SME Times is powered by   
Search News
Just in:   • Moderna taps into AWS to boost Covid-19 vaccine research  • EU retail trade back to pre-pandemic levels  • Stock markets rise even with RBI leaving rates unchanged  • Start-ups get priority sector lending status  • Relief for MSMEs as RBI extends debt restructuring scheme 
Last updated: 01 Aug, 2020  

NYSE.9.Thmb.jpg US stocks gain amid solid tech earnings

   Top Stories
» Start-ups get priority sector lending status
» Relief for MSMEs as RBI extends debt restructuring scheme
» DGFT for accelerating exports in electronics, hardware sector
» RBI keeps lending rates unchanged
» 'Textile prices recovered, no sustainable recovery yet'
IANS | 01 Aug, 2020
US stocks finished higher on Friday, fueled by strong earnings reports from big tech names.

On Friday, the Dow Jones Industrial Average increased 114.67 points, or 0.44 per cent, to 26,428.32. The S&P 500 was up 24.90 points, or 0.77 per cent, to 3,271.12. The Nasdaq Composite Index advanced 157.46 points, or 1.49 per cent, to 10,745.27, Xinhua news agency reported.

Six of the 11 primary S&P 500 sectors closed higher, with technology up 2.5 per cent, leading the advancers. Energy slipped 0.69 per cent, the worst-performing group.

Meanwhile, US-listed Chinese companies traded mostly higher, with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.

On the earnings side, Apple shares surged more than 10 per cent on its earnings blowout. The company reported after Thursday's close quarterly revenue of US $59.7 billion, up by 11 per cent year on year, with quarterly earnings per diluted share of US $2.58, up by 18 per cent.

Shares of Facebook and Amazon rallied after each company reported quarterly results that beat forecasts.

Google-parent Alphabet also beat Wall Street in second-quarter earnings, but the company's overall revenue declined for the first time in its history. The stock struggled on Friday.

Wall Street's major averages advanced for the month. The Dow rose 2.4 per cent in July, while the S&P 500 and the Nasdaq gained 5.5 per cent and 6.8 per cent, respectively.
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 07 Aug, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Textile opportunities in Finland: An export snapshot (1)
» Pain points for MSMEs(1)
» SBI's centralised SME loan process to ensure better loan processing(1)
» Aluminium sector for MEIS scheme as exports at stake(1)
» Focus is now on loan restructuring: FM(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter