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Tech stocks propell Wall Street

Friday, October 27, 2017 - 01:10

The Nasdaq surged on blowout earnings from Microsoft, Amazon and Alphabet. The S&P technology index has gained about 30 percent this year. Jade Barker reports.

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Positive results from Microsoft, Amazon and Alphabet pushed the Nasdaq and the S&P higher, adding to tech rally this year. Microsoft beat Wall Street on strong demand for its cloud computing services. Amazon's sales surged. Shoppers jumped at "Prime Day" promotions. They also bought groceries at Amazon's Whole Foods Market. Alphabet showed torrid growth in advertising. Jane Barratt, founder & CEO of GoldBean. (SOUNDBITE) JANE BARRATT, FOUNDER & CEO, GOLDBEAN (ENGLISH) SAYING: "It is an extremely hot sector. They have been performing well, it's not completely undeserved, but there is... they really have taken the lion's share of the attention, they're getting the lion's share of the press. And, I think, investors are seeing great returns from them. And, so, you know, there's still incredible interest, even with Amazon up so much today, you know there's still incredible interest from the market in terms of, I think, there's still plenty more in the short time to come." The S&P technology index has gained about 30 percent this year. That's double the gains in its broader counterpart.

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Tech stocks propell Wall Street

Friday, October 27, 2017 - 01:10