The information technology index was a leading gainer among the S&P 500 sectors. Among other growth stocks, Apple and Microsoft advanced, as did Alphabet and Tesla. According to preliminary data, the S&P 500 gained 46.47 points, or 0.80%, to end at 5,861.50 points, while the Nasdaq Composite gained 159.70 points, or 0.87%, to 18,502.64. The S&P 500 is trading at 21.8 times forward earnings, versus a long-term average of 15.7. Photo / Eduardo Munoz Alvarez, Getty Images, FileYear-over-year third-quarter earnings growth for the S&P 500 is estimated at 4.9%, according to data compiled by LSEG on Friday.

Source: New Zealand Herald October 15, 2024 15:12 UTC