Wall Street drifted higher as gains for most stocks outweighed drops for Alphabet and some other big-name companies following their latest profit reports.

The first attempt by the NY Fed was canceled because of "technical difficulties." Minutes later, the NY Fed successfully injected $53 billion into the system. The NY Fed announced plans late Tuesday to hold another repurchase agreement operation on Wednesday that would aim to repurchase up to an additional $75 billion. The surge continued Tuesday, with the overnight rate hitting a high of 10% before the NY Fed stepped in. No matter the cause, more Fed action may be needed, including additional temporary NY Fed operations.