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    GOOGL   US02079K3059

ALPHABET INC.

(GOOGL)
  Report
Delayed Nasdaq  -  01:00 2022-11-25 pm EST
97.46 USD   -1.02%
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Wall St set to open higher as easing Treasury yields lift growth stocks

10/04/2022 | 08:46am EST

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.)

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Megacap growth and tech shares bounce 1.5% to 3%

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Tesla rebounds after worst selloff in four months

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Rivian jumps on reaffirming FY deliveries view; lifts peers

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Futures up: Dow 1.32%, S&P 1.59%, Nasdaq 1.89%

Oct 4 (Reuters) - Wall Street futures rose more than 1% on Tuesday as easing U.S. Treasury yields boosted megacap growth and technology stocks, while investors awaited more economic data to gauge the Federal Reserve's rate hike path.

Data on job openings and factory orders will be in focus after the market opens, a day after weaker-than-expected manufacturing activity showed rising rates taming demand for goods.

Yields on government bonds fell on hopes that the Federal Reserve tap down its aggressive stance, but Bank of New York President John Williams said despite nascent signs of cooling inflation, price pressures remain too high, implying the U.S. central bank must press forward.

"The biggest story here is that last week you saw the Bank of England blink and investors around the world are starting to realize that there are limits to central banks' hawkishness before things start to break," said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital.

"The market loves to see that (weakness in yields and dollar) and it sets up well going into earnings season with expectations so low at 3.2% earnings growth."

The yields on the 10-year U.S. Treasury extended their decline, lifting rate-sensitive growth and technology stocks in trading before the bell.

Megacap stocks such as Apple Inc, Microsoft Corp , Alphabet Inc and Nvidia Corp rose around 1.6% to 2.6%.

At 8:32 a.m. ET, Dow e-minis were up 389 points, or 1.32%, S&P 500 e-minis were up 58.5 points, or 1.59%, and Nasdaq 100 e-minis were up 213 points, or 1.89%.

Banks such as Wells Fargo & Co, JPMorgan Chase & Co and Bank of America Corp added nearly 2% each.

The rebound in stocks on the first trading day of the final quarter follows the S&P 500's lowest close in nearly two years on Friday that capped its worst monthly performance since March 2020.

Investors will continue to keep a close watch on comments from Fed speakers including New York President John Williams, Cleveland President Loretta Mester and Governor Philip Jefferson.

Rivian Automotive Inc jumped 7.6% after the electric-vehicle maker said it produced 7,363 units in the third quarter, 67% higher than the preceding quarter, and maintained its full-year target of 25,000.

Tesla Inc bounced back 2.9% from its steepest selloff in four months in the previous session that was triggered by disappointing quarterly vehicle deliveries. (Reporting by Medha Singh, Ankika Biswas and Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.02% 97.46 Delayed Quote.-32.72%
APPLE INC. -1.96% 148.11 Delayed Quote.-14.92%
MICROSOFT CORPORATION -0.04% 247.49 Delayed Quote.-26.39%
NVIDIA CORPORATION -1.51% 162.7 Delayed Quote.-44.68%
RIVIAN AUTOMOTIVE, INC. -0.61% 29.53 Delayed Quote.-71.52%
TESLA, INC. -0.19% 182.86 Delayed Quote.-48.09%
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Analyst Recommendations on ALPHABET INC.
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Financials (USD)
Sales 2022 283 B - -
Net income 2022 63 095 M - -
Net cash 2022 120 B - -
P/E ratio 2022 20,4x
Yield 2022 -
Capitalization 1 262 B 1 262 B -
EV / Sales 2022 4,03x
EV / Sales 2023 3,64x
Nbr of Employees 186 779
Free-Float 89,6%
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Technical analysis trends ALPHABET INC.
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 50
Last Close Price 97,46 $
Average target price 129,36 $
Spread / Average Target 32,7%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
John L Doerr Independent Director
Ann Mather Independent Director
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