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Nasdaq rises over 2 percent
U.S. stocks experienced a strong rally at the beginning of August, with the Dow Jones Industrial Average reaching a new record high following improved investor sentiment resulting from reduced tensions between the United States and Iran, a decline in oil prices, and lower yields on U.S. Treasury bonds. Robust corporate earnings during this quarter also contributed, with profits of 304 companies in the S&P 500 growing by 29.3% compared to the previous year, surpassing expectations by 85.2%. Shares of companies like Amazon and SpaceX rose, while Bristol-Myers Squibb's stock remained stable. Anticipated upcoming economic data is expected to continue supporting the market, with the Federal Reserve possibly raising interest rates in September.
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