"US stocks gained on Friday as blowout earnings results from Amazon.com Inc. and a strong holiday forecast from Apple Inc. rekindled risk appetite. The S&P 500 Index climbed 0.5% as of 9:44 a.m. in New York. The benchmark is poised to notch its sixth-straight month of gains after soaring nearly 40% from its April nadir in one of the fastest recoveries in stock market history."
"Despite upbeat signals from tariff negotiations and technology earnings, investors still face a murky economic outlook after the Federal Reserve earlier this week pushed back on the prospect of further interest-rate reductions, with the US in a data blackout because of the government shutdown. Kansas City Fed President Jeff Schmid said he voted against the US central bank's decision to lower rates this week because he's concerned that economic growth and investment will put upward pressure on inflation."
US stocks rallied after Amazon and Apple delivered stronger-than-expected results and forecasts, lifting the S&P 500 and Nasdaq 100. Amazon's cloud unit registered its strongest growth in almost three years, and Apple forecast higher holiday sales following new iPhone releases. Positive developments on US-China trade, including claims of an agreement on access to China's rare earths, supported sentiment. The Federal Reserve signaled reluctance to cut rates further, and the US remained in a data blackout amid a government shutdown. Two Fed officials voted against the recent rate cut, citing inflationary risks from growth and investment, while options bets clustered near 7,000 for December.
Read at www.mercurynews.com
Unable to calculate read time
Collection
[
|
...
]