U.S. stocks climb on solid earnings
On Friday, U.S. stock markets rose, supported by strong results from companies like Amazon, which announced second-quarter revenues that surpassed expectations, boosting investor confidence in AI spending and cloud computing. The Nasdaq surged by 0.8%, the S&P 500 increased by 0.5%, while the Dow Jones Industrial Average rose by 227 points, or 0.5%. Semiconductor stocks, such as AMD and Micron, also saw notable gains, with the iShares Semiconductor ETF rising by 5.4%. Despite the market's rise, Apple experienced a drop of over 9% after its third-quarter results showed iPhone sales increased by 22%, but a decline in services revenue led to a decrease in its stock price. This performance occurred amid significant fluctuations during the week, with the Dow recording its worst daily decline since April 2025, before rebounding as investor optimism grew about the Federal Reserve potentially lowering interest rates. Despite the volatility, the general trend remained upward, with both the S&P and Nasdaq approaching monthly losses, while the Dow posted a slight increase in July.
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