Amazon boosts stocks and eases AI concerns
The U.S. stock indices rose significantly after Amazon's quarterly results showed the highest revenue growth rate in over four years, boosting investors' confidence in artificial intelligence companies. Amazon's stock jumped by more than 15%, while Apple's stock declined by 7.4% due to expectations that its growth would be affected by supply chain constraints and rising iPhone prices. The S&P 500, Nasdaq, and Dow Jones indices increased between 0.53% and 1%. Experts expect corporate earnings to grow by 48% in the second quarter, led by AI companies, while the bond market continues to adjust based on the likelihood of interest rate hikes to combat inflation.
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