Previous close | 4.7060 |
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Volume |
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52-week range | |
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U.S. stocks closed higher 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 after its third-quarter revenue and profit exceeded Wall Street estimates, driven by gains from artificial intelligence (AI) adoption across its cloud services.
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.
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. Lifting sentiment further, Microsoft rose 2.5% on beating Wall Street estimates for third-quarter revenue and profit, driven by gains from AI adoption across its cloud services. Other growth stocks also traded higher on the results, with Amazon.com and Nvidia up 2.9% and 5.0%, respectively.