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It’s time for Yahoo Finance’s market minute.
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US stocks are rallying today with the tech sector boosting the major averages.
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In corporate news, Amazon though announcing plans to spend as much as $50 billion dollars expanding its capacity to provide AI and high-performance computing services to the US government.
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Amazon Web Services will break ground next year on the data centers.
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Plus Broadcom shares are rising with Google suppliers as Alphabet shares surge.
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The stock is trading at a record high amid optimism for its AI offerings.
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Google’s success is particularly significant for Broadcom, which has partnered with the tech giant since 2016.
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And Cole’s has appointed a new CEO.
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The retailer promoted interim CEO Michael Bender to the full-time role.
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The company is trying to move past a period of management turmoil and slumping sales.
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And that’s your Yahoo Finance market minute.
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For more on what’s trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of the trading session.