S&P 500 Gains and Losses Today: Resmed Soars Amid Strong Demand for Sleep Devices [Video]

Although the latest Personal Consumption Expenditure (PCE) data showed inflation persisting in March, strong earnings reports from several big tech firms helped major U.S. equities indexes pop higher on Friday.

The S&P 500 jumped 1.0% in the week’s final trading session. The Nasdaq soared 2.0%, while the Dow was up 0.4%.

Resmed (RMD) shares led the S&P 500 higher, skyrocketing 18.9% after the health care technology company posted better-than-expected quarterly revenue and earnings results. Demand for Resmed’s products remained strong, particularly its sleep devices, and the company refuted concerns that the growing use of weight-loss drugs could subdue sales.

Google parent company Alphabet (GOOGL) beat first-quarter sales and profit estimates, and its shares jumped 10.2%. The CEO highlighted Alphabet’s YouTube, search, and cloud businesses as drivers of the strong performance. Alphabet also announced its first-ever dividend and approved a massive stock buyback program. Alphabet Class C (GOOG) shares were up 10.0%.

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