Alphabet and Microsoft led the U.S. stock market to its first winning week in the last four and its biggest weekly gain since November.
The S&P 500 rose 1% Friday. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite gained 2%.
Google’s parent company jumped after breezing past analysts’ expectations for profit and announcing its first dividend. Microsoft climbed after also topping forecasts. They helped offset a slide for Intel after it gave a forecast for profit that fell short of analysts’ expectations. Treasury yields eased after a report on inflation for March came in close to expectations.
On Friday:
The S&P 500 rose 51.54 points, or 1%, to 5,099.96.
The Dow Jones Industrial Average rose 153.86 points, or 0.4%, to 38,239.66.
The Nasdaq composite rose 316.14 points, or 2%, to 15,927.90.
The Russell 2000 index of smaller companies rose 20.88 points, or 1.1%, to 2,002.
New Godzilla x Kong film continues to lead China box office
China issues guidelines to enhance management of community workers
Highlights of Hong Kong Open 2023
French sports minister calls for sanctions after Monaco player tapes over anti
Int'l plum blossom festival kicks off in Nanjing
Box office hit sparks boxing frenzy
Box office hit sparks boxing frenzy
Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
New findings unveil stone processing practices of China's Liangzhu civilization
Siblings trying to make US water polo teams for Paris Olympics
In pics: sailing race at 19th Asian Games