Nasdaq Soars on Microsoft Azure Revenue Surge
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- Nasdaq soared while the Dow and S&P 500 rebounded, with Microsoft leading tech gains as Treasury yields rose to multiyear highs at the open.
- The Nasdaq posted its best day since June on a surge in Microsoft Azure revenue, lifting the broader tech sector.
Why it matters: Microsoft's Azure revenue strength is doing the heavy lifting for the entire Nasdaq, and with the index posting its best day since June, the single-stock dependence on Azure's momentum sets up outsized downside if those results cool next quarter.
