The S&P 500 Index ($SPX) (SPY) Friday closed up +1.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.40%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.65%.
US stock indexes rallied Friday, with the S&P 500 posting a 1-1/2 week high and the Nasdaq 100 posting a 1-week high. Blockbuster earnings results from Alphabet and Microsoft boosted the overall market Friday. Alphabet closed up more than +10% after reporting stronger-than-expected Q1 revenue. Also, Microsoft closed up more than +2% after reporting Q3 revenue above consensus. In addition, chip stocks rallied Friday after megacap tech companies this week, including Meta Platforms, Alphabet, and Microsoft said they will continue to boost investment in AI, which should increase demand for companies making AI chips.
