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Two technology giants, Microsoft and Amazon, reported results after the stock market closed Thursday. Both beat analysts' expectations. Amazon rose 5 percent and Microsoft jumped 6.5 percent in after-market trading. Wall Street also had some positive news out of China. A Chinese manufacturing index rose to a seven-month high in October, suggesting continued momentum for the rebound in the world's second-biggest economy. With the S&P 500 trading near a record high and corporations finding it difficult to increase their sales, several market watchers have said they aren't sure how much further stocks can go from here. There are signs that stocks are getting expensive. Investors are currently paying more than $16 for every $1 of earnings in the S&P 500, up from $14 at the beginning of the year. "We're at this stage where we need to start to see the fundamentals improve," said Quincy Krosby, a market strategist with Prudential Financial. In other corporate news: Visa rose $4.02, or 2 percent, to $202.91. The payment processing company raised its quarterly dividend by 21 percent to 40 cents per share. Xerox plunged $1.12, or 10 percent, to $9.61 after the company cut its full-year outlook and missed analysts' estimates.
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