Alphabet and Microsoft’s Strong Earnings Lead to Jumps in S&P 500, Nasdaq, and Dow Jones
Alphabet’s recent dividend announcement led to a nearly ten percent increase in the value of its A share on Wall Street. This was after about an hour of trading on the New York stock exchanges, and all main stock indices, including the S&P 500, Nasdaq, and Dow Jones, were showing positive gains. The S&P 500 general index representing the US stock market rose by 1.1 percent, while the technology-focused Nasdaq had risen by about two percent and the Dow Jones index by half a percent.
Microsoft also experienced a rise in its share after reporting results that exceeded analysts’ expectations. However, semiconductor manufacturer Intel’s share was down about 10.5 percent due to disappointing guidance. On the other hand, oil companies Exxon Mobil and Chevron saw decreases in their stock values as investors were disappointed with their results.
Other sectors saw positive signs as well with macroeconomic data from the United States released on Friday showing positive trends in private consumption and inflation levels. Overall, these developments contributed to the overall growth and optimism in the market with various companies reporting better-than-expected earnings and dividends being paid out.
