{"id":118896,"date":"2021-07-28T19:36:13","date_gmt":"2021-07-28T19:36:13","guid":{"rendered":"https:\/\/fin2me.com\/?p=118896"},"modified":"2021-07-28T19:36:13","modified_gmt":"2021-07-28T19:36:13","slug":"google-lifts-nasdaq-as-focus-turns-to-fed","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/google-lifts-nasdaq-as-focus-turns-to-fed\/","title":{"rendered":"Google lifts Nasdaq as focus turns to Fed"},"content":{"rendered":"<p>(Reuters) &#8211; The technology-heavy Nasdaq rose on Wednesday on strong earnings from Google-parent Alphabet, as investors turned to the Federal Reserve to gauge the impact of rising inflation and the Delta variant on its monetary stimulus.<\/p><figcaption>FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013.  REUTERS\/Carlo Allegri\/File Photo<\/figcaption><p>Alphabet Inc shares rose 3.8% to an all-time high as a surge in advertising spending helped it post record quarterly results, although the Nasdaq\u2019s gains were capped by a forecast of slowing revenue growth from Apple Inc.<\/p>\n<p>Wall Street\u2019s main indexes have scaled record highs this month on hopes of stellar corporate results amid a broader economic recovery, but the pace of gains has slowed recently due to a deepening regulatory crackdown in China and fears of a quicker-than-expected tapering of monetary policy.<\/p>\n<p>All eyes on Wednesday will be on the outcome of the Fed\u2019s two-day meeting, with investors looking for comments on how the double whammy of rising inflation and a spike in COVID-19 cases would impact the central bank\u2019s plan to potentially start withdrawing its stimulus.<\/p>\n<p>\u201cThe case for delaying any exit from stimulus has been enhanced by recent market moves,\u201d said Art Hogan, chief market strategist at National Securities in New York.<\/p>\n<p>\u201cThe yield on the 10-year Treasury note has fallen since the Fed last met in mid-June, along with market measures of inflation expectations as the perceived threat of the Delta variant to worldwide growth has become the new investor narrative.\u201d<\/p>\n<p>The June reading of the personal consumption expenditures price index &#8211; the Fed\u2019s main inflation measure &#8211; is due on Friday.<\/p>\n<p>The Nasdaq Composite was up 0.64% by 12:05 p.m. ET, after posting its worst session in more than two months on Tuesday.<\/p>\n<p>The Dow Jones Industrial Average was down 0.16%, shrugging off a 5.3% jump in Boeing Co following the company\u2019s first quarterly profit in almost two years.<\/p>\n<p>The benchmark S&amp;P 500 was up 0.07%.<\/p>\n<p>(Graphics: Alphabet, Facebook lead tech behemoths in 2021: )<\/p>\n<p>Microsoft Corp edged 0.3% higher as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.<\/p>\n<p>Facebook Inc, which competes with Google in web ad sales and is slated to report results late on Wednesday, rose 1.1%.<\/p>\n<p>Focus will also be on after-market results from chipmaker Qualcomm Inc after Apple said on Tuesday chip shortages would start to bite into its mainstay iPhone business in the current quarter.<\/p>\n<p>\u201cWe need to get more visibility into chip shortages,\u201d said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.<\/p>\n<p>\u201cSo many of the top companies have a component of technology, and even Google, while it did not talk about chip shortages, they\u2019re always rebuilding their data centers.\u201d<\/p>\n<p>In other sectors, Starbucks Corp fell 2.8% after it lowered its fiscal 2021 forecast for China sales growth, while Pfizer Inc added 3.1% as it raised its outlook for full-year sales of its COVID-19 vaccine.<\/p>\n<p>Advancing issues outnumbered decliners 1.53-to-1 on the NYSE and 2.07-to-1 on the Nasdaq.<\/p>\n<p>The S&amp;P index recorded 40 new 52-week highs and no new low, while the Nasdaq recorded 34 new highs and 53 new lows.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/usa-stocks\/us-stocks-google-lifts-nasdaq-as-focus-turns-to-fed-idUSL4N2P43ED\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; The technology-heavy Nasdaq rose on Wednesday on strong earnings from Google-parent Alphabet, as investors turned to the Federal Reserve to gauge the impact [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":118895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Google lifts Nasdaq as focus turns to Fed - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/google-lifts-nasdaq-as-focus-turns-to-fed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Google lifts Nasdaq as focus turns to Fed - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) &#8211; 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