Investing.com – Technology stocks drove the S&P 500 and Nasdaq higher Thursday thanks to big earnings beats from key stocks, including Microsoft (NASDAQ:) and Tesla (NASDAQ:).
The rose 0.19%. The index added 0.81% and the index rose nearly 1%. The ended down 0.1% after falling as many as 120 points early in the session.
Microsoft (NASDAQ:), PayPal Holdings (NASDAQ:), Tesla (NASDAQ:) and Amazon.com (NASDAQ:) were responsible for more than 40 points of the Nasdaq-100’s 70-point gain. The first three reported either late Wednesday or Thursday.
Amazon shares fell nearly 7.7% after hours after the close when third-quarter earnings per share came in a $4.23. The consensus estimate from analysts tracked by Investing.com was $4.59.
Intel (NASDAQ:) shares, however, jumped 8% after third-quarter earnings of $1.42 beat the estimate of $1.23.
Microsoft (NASDAQ:) also added nearly 18 points to the , which was held back primarily by a weak earnings report from 3M (NYSE:).
Twitter (NYSE:) shares, however, dropped nearly 21% as earnings badly missed Wall Street estimates.
It was a busy day for markets, which experienced the heaviest day of third-quarter earnings reports.
In addition, Vice President Mike Pence, in a speech today, criticized the National Basketball Association for failing to back protesters in Hong Kong. There was a worry about how his remarks, which were a defense of the protestors, would affect the ongoing U.S.-China trade talks.
Nonetheless, the market tone was better that what the numbers said. No fewer than 162 stocks hit 52-week highs, including Apple (NASDAQ:), Applied Materials Inc (NASDAQ:), JPMorgan Chase (NYSE:) and recreational vehicle maker Winnebago (NYSE:).
Oil prices moved higher, as did gold. Interest rates were modestly higher,
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