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Wall Street opens higher with strong 3rd quarter growth

Wall Street opens higher with strong 3rd quarter growth
Microsoft, Amazon, Alphabet shares gain over 5 percent at first bell

By Ovunc Kutlu

NEW YORK (AA) - Indexes on Wall Street opened higher Friday with technology companies boasting strong earnings and the U.S. economy showing strong third quarter growth to beat expectations.

The Dow added 6 points to begin trading at 23,407 points, and the S&P 500 rose 8 points to start the day at 2,569 points.

The Nasdaq rallied by increasing 74 points to start trading at 6,630 points.

E-commerce giant Amazon saw its shares soar by 9 percent at the first bell. Microsoft and Google's parent company Alphabet saw their shares gain 7.7 percent and 5.4 percent, respectively.

The revenues of the three major companies in the third quarter of 2017 showed an increase ranging between 12 and 34 percent, according to their financial statements released on Thursday.

The American economy also showed strong growth in the third quarter by expanding 3 percent, according to the U.S. Department of Commerce earlier on Friday.

The market expectation for the third quarter was a 2.6 percent growth. The U.S. economy expanded by 3.1 percent in the second quarter of 2017.

source: News Feed
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