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With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.
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Investors cheered Alphabet's first-ever dividend, its $70 billion stock buyback program, and better-than-expected first-quarter results. Its shares jumped 10% and reached a record high, lifting the Google-parent's market value above $2 trillion.
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The company said it expects SUVs to remain the dominant category in the Indian market, adding that it will continue to launch new vehicles in the segment to strengthen its market share. However, small car sales, once its bread and butter, are unlikely to revive in the next two years, it said.
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