Big technology stocks rise in midday trading; Amazon soars
NEW YORK (AP) — Big gains by Amazon and Google are lifting technology stocks.
Amazon soared 15 percent in midday trading Friday after revealing details about its cloud computing service for the first time. Google and Microsoft also rose after reporting their latest quarterly results.
The Nasdaq composite index rose more than the rest of the market. The Nasdaq gained 40 points, or 0.8 percent, to 5,095 as of 11:45 a.m. Eastern time.
The gain came a day after the index beat its record-high close from 2000 at the height of the dot-com boom.
The Dow Jones industrial average rose 14 points, or 0.1 percent, to 18,072.
The Standard & Poor’s 500 rose four points, or 0.2 percent, to 2,117.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.91 percent.