Stock market today: Nasdaq secures record close as Alphabet kicks off Big Tech earnings

Published On Oct 29, 2024, 4:02 PM

The Nasdaq composite has reached a record closing high as investors anticipate earnings results from major tech companies, beginning with Alphabet (Google's parent company). This positive momentum reflects growing optimism in the tech sector, buoyed by strong performances from other leading companies in recent days. Alphabet is set to reveal its earnings soon, which will be closely watched by the market.

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Stock Forecasts

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Positive

Given the positive performance and expectations surrounding the upcoming earnings reports from tech companies, particularly Alphabet, it is likely that stocks in this sector will continue to perform well in the short term. As Alphabet is a significant player in the technology industry, its earnings report could significantly influence investor sentiment and stock prices across the sector.

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Positive

As tech stocks generally move together, ETFs that focus on technology such as the Invesco QQQ ETF, which tracks the Nasdaq-100 index, could benefit from the anticipated positive earnings results from major tech companies.

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