Microsoft, Alphabet results raise hopes about Big Tech beating recession

Microsoft, Alphabet results raise hopes about Big Tech beating recession

REUTERS/Mike Blake/File Photo

Microsoft Corp and Alphabet Inc results sparked a relief rally on Wednesday in heavyweight technology and growth shares as investors expressed confidence in Big Tech‘s ability to navigate a recession.

High-growth and megacap companies have powered the U.S. stock market for the past decade, but rising interest rates to combat decades-high inflation as well as a recent sharp rally in the dollar have taken a toll on the stocks.

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