The main feature in today's action actually began in the after-hours session yesterday, when massive earnings beats were released by the likes of Microsoft, Alphabet (Google), and Amazon, among others. Strong revenue across the board led to a surge higher in the tech-heavy Nasdaq, which gained an impressive 2.2% today.
Also of note, the preliminary reading on Q3 GDP was released and came in above expectations, at 3%. This was somewhat surprising considering that hurricanes temporarily shut down major areas of the U.S.
Altogether it was a strong day as the Industrials gained 33 points, the Transports climbed 0.51%, and the S&P 500 rose a substantial 0.81%. As mentioned, the Nasdaq was the big winner, as it reaped the benefits from the large-cap tech names.
Overseas markets were also happy, as most of Europe, with the exception of Italy and Spain, moved higher. The Stoxx 600 rose 0.55%. In Asia, nearly all markets also posted ... Log in or subscribe to continue reading.