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Alphabet winner on quiet stock market

» Published: 10 December 2024

Alphabet winner on quiet stock market
Photo: Paul Sakuma/AP-TT

The leading indexes on the New York Stock Exchange moved only marginally on Tuesday. The broad S&P 500 index and the technology-heavy Nasdaq composite index both fell 0.3 percent, while the Dow Jones industrial index dropped 0.4 percent.

But software company Oracle had a bad day. The stock plummeted 6.7 percent after the company reported a quarterly report that did not quite meet analysts' forecasts. Oracle was one of the biggest losers in the S&P 500, despite CEO Safra Catz saying that demand for the company's AI products is record-high.

On the other hand, Google's parent company Alphabet went up 5.3 percent. Google presented a new quantum computer chip on Monday, which means that computers can work unimaginably much faster than today.

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By TTThis article has been altered and translated by Sweden Herald

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