Alphabet, the company behind Google, recently announced its first dividend and saw a nearly ten percent increase in stock value on Wall Street. After about an hour of trading on the New York stock exchanges, the main stock indices were showing positive gains, with the S&P 500 up 1.1 percent, Nasdaq rising by about two percent, and the Dow Jones index increasing by half a percent.
Meanwhile, Microsoft’s share also rose by 2.6 percent after reporting results that exceeded analysts’ expectations. However, semiconductor manufacturer Intel’s share was down about 10.5 percent due to disappointing guidance.
In other sectors, oil companies Exxon Mobil and Chevron saw decreases in their stock values as investors were disappointed with their results. On Friday, macroeconomic data from the United States was released showing positive trends in private consumption and inflation levels.
Overall, these developments contributed to a sense of optimism in the market as various companies reported better-than-expected earnings and dividends were paid out.