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- The U.S. stock market has experienced its first winning week in the last four, led by Alphabet and Microsoft, with the largest weekly gain since November.
- Alphabet, Google’s parent company, surpassed analysts’ expectations for profit and announced its first dividend, while Microsoft also exceeded forecasts.
- Despite a slide for Intel due to a profit forecast that fell short of analysts’ expectations, the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all saw gains.
Alphabet and Microsoft drive U.S. stock market to its first winning week in a month, marking the largest weekly gain since November.
Alphabet and Microsoft Lead Market Rally
Alphabet and Microsoft have spearheaded a rally in the U.S. stock market, marking its first winning week in the last four. The S&P 500 rose by 1% on Friday, while the Dow Jones Industrial Average added 0.4%, and the Nasdaq composite gained 2%. Alphabet, Google’s parent company, saw a significant jump after surpassing analysts’ profit expectations and announcing its first dividend. Microsoft also saw a climb after topping forecasts.
Intel’s Slide Offset by Market Gains
Despite a slide for Intel, which gave a profit forecast that fell short of analysts’ expectations, the market gains remained robust. 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.
Weekly and Yearly Market Performance
For the week, the S&P 500 is up 132.73 points, or 2.7%. The Dow is up 253.26 points, or 0.7%. The Nasdaq is up 645.89 points, or 4.2%. The Russell 2000 is up 54.34 points, or 2.8%. For the year, the S&P 500 is up 330.13 points, or 6.9%. The Dow is up 550.12 points, or 1.5%. The Nasdaq is up 916.55 points, or 6.1%. The Russell 2000 is down 25.07 points, or 1.2%.
Conclusion
The U.S. stock market has seen a positive week, largely driven by the strong performance of Alphabet and Microsoft. Despite some setbacks, such as Intel’s disappointing profit forecast, the overall market trend has been upward. This positive momentum is expected to continue, given the strong performance of major companies and the easing of treasury yields.
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