Big Tech surge props up Wall Street, though caution reigns

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NEW YORK (AP) — Big Tech continues to steamroll through the pandemic, but much of the rest of Wall Street is struggling on Friday, leaving stock indexes mixed.

The S&P 500 was 0.1% higher at midday after flipping from small gains to losses in the first hour of trading. Stocks that most need the economy to reopen had the sharpest losses, such as in the travel industry.

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Energy stocks were also particularly weak.

The market’s losses would have been even steeper if not for continued gains for Amazon, Apple and Facebook, which reported much stronger results for the spring than Wall Street expected.