X

Tech Companies Lead Stock Rally

Dow ends day up 33
By Newser Editors and Wire Services
Posted Oct 27, 2017 3:21 PM CDT

(Newser) – Technology companies are leading a stock market rally on Wall Street Friday as investors applaud third-quarter reports from big names including Microsoft and Google's parent company Alphabet, the AP reports. Investors also cheered a report Friday that showed the US economy grew by a stronger than expected 3% in the third quarter. Microsoft rose 7.3% and Alphabet jumped 4.8%. Online retailer Amazon soared 13.6%. Traditional retailers plunged after department store JC Penney cut its forecasts. It fell 14.8% and Macy's lost 7.7%. The Standard & Poor's 500 index gained 20 points or 0.8%, to 2,581. The Dow Jones industrial average rose 33 points, or 0.1%, to 23,434. The Nasdaq composite soared 144 points, or 2.2%, to 6,701. (Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X