TECH STOCKS: A Big Finish - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance

TECH STOCKS: A Big Finish

A rosy outlook from Microsoft sent traders home for the weekend on a positive note.

A rosy outlook from Microsoft provided further encouragement Friday to Wall Street investors, who were looking for bargains following three days of stock-market declines. Microsoft missed earnings projections, but higher-than-expected revenue for its fourth quarter and an improved outlook for its new fiscal year were all Wall Street needed. "Microsoft is setting the tone. People were looking for that big giant to say something good, and they did," Todd Clark, head of listed equity trading at Wells Fargo Securities, told The Associated Press.

The Dow Jones saw the biggest boost, with stocks rising 137.33 points, or 1.5%, to 9,188.15, while the S&P 500 rose 11.59 points, or 1.2%, to 993.32. The Nasdaq rose 10.48 points, or 0.6%, to 1,708.50, and the Nasdaq-100 index rose 10 cents, or 0.3%, to $31.28. More than 80 million shares changed hands. The InformationWeek 100 rose 2.69 points, to 252.58, up 1.1%

But Friday's gains weren't enough to overcome the week's damage to tech stocks. The InformationWeek 100 was down 4.1% for the week, the Nasdaq was down 1.5%, and the Nasdaq-100 was down 1.7 cents for the week. The blue chips were winners for the week, with the Dow closing up 0.8% and the S&P 500 up 0.5%.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Commentary
Where Cloud Spending Might Grow in 2021 and Post-Pandemic
Joao-Pierre S. Ruth, Senior Writer,  11/19/2020
Slideshows
The Ever-Expanding List of C-Level Technology Positions
Cynthia Harvey, Freelance Journalist, InformationWeek,  11/10/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll