remaining vigilant about US-China trade tensions.

NEW YORK (AP) — U.S. stocks and the price of gold fell on Wednesday, as momentum on Wall Street reverses. The S&P 500 sank 0.5%, though it’s still within 1% of its all-time high set earlier this month. The Dow Jones Industrial Average dropped 334 points, or 0.7%, from its record set the day before, while the Nasdaq composite fell 0.9%.

Netflix's $120 billion stock market rally this year faces a crucial test on Tuesday: proving that its costly investments into advertising and video gaming can support the growth that made the streaming pioneer a Wall Street darling.

Wall Street experienced a downturn on Wednesday as Netflix's disappointing outlook and Tesla's anticipated earnings created tension. Investors remained wary amid high stock valuations and sought reassurance in mega-cap tech earnings.

U.S. stock futures slipped slightly on Tuesday after a strong Wall Street rally to start the week. Investors turned cautious ahead of key earnings from Netflix, Tesla, and Coca-Cola. Dow futures fell 69 points (–0.