NEW YORK/BENGALURU (Feb 2): US stock indexes jumped more than 1.5% on Tuesday, with Amazon and Google-parent Alphabet set to wrap up results from the so-called FAANG group of stocks, while signs on progress on a large fiscal pandemic relief package also lifted the mood.
Alphabet, which will report the cost and operating profit of its Google Cloud business for the first time, added 1.5%, while retail behemoth Amazon.com Inc rose 1.4%.
Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1.4%. There s no reason to think that the strength of earnings on the part of big tech is likely to diminish until perhaps later in the year and certainly the fourth quarter was likely to be a good one, said Julian Emanuel, chief equity and derivatives strategist at BTIG.
Wall St jumps for 2nd day; Amazon says Bezos to step down from CEO role
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Last Updated: Feb 03, 2021, 06:33 AM IST
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While Amazon.com Inc ended the regular session up 1.1%, the company shocked investors after the bell with news that Jeff Bezos would move to the role of executive chairman in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.
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Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1%.
Wall St. jumps ahead of Amazon, Alphabet results; stimulus in focus
By Devik Jain and Medha Singh
Reuters
(Reuters) - U.S. stock indexes jumped more than 1.5% on Tuesday with Amazon and Google-parent Alphabet set to wrap up results from the so-called FAANG group of stocks, while signs on progress on a large fiscal pandemic relief package also lifted the mood.
Alphabet, which will report the cost and operating profit of its Google Cloud business for the first time, added 1.5%, while retail behemoth Amazon.com Inc rose 1.4%.
Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1.4%.
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U.S. stock indexes rose on Tuesday, building on the previous session’s momentum, as investors anticipated strong results from Amazon and Google-parent Alphabet while also looking for signs of progress on a pandemic relief package.
Alphabet, which will report the cost and operating profit of its Google Cloud business for the first time, added 1.8 per cent, while retail behemoth Amazon.com Inc rose 1.6 per cent.
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Shares of both the companies, set to report their fourth-quarter earnings after market close, were among the top boosts to the S&P 500. The NYSE FANG+TM index firmed 1 per cent.
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(Reuters) - U.S. stocks finished sharply higher for a second straight day on Tuesday, helped by gains in Amazon.com and Google-parent Alphabet ahead of their results and by optimism over progress on a U.S. pandemic relief package.
FILE PHOTO: Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, NY, U.S., April 30, 2018. REUTERS/Brendan Mcdermid/File Photo
While Amazon.com Inc ended the regular session up 1.1%, the company shocked investors after the bell with news that Jeff Bezos would move to the role of executive chairman in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.