What Earnings Slump? Tech Giants Power Stocks to Highs in Week
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What was billed as the worst earnings season in five years is jumpstarting a U.S. equities market that had been stuck in neutral for two months.
Better-than-forecast results from technology giants including Microsoft Corp., International Business Machines Corp. and Amazon.com Inc. helped push the Nasdaq Composite Index past a 15-year record while the Standard & Poor’s 500 Index closed at an all-time high. Equity gauges climbed to new heights after fluctuating within a range since early March amid concerns that a stronger dollar and lower oil prices would hurt earnings.