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S&P 500 and Nasdaq hit fresh record high as Alphabet and Twitter gain on earnings


Friday, 26 July 2019 23:40 WIB

Standard & Poor's 500Saham AS


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Stocks rose on Friday after strong earnings from big tech companies such as Alphabet and Intel while the U.S. economy grew at a better-than-expected clip in the second quarter.

The S&P 500 gained 0.6% while the Nasdaq Composite climbed 1%. Both indexes reached all-time highs around midday Friday. The Dow Jones Industrial Average traded 27 points higher.

For the week, the S&P 500 and Nasdaq were headed for solid gains. The two indexes were up 1.6% and 2.2% week to date, respectively. The Dow is up 0.1% this week.

Alphabet reported better-than-expected earnings Thursday and announced a massive $25 billion share repurchase program. The results and buyback sent the stock up 10.4%.

Twitter shares gained more than 8% on the back of second-quarter results that topped estimates. The social media company also reported a 14% rise in monetizable daily active users.

Source: CNBC


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