The $2 trillion market-cap club looks to be getting a new member. Alphabet shares are up 9.7% in morning trading Friday, which implies a $2.14 trillion market value for the Google parent company. If the current action carries through to the close,
Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over $2 trillion, while an in-line inflation reading calmed interest rate jitters.
Big Tech stocks are propelling a popular exchange-traded fund to a big weekly gain, as shares of Google parent Alphabet Inc. and Microsoft Corp. jump after reporting quarterly earnings. The Invesco QQQ Trust Series I,
Microsoft and Googleās owner Alphabet have quashed investor scepticism around the vast sums spent on developing artificial intelligence, after being boosted by rampant corporate demand for their cloud computing services.
Alphabet and Microsoft led the U.S. stock market to its first winning week in the last four and its biggest weekly gain since November. The S&P 500 rose 1% Friday.
Friday's PCE inflation data for March came in as expected on a monthly basis, "allaying some of the worst fears," according to Chris Low, chief economist for FHN Financial in New York. "Inflation was bad,
Wall Street marched higher on Friday, after earnings from tech behemoths Microsoft (MSFT) and Alphabet (GOOG) (GOOGL) reignited the artificial intelligence (AI) craze. Moreover, traders bracing for another hotter-than-expected reading on inflation were calmed after the Federal Reserve's preferred price gauge largely matched estimates.
The stock market climbed Friday, as investors digested positive earnings reports from Alphabet and Microsoft and the latest PCE inflation data. The S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite all closed higher.
Bond prices rallied and yields retreated in relief Friday after the latest inflation figures matched expectations. Traders had been fearing a hotter-than-expected reading. The 2-year Treasury yield was down to 4.
Strong gains for Alphabet and Microsoft have the U.S. stock market on track for its first winning week in the last four. The S&P 500 rose 0.6% early Friday. The
Stock index futures edged up on Friday, with Nasdaq 100 futures leading the pack helped by a boost from Alphabet's (GOOGL) and Microsoft's (MSFT) quarterly results, while investors also received further inflation data.
The major market averages edged up on Friday, with Nasdaq Composite leading the pack helped by a boost from Alphabet's (GOOGL) and Microsoft's (MSFT) quarterly results.