Oct 27, 2017

Wall Street: Tech firm surge pushes US markets higher

The Nasdaq surged 2.2%, adding 144.49 points to close at 6,701.26. US markets have rallied this year, driven in part by a rise in major tech stocks. On Friday, the Commerce Department reported stronger-than-expected 3% growth in the third quarter, adding to market optimism. Shares in Amazon jumped by than 13%, after it said third quarter sales increased 34% to $43.7bn. Alphabet shares jumped more than 4% after the firm said third quarter revenue climbed 24% to $27.8 billion. The gains masked stumbles for some companies - even in the tech sector.

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