Nasdaq Hits Record as Alphabet Jumps in Late Hours: Markets Wrap

A rally in some of the largest tech companies pushed stocks higher, with Alphabet Inc. rising in late hours as earnings beat estimates.

The Nasdaq Composite hit an all-time high, while the S&P 500 saw a mild gain. Between Tuesday and Thursday, big techs with a combined market value of more than $12 trillion report their quarterly results. Shares of Google’s parent climbed 3.5% after the close of regular trading. Advanced Micro Devices Inc. sank 6% amid a lackluster revenue forecast.

Alphabet kicks off this week’s big tech earnings.

Source: Bloomberg

“Investors will need to see bigger revenue and earnings surprises for the group to outperform,” said Chris Senyek ...