Nasdaq jumps after bumper earnings for Big Tech
Blowout quarterly results for tech giants propelled US stocks higher, even as much of the rest of the economy reports a deep blow from the pandemic.
The tech-heavy Nasdaq 100 index jumped 1.7 per cent at the opening bell after four of the largest US tech companies posted resilient quarterly results late on Thursday.
Facebook led the gains with a 7 per cent increase. Apple rose about 6 per cent, while Amazon climbed 5.7 per cent. Alphabet, the parent of Google, slipped 4 per cent after it disclosed the first decline in sales ever reported by the internet group.
The US benchmark S&P 500 stock index added 0.3 per cent. Chevron and ExxonMobil reported heavy quarterly losses on Friday, with shares in the oil majors slipping about 4 per cent and 0.4 per cent, respectively.
Americans increase spending in June
US consumers lifted spending in June, even as parts of the country dealt with a flare-up in coronavirus cases.
Personal consumption expenditures were up 5.6 per cent against the prior month, the Bureau of Economic Analysis said on Friday. That compared with
A Karachi-primarily based banker receives the most recent update on stocks from his counterpart in Hong Kong in a blink of a watch. However bottom line is that this world government, which many put their hope in to determine world peace, behaved badly toward US consumers and offered toxic loans that were just plain mistaken. I’m sure George Soros desires peace, and needs a government that usurps the sovereignty from individual nations which have the ability to make war. Nevertheless, Mr. Soros must additionally be aware that this one world government is kind of able to stealing from the people and has not confirmed that it’s for “good” on this planet. To this point, this NWO has manifested very dangerous habits in direction of the individuals of the United States and Europe.
Service provider banks discovered its origin in the early periods in the country of Italy by the Italian retailers. Writing in Saturday’s (22nd, May 2010) Irish , Prof Kelly, who originally predicted the economic crisis, said the open-ended assure of banks’ liabilities and the Nama bailout will go away the Republic with a a worse ratio of debt to nationwide earnings than the one that’s sinking Greece” by 2012. Analysts at Bank of America wrote that the Federal Reserve could announce measures on Sunday evening aimed at bolstering liquidity within the industrial paper market, used by firms for brief-term loans.