US Market

The tech giant posted revenue growth and expects this to continue in the current quarter, but sales in China contracted as headwinds persist

Amazon's latest financial report revealed a mixed performance, leading to an 8% decline in after-hours trading. The company's revenue for the quarter ending in June reached $148 billion, a 10% increase from the previous year, but slightly under analysts' expectations of $148.7 billion. Despite this, Amazon achieved a significant 94% rise in earnings per share, reaching $1.26, well above the forecasted $1.03. The Amazon Web Services (AWS) division continued to…

The Facebook and Instagram parent company reported strong results which justifies its AI splurge, calming broader market fears of excessive spending on the new technology

AMD exceeded expectations with strong Q2 results and a bullish forecast for AI GPU revenue, boosting its shares. Microsoft reported better-than-expected earnings and revenue but saw a slight shortfall in Azure growth. Both companies are investing heavily in AI to capture emerging market opportunities.

On Tuesday, Nvidia's stock dropped significantly, ending the day 7% lower at $103.73, marking its lowest point since late May. The company's stock has struggled in July, declining 16% and potentially marking its worst monthly performance since September 2022. This decline is partly attributed to a shift in market sentiment, with investors moving away from high-performing tech stocks and reallocating capital into smaller-cap stocks, which might benefit from potential interest…

The tech heavy index is in precarious position amidst skepticism around the viability of the AI rally and a rotation to small caps and this week’s earnings and other key events that can determine its trajectory

The stock posted its worst day in more than two years after the Q2 results showed a drop in profits and automotive revenues, as investors appear cautious around the AI push

Federal Reserve Chair Jerome Powell stated that recent inflation data has increased confidence that price growth is moving towards the 2% target, noting progress and a focus on labour market cooling. On 11 July, government data showed a decline in the consumer price index and a year-over-year pace slowing to 3%, a positive sign for potential interest-rate cuts in 2024.

The index regains its footing as markets price in three cuts within the year and focus now shifts to Netflix earnings, which kicks things off for Big Tech

A significant shift in market sentiment occurred on Thursday, as investors moved away from large-cap tech stocks and into other sectors. This change was triggered by a lower-than-expected inflation reading, which sparked a rally in small-cap stocks and a decline in tech shares. The Russell 2000 index saw a notable 3.6% increase, while the Nasdaq Composite fell 2%. Investors are now wondering if this shift marks a temporary correction or…

The US Consumer Price Index (CPI) came in lower than expected, which is likely to bolster the Federal Reserve's confidence that inflation is on a sustainable path to the 2% target. This has increased the likelihood of a rate cut in September to 81.3%. June's CPI report was notably soft, with headline inflation falling 0.1% month-on-month, contrary to the predicted rise of 0.1%. Core CPI increased by only 0.1% MoM,…