Why Alphabet Was Rising Today
Shares of tech giant Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) rose by about 2.7% on Friday.
The increase likely happened for two reasons. First, the Bureau of Economic Analysis released its latest report on the personal consumption expenditures price index, or PCE, which came in cooler than expected in February.
In addition, Alphabet Chief Financial Officer Ruth Porat sent a memo to employees outlining further steps the company was taking to reduce costs.
Source Fool.com
