For his part, the nasdaq posted a profit of 1.9%joined the uptrend on S&P 500 who earned a marginal 1.5% and main index dow jones that rose 1.1%.
For its part, most sectors of the S&P 500 finished higher. The one for energy was the one that rose the most, thanks to a jump in shares of Chevron Corp and Exxon Mobil after they reported record quarterly revenue.
The actions of Apple Inc. rose after the company said parts shortages were easing and demand for the iPhone was kept.
Amazon.com Inc skyrocketed after forecasting an increase in revenue in the third quarter thanks to higher revenue from Prime loyalty subscriptions.
“In today’s market, the figures for Amazon and Apple are giving support to the market, on the feeling that two big companies, which are a big part of the S&P, seem so far capable of navigating through these more difficult times,” said Rick Meckler, partner at Cherry Lane Investments.
AlsoheStocks have also risen this week on investor speculation that the Federal Reserve may not have to be as aggressive with interest rate hikes as some feared.
The results of US companies in the second quarter have been, for the most part, better than expected.
Of the 279 S&P 500 companies that have posted earnings so far, 77.8% have beaten expectations. Earnings of S&P 500 companies are expected to have risen 7.1% in the quarter, up from an estimated 5.6% in early July, according to IBES data from Refinitiv.
Source: Ambito
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