the Dow Jones reverses higher as Amazon and Apple rise on earnings
A hotter-than-expected inflation figure caused the Dow Jones Industrial Average to bounce upward on 29 July '22 Friday morning, reversing early losses.
Additionally, tech giants Apple (AAPL) and Amazon.com (AMZN) were higher after releasing excellent earnings reports late on Thursday.
In early trading, Amazon shares rose 11%, while Apple stock rose 2.5% ahead of the market opening. The tech-focused Nasdaq increased by 1.1 percent. The Russell 2000 small-cap index increased by 1.3%.
Energy behemoths Chevron (CVX) and Exxon Mobil (XOM), First Solar (FSLR), and Dow Jones component Intel are among the other notable results movers on Friday morning (INTC).
Shares of Chevron increased by about 4%, while those of Exxon increased by almost 2%. First Solar increased by 4%. After significantly missing expectations for the second quarter and lowering its projection for the entire year, Intel fell 11%.
Early on Friday, Tesla (TSLA) grew somewhat. The market opened today with Microsoft (MSFT), the market leader in technology, trading up 0.8 percent.
The Dow Jones Industrial Average increased by 0.2% at Friday's opening, while the S&P 500 increased by 0.7%. The heavily tech-focused Nasdaq rose 1.1% in morning trading.
The Nasdaq 100 tracker Invesco QQQ Trust (QQQ) increased 1.1 percent among exchange-traded funds. Additionally, the SPDR S&P 500 ETF (SPY) increased by 0.7%.
The 10-year Treasury yield increased slightly on Friday morning to 2.71 percent, recovering some of the Thursday decline to 2.68 percent.
The 10-year Treasury yield decreased this past week to its lowest amount since early April. Meanwhile, West Texas Intermediate futures increased by more than 2% to trade close to $99 a barrel as U.S. oil prices continue to rise.
The Dow Jones Industrial Average and S&P 500 both saw gains of 1% and 1.2 percent on Thursday, defying predictions of an impending recession.
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