Big Changes in Stock Market: Google's Slip, Microsoft's Rise
Stock market sees shifts: Google falters, Microsoft excels. The tech sector faces challenges. Deutsche Bank surprises with profits.
Today, in the world of stocks, there were some interesting moves. Google's parent company, Alphabet, didn't do as well as expected, and their stocks went down by more than 8%. On the other hand, Microsoft had a great day. Their stocks went up by 4% after they did really well in their earnings report.
The Dow Jones, which shows how well big companies are doing, went up a little bit, about 0.2%. But the S&P 500, which looks at 500 big companies, went down by 0.6%. The Nasdaq, which focuses on tech companies, went down by more than 1%.
Some other really big companies like Amazon and Meta (which owns Facebook) didn't have such a good day. Their stocks went down by about 3%. Meta will tell everyone how they did after the stock market closes today.
Tech companies, especially, had a bit of a tough time. This is because interest rates, which are like the price of borrowing money, went up. When rates go up, it can make it harder for tech companies to do well in the stock market.
One more interesting thing happened today. Shares in Deutsche Bank, a big bank in Germany, went up by almost 7% after they made more money than people thought they would. This is good news for the bank and for the financial world.
So, today was a day with some ups and downs in the stock market. Big tech companies had a bit of a rough time, but some surprises, like Microsoft's success and Deutsche Bank's good news, added some excitement to the day.
Also Read: Big Tech Earnings Impact Stock Futures: Nasdaq Dips; Alphabet Faces Setback
