S&P post the best day to day performance since November
The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close.
The final numbers are showing:
- S&P index +52.37 points or 1.39% at 3826.24
- NASDAQ index up 209.38 points or 1.56% at 13612.77
- Dow industrial average rose 476.23 points or 1.58% at 30688.14
After the close, both Google and Amazon have beaten on the top and bottom lines. Alphabet shares are currently trading up 4.21% to near $2000 a share.
Alphabet had
- revenues of $56.90 billion vs. $53.13 billion estimate
- earnings-per-share came in at $22.30 cents vs. $15.90 cents estimate
For Amazon, CEO basis said that he will transition to role of executive chair. Andy Jassy will become the new CEO of Amazon. Jassy is a long time Amazon employee and built AWS. The announcement is a surprise. Amazon’s basals is to focus on new products and early initiatives according to the headline news.
Amazon shares are currently trading higher by about 1.3% and volatile trading.
For Amazon:
- Earnings-per-share came in at $14.09 vs. $7.34 estimate
- net sales came in at $125.56 billion vs. 119.70 billion