Nasdaq Today: Big Tech Goes to Washington (Virtually)
The market rallied today after the Federal Reserve said it would keep interest rates at historic lows in an effort to stimulate economic activity during the COVID-19 pandemic. The Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 141 points, or 1.4%.
The headline news today is that Apple (NASDAQ: AAPL) CEO Tim Cook, Amazon.com (NASDAQ: AMZN) CEO Jeff Bezos, Facebook (NASDAQ: FB) CEO Mark Zuckerberg, and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) CEO Sundar Pichai testified in front of the House Judiciary antitrust committee in a highly anticipated hearing that was delayed from Monday.
The chief executives all attended the hearing virtually due to COVID-19. Pichai serves as CEO of both Google and parent company Alphabet, but the discussion focused primarily on Google's business. This is the first time that Bezos has ever testified in front of Congress.
Source Fool.com
