Alphabet and Microsoft help Wall Street clinch its best week in nearly 6 months
A trader works on the floor of the New York Stock Exchange shortly after the opening bell, Wednesday, April 24, 2024, in New York. (AP Photo/Mary Altaffer)
NEW YORK (AP) — The best week for U.S. stocks since November closed out with more gains thanks to Alphabet and Microsoft on Friday.
The S&P 500 rallied 1% to finish its first winning week in the last four. The Dow Jones Industrial Average rose 153 points, or 0.4%, and the Nasdaq composite jumped 2%.
Alphabet leaped 10.2% after breezing past analysts' expectations for profit last quarter. The parent company of Google also said it will start paying a dividend to investors and authorized a program to buy back up to $70 billion of its stock, a signal of how much cash it's generating.
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