NEW YORK (Reuters) – U.S. stock markets closed higher. Google’s holding company Alphabet (GOOGL.O) New Tab opens new taband Microsoft (MSFT.O) New Tab opens new tabLarge-cap growth stocks rose on the back of strong financial results and moderate inflation indicators.
Alphabet’s first dividend, up to $70 billion in share buybacks, and strong first-quarter results were well received, with the stock price rising 10% to a record high. The market capitalization exceeded $2 trillion.See more
Microsoft also rose 1.8%. In the third quarter (ending March), sales and profits exceeded market expectations.See more
Other large-cap growth stocks also rose. Amazon.com (AMZN.O) New Tab opens new tabrose 3.4%, NVIDIA (NVDA.O) New Tab opens new tabrose 5.8%, Meta Platforms (META.O) New Tab opens new tabrose 0.4%.
Meanwhile, Apple (AAPL.O) New Tab opens new tabTesla (TSLA.O) fell 0.3%. New Tab opens new tabfell 1.1%.
Six of the 11 major S&P sectors rose. Communication service (.SPLRCL) New Tab opens new tabInformation Technology (.SPLRCT) New Tab opens new tabMaterial (.SPLRCM) New Tab opens new tabetc. has increased.
For the week, the S&P 500 and Nasdaq Composite recorded their largest increases since early November 2023. S&P500(.SPX) New Tab opens new tabfor the first time in four weeks, Nasdaq (.IXIC) New Tab opens new tabhas rebounded for the first time in five weeks.
“Microsoft and Google’s results significantly address concerns raised in Meta’s results that investments in data centers and artificial intelligence (AI) will squeeze profit margins,” said Tom Plumb, president and lead portfolio manager at Plumb Funds. It has softened,” he said. “Google and Microsoft have both indicated that they expect margin expansion under their current capital plans, which allays many of the concerns about data computing growth.”
The personal consumption expenditure (PCE) price index for March released by the US Department of Commerce on the 26th showed a moderate increase in the inflation rate. However, as housing prices remain high, the US Federal Reserve has indicated that it may maintain interest rate levels for the time being.See more
In financial markets, the probability that the Federal Reserve Board (Fed) will cut interest rates in September has increased.
Among individual stocks, Snap (SNAP.N), which operates the image-sharing app “Snapchat,” New Tab opens new tabhas rapidly increased by about 28%. In the first quarter results announced on the 25th, sales increased 21% year-on-year to $1.2 billion, exceeding the $1.12 billion expected by analysts based on LSEG Data.See more
Pinterest (PINS.N) New Tab opens new tabIt also rose 4%.
Meanwhile, US oil major Exxon Mobil (XOM.N) New Tab opens new tabis down about 3%. Adjusted profit for the first quarter (ended March 31) announced on the 26th was $8.22 billion, down 29% from the same period last year, which was lower than market expectations ($8.782 billion).
US semiconductor giant Intel (INTC.O) New Tab opens new tabIt also fell by 9.1%. The sales and profit forecasts for the second quarter announced on the 25th were lower than market expectations.See more
Advancing issues outnumbered declining issues on the New York Stock Exchange by a 2.25-to-1 ratio. On the Nasdaq, there were also many stocks that rose by a ratio of 1.84 to 1.
The total trading volume on US exchanges was 9.88 billion shares. The average for the last 20 business days was 11.01 billion shares.
This is a provisional value based on LSEG data.Changes from the previous day may not match *US stock market
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