Why Amazon, Alphabet, and Microsoft All Rallied Thursday Morning
The stock market's unrelenting volatility is continuing this week. Wall Street has been unable to establish a consistent direction as investors weigh the impact of recent high-profile bank failures against the Federal Reserve's ongoing battle with inflation and the still-resilient U.S. job market. Despite the uncertainty, a broad cross-section of stocks rallied Thursday morning as investors digested the latest unemployment figures.
With these developments as a backdrop, as of 11:33 a.m. ET, Amazon (NASDAQ: AMZN) was up 1.8%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) had climbed 2.2%, and Microsoft (NASDAQ: MSFT) had climbed 2.9%,
A check of all the usual sources found nothing in the way of company-specific news that could have fueled investor enthusiasm in those particular tech giants, which suggests that traders are pondering what the latest developments mean for the state of the broader economy.
Source Fool.com
