Shares of Microsoft Corp. (MSFT) rose 0.7% and Alphabet Inc.'s stock (GOOGL) climbed 1.4% in morning trading Thursday, making then the first of the mega-capitalization technology companies to trade back above their respective 50-day moving averages (DMA). Microsoft's and Alphabet's stocks both first closed below their respective 50-DMAs, which many on Wall Street use as a guide to the short-term trend, on Sept. 28, which was Microsoft's first close below that key technical level since June 3 and Alphabet's first close below it since Jan. 15. Microsoft's 50-DMA currently extends to $294.56 and Alphabet's comes in at $2,784.92, according to FactSet. Meanwhile, Apple Inc. stock (AAPL) is 2.5% below its 50-DMA, Amazon.com Inc.'s stock (AMZN) is 1.5% below its 50-DMA and Facebook Inc.'s stock (FB) is 6.7% below its 50-DMA. The tech-heavy Nasdaq 100 , the S&P 500 and the Dow Jones Industrial Average are also still below their 50-DMAs.
(END) Dow Jones Newswires
October 07, 2021 10:03 ET (14:03 GMT)
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