NEW YORK (dpa-AFX) – Surprisingly solid quarterly reports and outlook from the two heavyweights Apple and Amazon
have brought some relief to US stock markets ahead of the weekend. The Dow Jones Industrial rose 0.73 percent to 32,767.10 on Friday, the highest level since early June.
On a weekly basis, the Dow gained 2.7 percent. The index would end the historically rather weak month of July with a premium of 6.5 percent. That would be the strongest July in twelve years. Share prices were recently supported by the expectation that the US Federal Reserve might be more cautious when it comes to raising interest rates.
The market-wide S&P 500 gained 1.20 percent on Friday to 4121.02 points. The tech-heavy Nasdaq 100
increased even more strongly by 1.46 percent to 12,903.74 points. There was also positive news about the economy, with US consumer sentiment brightening somewhat more than expected in July.
Amazon shares went up 12 percent. The world’s largest online retailer significantly increased sales in the second quarter despite high inflation and fears of a recession. Analyst Lee Horowitz from Deutsche Bank called Amazon “the port in the economic storm”.
Apple has so far defied economic concerns and logistics bottlenecks with its iPhone business. In the past quarter, the iPhone was able to grow in a smartphone market that had shrunk overall. The shares gained 3.5 percent.
Totally different Intel . After a slump in sales and red figures in the past quarter, the chip giant has conceded its annual targets. Expert Stacy Rasgon from the investment house Bernstein called the profitability “terrifying” and the new annual targets “nasty”. At minus 8.1 percent, the shares found themselves lagging behind at the bottom of the Dow.
Statements from the consumer goods giant Procter & Gamble were also not good
The stock was the second-biggest loser in the index at minus 5.4 percent. The group expects headwinds from high inflation this year.
A record profit by the oil company Exxon Mobil met with applause from investors . Soaring oil and gas prices gave the company a $17.9 billion profit in the second quarter. The course rose by 4.4 percent. However, the numbers of the opponent Chevron came even better who also increased the multi-billion dollar share buyback. Chevron increased by 8.5 percent./bek/he
ISIN US2605661048 US6311011026 US78378X1072
AXC0319 2022-07-29/20:05
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