Tech stocks powered the markets higher to record levels on Friday. As Fred Katayama reports, the big three indexes made major strides in the quarter.
Tech stocks powered the S&P 500 and Nasdaq to record highs on the last trading day of September. The major indexes all made big gains in the third quarter. Fiduciary Trust's Carin Pai: SOUNDBITE: CARIN PAI, EXECUTIVE VICE PRESIDENT, FIDUCIARY TRUST COMPANY, (ENGLISH) SAYING: "There's a little bit of anticipation that's pricing into the market in terms of making bets that there may be tax reform coming to bear because just recently, we started to see the so-called 'Trump basket' do better. Small cap stocks certainly benefiting from that." KB Home shares jumped. The homebuilder's profit and revenue topped analysts' estimates. Roku's shares continued to soar on heavy volume the day after it debuted on the Nasdaq. The video streaming company's shares rose 68 percent Thursday. Amazon shares increased. Analystics firm One Click Retail says the e-commerce giant sold about $1.6 million in Whole Foods' store-brand products in the first month since taking over the organic grocery chain. In Europe financials led a broad-based rally that drove the markets higher.