Stocks rise for fourth day, Google surges 7%

Google announced a 20-for-1 stock split to attract more investors

U.S. stocks rose Wednesday as large-cap tech took the lead after Google and AMD's strong quarterly results. 

The Dow Jones Industrial Average tacked on 224 points or 0.6%, while the S&P 500 and Nasdaq rose 0.5% and 0.9%, respectively. All three of the major averages rose for a fourth straight session.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33212.96 +575.77 +1.76%
SP500 S&P 500 4158.24 +100.40 +2.47%
I:COMP NASDAQ COMPOSITE INDEX 12131.131075 +390.48 +3.33%

The gains came even after U.S. companies unexpectedly shed 301,000, according to ADP, which is viewed as a precursor to the monthly government report due Friday, which is expected to signal job creation of 153,000 roles. 

US COMPANIES UNEXPECTEDLY SHED 301,000 JOBS

Shares of Alphabet, parent of Google, surged over 7% after revenue topped $72 billion and the company announced a 20-for-1 stock split. 

Ticker Security Last Change Change %
GOOGL ALPHABET INC. 2,246.33 +90.48 +4.20%

AMD also rose 5% after revenue jumped 49% to $4.8 billion, exceeding estimates. Other chipmakers rose in tandem, including Qualcomm, Nvidia and Xilinx. 

Ticker Security Last Change Change %
AMD ADVANCED MICRO DEVICES INC. 102.26 +3.51 +3.55%
QCOM QUALCOMM INC. 139.76 +4.92 +3.65%
NVDA NVIDIA CORP. 188.11 +9.60 +5.38%

General Motors slipped even after profits rose 56% helped by higher car prices as the supply chain crisis ramps up costs. 

Ticker Security Last Change Change %
GM GENERAL MOTORS CO. 38.57 +1.15 +3.07%
F FORD MOTOR CO. 13.62 +0.49 +3.73%

After the close of trading, Meta Platforms, formerly Facebook, will report earnings. 

Ticker Security Last Change Change %
FB META PLATFORMS INC. 195.13 +3.50 +1.83%

PayPal fell after its guidance disappointed Wall Street, partner eBay is transitioning to a managed payments system of its own, a move that cost PayPal $1.4 billion the company disclosed. 

Ticker Security Last Change Change %
PYPL PAYPAL HOLDINGS INC. 85.21 +4.79 +5.96%

CNN President Jeff Zucker resigned for failing to disclose a relationship with a co-worker. AT&T, which owns the cable channel via WarnerMedia, inched higher. 

Ticker Security Last Change Change %
T AT&T INC. 21.29 -0.03 -0.14%

In commodities, oil topped $89 per barrel before settling at $88.26 per barrel. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 85.46 +0.87 +1.03%

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In cryptocurrencies, Bitcoin was range bound between $37,000 and $38,000. 

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The Associated Press contributed to this report.