U.S. stocks fell Wednesday, as another busy day of earnings gave investors a fresh sense of how companies are coping with an economic slowdown and higher interest rates.

Meta's stock rose 2.4% after Citi reaffirmed its "buy" rating on the social media company. While there's limited visibility on the macroeconomic front, Citi believes the market is stabilizing.

Netflix saw a 6% increase in their stock after the streaming giant added 7.66 million net subscribers in the fourth quarter, surpassing the 4.57 million that was anticipated by StreetAccount.

After China's reopening and a series of positive data surprises in recent weeks, economists are revising their previously pessimistic outlooks for the global economy.

In tough times, American investors often turn to everyday consumer goods as a way to stabilize their portfolios.