US Stock Market Today: S&P 500, Nasdaq Hit Fresh Record Highs After Upbeat Alphabet Earnings

Wall Street's S&P 500 and Nasdaq Composite surged to a fresh all-time high on Thursday, following upbeat quarterly earnings reported by Google-parent Alphabet.

The S&P 500 rose 0.2% to 6,371.9, whereas the Nasdaq Composite climbed 0.42% to 21,107.83.

The Dow Jones Industrial Average, however, slipped 289.39 points, or about 0.64%, as of 7:30 p.m. IST.

The recent quarter was strong almost across the board for Alphabet, reported Bloomberg, with sales, excluding partner payouts, climbing to $81.7 billion. They topped projections of $79.6 billion on average, according to data compiled by Bloomberg.

The Google parent's revenue grew 14% annually, and profit increased to $28.20 billion, up nearly 20% from the previous year.

Shares of Nvidia Corp, Apple Inc., Alphabet Inc., and Lockheed Martin Corp. contributed to the rally while those of Tesla Inc., Intel Inc., and UnitedHealth Group declined.

Eight out of the 11 S&P 500 sectoral indices were trading in the green, while three edged lower against the previous day's close. The Consumer Discretionary sector along with Materials and Energy sectors were the laggards on the index.

Spot gold was trading 0.51% lower at $3,369.85 an ounce, and Brent crude oil was trading 0.93% higher at $69.15 per barrel.

The Bloomberg Dollar Index was little changed. The British pound tarding 0.18% at $1.3558, along with the Japanese yen at 146.39 per dollar.

Bitcoin, the largest traded cryptocurrency, fell marginally to $117,949.89.