Markets today: 'AI craze' powers best week in 2024 for stocks [BNN Bloomberg (Canada)]
Microsoft Corporation (MSFT)
Last microsoft corporation earnings: 4/29 04:06 pm
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Source: BNN Bloomberg
Equities notched their best week in 2024 after Microsoft Corp. and Google's parent Alphabet Inc. sent a clear message to investors: Our spending on artificial intelligence and cloud computing is paying off. That came as a positive signal for many traders wondering whether the main engine of the bull market would be able to live up to the high bar set for the industry. The latest results from large technology companies have reinforced the group's strong fundamentals, helping offset worries about the macroeconomic backdrop, according to Solita Marcelli at UBS Global Wealth Management. “With tech fundamentals staying robust, in particular from big tech in the first quarter, we continue to highlight the recent correction has provided interesting entry points for tech and AI-related stocks,” Marcelli said. The S&P 500 closed around 5,100, while the tech-heavy Nasdaq 100 climbed almost 2 per cent. The yield on 10-year Treasuries declined four basis points to 4.67 per cent. The dolar
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