The NASDAQ hit a record high today, up over 30 points as of 12:15 p.m. ET, catching a tailwind of positive second-quarter earnings from Google-parent company Alphabet.
The Dow Jones Industrial Average also climbed over 200 points today with United Technologies and DowDupont Inc leading the rally. Meanwhile, the S&P 500 also caught the positive vibes in the other indices, posting its own gain of 18 points with Avery Dennison Corp and Harley-Davidson Inc leading the way.
Alphabet smashed analyst expectations of $9.59 earnings per share for its second quarter with $11.75. Shares of Alphabet were up 3.77% as of 12:15 p.m. ET.
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“Alphabet delivered strong top line results, again proving that its increased investments are paying off,” said J.P. Morgan analyst Doug Anmuth. “Investments in machine learning & AI are driving innovation throughout Alphabet’s businesses, including mobile search, cloud, Google Home, Assistant, Waymo, etc.”