Alphabet's Gain, Microsoft's Drop Leave Nasdaq in Limbo
It's easy to think of the Nasdaq Composite (NASDAQINDEX: ^IXIC) as being primarily reliant on the popular tech giants known as FAANG stocks . Certainly, big-name technology companies have a lot of weight in moving the Nasdaq, and their behavior can have a large impact on many other businesses across the market.
At first glance, Wednesday might seem like a quiet day for the Nasdaq, with the Composite down less than 0.2% on the day as of 2 p.m. EDT. Yet it was actually a momentous day for the exchange as Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) had major impacts on the benchmark, albeit in opposite directions. Below, we'll look at what Alphabet and Microsoft said and what it means for the broader economy and stock market.
Shares of Alphabet were up more than 4% Monday afternoon. The online search and cloud-computing company got good results from its core business during the first quarter.
Source Fool.com
