Amazon and Apple Boost in the US – strong July | Free press

New York.

Surprisingly solid quarterly reports and forecasts for the two largest companies, Apple and Amazon, brought relief to US stock markets ahead of the weekend. The Dow Jones Industrial index rose 0.97 percent on Friday to 32,845.13 points, the highest level since early June.

On a weekly basis, the Dow gained 3 percent. The index ended the historically weak stock market month of July with a premium of 6.7%, which is the strongest July for Dow in twelve years. Stock prices have recently been supported by the expectation that the US Federal Reserve may be more cautious in raising interest rates.

The technologically advanced Nasdaq 100 gained 1.81 percent on Friday to 12,947.98 points. July was the best trading month since April 2020 with a plus of 13%. The S&P 500 general market index gained 1.42% on Friday to 4,130.29 points. There was also some positive news about the economy, and US consumer sentiment improved slightly more than expected in July.

Amazon’s shares increased by more than 10 percent. The world’s largest online store increased sales significantly in the second quarter despite high inflation and fears of a recession. Deutsche Bank analyst Lee Horowitz called Amazon “a port in the economic storm.” July was the best month for Amazon’s share price since October 2009, gaining 27%.

Apple has so far resisted economic concerns and logistical bottlenecks with its iPhone business. In the last quarter, the iPhone was able to grow in a smartphone market that has shrunk overall. Shares gained 3.3%.

Drop in sales at Intel

Completely different Intel. After falling sales and red data in the last quarter, the chip giant lost its annual targets. Investment house expert Stacy Rasgon of Bernstein called profitability “terrifying” and the new annual targets “ugly.” At minus 8.6 percent, the stocks trailed behind at the end of the Dow index.

The statements of the consumer goods giant Procter & Gamble were also not well received, its share was the second largest loser in the index with minus 6.2 percent. The group expects an adversity related to high inflation this year.

Record profit of the oil concern Exxon Mobil met with applause from investors. Soaring oil and gas prices gave the company a profit of $ 17.9 billion in the second quarter. The exchange rate increased by 4.6 percent. Even better were the data of the contractor Chevron, which also increased the multi-billion dollar buyout of shares. Chevron rose 8.9 percent on the Dow top.

The euro recovered most of its initial losses, posting USD 1.0222 in late trading. The European Central Bank set the reference rate at $ 1.0198 (Thursday: $ 1.0122). The dollar thus cost 0.9806 (0.9880) euros.

The US bond market rose. The Treasury’s 10-year futures contract increased by 0.08%. to 121.08 points. The yield on ten-year government bonds was 2.66%. (dpa)

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