Big Tech surge props up Wall Street, though caution reigns
By STAN CHOE AP Business Writer
NEW YORK (AP) — Strong gains for Big Tech stocks are helping to prop up Wall Street in early Friday trading following blowout profit reports from some of the market’s most influential companies. The S&P 500 was 0.1% higher, on track to close out its fourth straight winning month. Despite the steadiness, caution was still clearly present across markets as the pandemic continues to cloud the economy’s prospects. The 10-year Treasury yield hovered close to its lowest level since it dropped to a record low in March. Gold also briefly rose above $2,000 per ounce, while nearly three out of four stocks in the S&P 500 were lower.