Wall Street edges higher on Microsoft's beat, rate cut optimism
Friday, 19 July 2019 Wall Street's main indexes inched higher on Friday after solid results from technology giant Microsoft added to an upbeat mood following hints from a top Federal Reserve official that a U.S. interest rate cut could be imminent.
Microsoft reported its quarterly earnings on Thursday. Business Insider reports the company posted results that easily surpassed Wall Street estimates. Microsoft's earnings per share came in at $1.37, beating estimates of $1.21. Microsoft Azure saw its revenue grow 64% from the same period of 2018.