U.S. Stocks Experience Mixed Results Amid Major Company Earnings
On Friday at 12:14 p.m. ET, the Dow Jones Industrial Average rose 0.3%, the S&P 500 gained 0.2%, and the Nasdaq Composite also added 0.2%. Despite these increases, the equal-weight S&P 500 index fell 0.3%, indicating that many stocks were underperforming while large-cap companies drove positive sentiment.
Amazon’s stock surged by 14.9% following a strong second-quarter revenue report of $200.6 billion, largely driven by a 37% growth in Amazon Web Services (AWS). This boost added approximately 208 points to the Dow. Conversely, Apple’s stock plummeted 9.4%, deducting about 188 points from the Dow due to muted guidance amid component supply constraints related to AI hardware.
While the iShares Semiconductor ETF gained 0.7%, individual stocks showed disparity, with Micron Technology falling 5.3%. Rising tensions in the Middle East contributed to an increase in oil prices, while the 10-year Treasury yield ticked up to 4.7%.
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