Amazon.com Inc.’s stock surged 1.4% in midday trade, to push the e-commerce giant’s market-capitalization past Google-parent Alphabet Inc.’s in intraday trade, which would make Amazon the second largest U.S. company. Amazon’s market-cap was $758.26 billion, while Alphabet’s stock fell 1.3% to knock the internet-search giant’s market cap down to $755.35 billion. Apple Inc. is still by far the biggest U.S. company, with the stock up 0.1% to lift its market cap to $890.44 billion. Amazon’s stock has soared 34% year to date, while Alphabet shares have gained 3.3% and the S&P 500 has tacked on 1.4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News