Nasdaq MSFT MicroSoft

The tech-heavy Nasdaq advanced on Wednesday as strong Microsoft Corp results partially offset concerns over rising interest rates and their effect on the U.S. economy.

The SPDR S&P 500 ESG ETF is seeing unusually high volume in afternoon trading Wednesday, with over 1.0 million shares traded versus three month average volume of about 67,000. Shares of EFIV were off about 0.1% on the day.

In early trading on Wednesday, shares of Datadog topped the list of the day's best performing components of the Nasdaq 100 index, trading up 14.8%. Year to date, Datadog has lost about 2.1% of its value.

In early trading on Wednesday, shares of Microsoft topped the list of the day's best performing Dow Jones Industrial Average components, trading up 7.1%. Year to date, Microsoft registers a 23.0% gain.

There has been no shortage of media hoopla surrounding generative AI this year. Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) long dominance of internet search is seemingly being challenged by Microsoft's (NASDAQ: MSFT) investment in ChatGPT and the subsequent infusion of its Bing sea

Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the Philadelphia Semiconductor index adding 0.5%.

Fintel reports that on April 26, 2023, Credit Suisse maintained coverage of Microsoft (NASDAQ:MSFT) with a Outperform recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Morgan Stanley maintained coverage of Microsoft (NASDAQ:MSFT) with a Overweight recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Rosenblatt maintained coverage of Microsoft (NASDAQ:MSFT) with a Buy recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Piper Sandler maintained coverage of Microsoft (NASDAQ:MSFT) with a Overweight recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Raymond James maintained coverage of Microsoft (NASDAQ:MSFT) with a Outperform recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Citigroup maintained coverage of Microsoft (NASDAQ:MSFT) with a Buy recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, RBC Capital maintained coverage of Microsoft (NASDAQ:MSFT) with a Outperform recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Wedbush maintained coverage of Microsoft (NASDAQ:MSFT) with a Outperform recommendation. Analyst Price Forecast Suggests 11.42% Upside

What happened Shares of Microsoft (NASDAQ: MSFT) charged sharply higher Wednesday morning, surging by as much as 8.8%. As of 12:44 p.m. ET, the stock was still up by 8.3%.

Britain said it would block Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard over its concerns it would hinder competition in cloud gaming.

Global stock markets were mixed on Wednesday as recession fears and banking sector strain weighed on European stocks and the dollar while Wall Street stock futures firmed on bullish updates from Microsoft and Google parent Alphabet.

After a steady pullback in the stock market last year, 2023 has been a confusing time for investors. Stocks have posted gains for the year, with the Nasdaq even up 15% year to date at recent prices, but the economy still seems to be slinking toward a recession, and stocks remain

Fintel reports that on April 26, 2023, Stifel maintained coverage of Microsoft (NASDAQ:MSFT) with a Buy recommendation. Analyst Price Forecast Suggests 11.42% Upside

Fintel reports that on April 26, 2023, Wolfe Research maintained coverage of Microsoft (NASDAQ:MSFT) with a Outperform recommendation. Analyst Price Forecast Suggests 11.42% Upside