US Stocks Rise to Finish a Wild July as Amazon Soars, Apple Sinks and Inflation Worries Worsen
- On Friday, U.S. stocks finished a volatile July with gains as Amazon leaped 15.3% on strong profits while Apple dropped 9.1% after releasing a disappointing revenue forecast.
- The war with Iran drove oil prices higher, pushing Brent crude to $87.93 and intensifying inflation worries that sent the 10-year Treasury yield to 4.71% from 4.68% late Thursday.
- Amazon's profit more than tripled, signaling its AI investments are paying off, while Apple executives pinned their growth forecast miss on a supply crunch for components during the AI boom.
- The Federal Reserve kept interest rates steady on Wednesday despite inflation remaining well above 2%, prompting economist Brian Jacobsen, chief economic strategist at Annex Wealth Management, to question the central bank's credibility.
- Globally, Seoul's Kospi index soared 17.9% on Friday despite July losses, while higher oil prices pushed average U.S. gasoline costs to nearly $4.11, squeezing consumer budgets across the United States.
56 Articles
56 Articles
Amazon Jumps, Apple Falls to End Up-and-Down Month
US stocks rose Friday to finish a wild July for Wall Street as Amazon leaped, Apple sank, and rising oil prices worsened worries about inflation staying high. Friday's gains sent the S&P 500 to its first winning week in three, the AP reports, but the main measure of the US...
Pittsburgh Post-Gazette
Los Angeles TimesStocks rise to finish a wild July as Amazon soars, Apple sinks and inflation worries worsen
NEW YORK — U.S. stocks rose Friday to finish a wild July for Wall Street as Amazon leaped, Apple sank and rising oil prices worsened worries about...
The Blade
Washington TimesU.S. stocks rise to finish a wild July as Amazon soars, Apple sinks and inflation worries worsen
NEW YORK — U.S. stocks rose Friday to finish a wild July for Wall Street as Amazon leaped, Apple sank and rising oil prices worsened worries about inflation staying high.
The main stock indexes registered a remarkable rise this Friday, the last stock exchange session in July, as investors ignored the increase in bond yields and despite the collapse of Apple shares. According to preliminary data, the S&P 500 rose by 0.70%, to 7,000 489.52 units, while the Nasdaq Composite won 1.01%, to 25 thousand 376.69. The Industrial Dow Jones average totaled 280.77 points, or 0.54%, to close at 52 thousand 488.83 integers. App…
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