Nasdaq Hits Record as Alphabet Jumps in Late Hours: Markets Wrap
- Alphabet exceeeds sales estimates on Google cloud growth
- Bitcoin on the verge of topping all-time high reached in March
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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.