The NASDAQ has gained over 2% today spurred by fantastic earnings from the tech sector, which has seen substantial profit taking as of late. Amazon.com Inc (NASDAQ:AMZN) reported earnings per share of 52 cents a share, way ahead of Wall Streets estimate of 3 cents a share. Amazon Web Services, the company's cloud business, was its primary driver for growth, with sales leaping 42% on a year-over-year basis. Amazon also received a boost in sales from its Whole Foods acquisition back in August. Meanwhile, the Microsoft Corporation (NASDAQ:MSFT) beat Wall Street earnings expectations by 12 cents a share as its commercial cloud business topped $20 billion in annualized revenue for its fiscal first quarter. The stock was on track to post its biggest one-day gain since October of 2015. Alphabet Inc. (NASDAQ:GOOGL) reported an adjusted earnings per share of $9.57, well above the estimate of $8.33 a share, as the company saw a higher-than-expected surge in the volume of clicks on Google ads across the world, especially in Asia. Tech is best-performing sector on Friday, with the Technology Select Sector SPDR ETF (PACF:XLK) popping 2.6% and hitting its highest level since March of 2000. Information technology has handily outperformed the broader U.S. stock market this year. The sector is up about 30% in 2017, while the S&P 500 has gained approximately 15%. Key levels to watch next week: S&P 500 (CME:SP500): 2,541.60 Dow (INDEX:DJI): 22,739.38 NASDAQ (NASDAQ:COMP): 6,517.93 Gold (NYMEX:GC.Z17.E): 1,283.80 Crude Oil (NYMEX:CL.X17.E): 51.89 U.S. Dollar (NYBOT:DX.Z17.E): 92.59
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.