Markets Right Now: Stocks open broadly higher on Wall Street
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are opening broadly higher on Wall Street and communications companies are leading the way following a huge earnings beat from Google’s parent company, Alphabet.
Alphabet soared 10.8% in early trading Friday. The company reported earnings late Thursday that blew past analysts’ forecasts as YouTube and the company’s enterprise cloud business delivered strong results.
Twitter also jumped 8.8% after reporting a strong quarter, but online retail giant Amazon slipped 2.2% after reporting a rare earnings miss as the company ramps up spending on faster deliveries.
The S&P 500 index rose 13 points, or 0.5% to 3,017.
The Dow Jones Industrial Average rose 30 points, or 0.1%, to 27,168. The Nasdaq rose 73 points, or 0.9%, to 8,312.
The yield on the 10-year Treasury held steady at 2.07%.