(Reuters) – Wall Street is trading higher thanks to gains in some growth stocks and chipmakers, while stocks such as General Motors (NYSE:) and Spotify (NYSE:) jump after posting positive results, ahead of the quarterly reports of several Big Tech companies.
Around 4.15 pm Italian time, the exchange rate rose by 166.78 points, equal to 0.43%, to 38,403.63, gaining 44.86 points, or 0.9%, to 5,054.93, and the jump jumped by 166.85 points, equal to 1.1%, to 15,621.03.
Nine of the 11 main sectors of the S&P 500 are trading higher, in particular the telecommunications sector which gained 1.4%.
Some megacap stocks, including Meta Platforms, Microsoft (NASDAQ:) and Alphabet (NASDAQ:) gained between 1.4% and 2.4%.
The tech sector’s quarterly reports are expected this week, with Tesla (NASDAQ:) set to open the doors after the markets close.
Some chip-related stocks are also on the rise, with Nvidia, Micron Technology and Advanced Micro Devices rising around 2%.
Spotify gains 12.2% after reporting a quarterly gross profit of over one billion euros for the first time in its history.
(Translated by Enrico Sciacovelli, editing by Gianluca Semeraro)
Tags: stock market rises positive quarterly results push megacap stocks Reuters
