Friday, 29 July 2016

Wall Street edges up; Alphabet and Amazon rise After the Bell

Wall Street edged higher on Thursday as investors looked beyond disappointing earnings from Ford and bought shares in Apple, while Alphabet surged after the bell following its quarterly report. It was the 10th session of range-bound trading, following a sharp rally in late June and early July that hit record highs and has left the S&P 500 up 6 percent for the year. 

In extended trade, Alphabet jumped 4 percent after the Google parent-company reported stronger-than-expected revenue. (AMZN.O) rose 1.7 percent after its quarterly report. "Tech has been pretty much the strongest sector over the last month. 

Momentum players are focusing to buy on pullbacks," said Michael Matousek, head trader at US Global Investors in San Antonio. Earlier, Apple rose 1.35 percent, giving the S&P 500 its biggest lift.

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