The Nasdaq Composite was higher Wednesday, with technology firms seeing their stocks gain after results from Microsoft and Alphabet set an upbeat tone for the start of Big Tech earnings. The Nasdaq was up 0.9% after the Big Tech duo both beat earnings expectations late Tuesday. Microsoft (ticker: MSFT) stock surged 6.9% as the tech giant’s [cloud revenue beat](https://www.barrons.com/articles/microsoft-earnings-stock-price-6707f617?mod=hp_LEAD_4_B_2) Wall Street estimates, and guidance for the current quarter also came in better than expected. Read More...
Reuters
Nasdaq climbs on strong Microsoft earnings, Boeing jumps
The tech-heavy Nasdaq advanced on Wednesday as strong Microsoft results offset concerns over rising interest rates and their effect on the U.S. economy, while an upbeat forecast from Boeing further boosted sentiment. Microsoft Corp climbed 7.0% after it beat estimates for quarterly results, and said that artificial intelligence products were stimulating sales, pushing information technology stocks more than 1% higher. Tracking a strong performance in Microsoft’s cloud segment, firms including Amazon.com, data analytics company Datadog, and data cloud giant Snowflake Inc advanced between 3.6% and 8.9%.
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