- Reuters
US STOCKS-Wall Street shares lifted by rally in megacap tech stocks
U.S. stocks rose on Friday, buoyed by a rally in megacap growth stocks following robust quarterly results from technology heavyweights Alphabet and Microsoft in addition to moderate inflation data. Investors cheered Alphabet's first-ever dividend, its $70 billion stock buyback program, and better-than-expected first-quarter results. Microsoft shares rose 2.7% after its third-quarter revenue and profit exceeded Wall Street estimates, driven by gains from artificial intelligence (AI) adoption across its cloud services.
- Barrons.com
Alphabet, Microsoft Earnings Boost Market
Earnings reports from Google’s parent Alphabet and Microsoft breathed new life into the market on Friday. The “Magnificent Seven” group that includes the aforementioned tech stocks, along with Tesla, Apple, Amazon.com, Meta Platforms and Nvidia, were on track to add $686 billion in market capitalization this week, according to Dow Jones Market Data. Alphabet stock was up 10% in recent trading, Nvidia stock was up 5.5%, Amazon stock was up 3.6%, and Microsoft stock was up 2.6%.
- Investor's Business Daily
Google Helps Lift Nasdaq As Microsoft, Amazon Lead Dow Jones
Google stock soared after parent-company Alphabet reported its earnings results. Dow Jones stock Microsoft also rallied after its numbers.
