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US: Strong tech earnings lift stocks, Nasdaq +1.5%

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[NEW YORK] Wall Street stocks finished a choppy session higher Friday after large tech companies reported strong earnings and Washington policymakers haggled over another round of fiscal support. Read more at The Business Times.

Wall Street stocks finished a choppy session higher Friday after large tech companies reported strong earnings and Washington policymakers haggled over another round of fiscal support.[NEW YORK] Wall Street stocks finished a choppy session higher Friday after large tech companies reported strong earnings and Washington policymakers haggled over another round of fiscal support.

The tech-rich Nasdaq Composite Index led the major indices, winning 1.5 per cent to end at 10,745.27. The Dow Jones Industrial Average added 0.4 per cent at 26,429.06, while the broad-based S&P 500 gained 0.8 per cent to 3,271.26. Tech giants Amazon, Alphabet, Apple and Facebook all reported better-than-expected results after the market closed Thursday, validating surging valuations built on expectations the sector would be a big winner amid the pandemic upheaval.

Apple surged 10.5 per cent and Facebook won 8.2 per cent, both all-time highs. Amazon also climbed, while Google parent Alphabet ended lower.

 

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