Stock Market Update: Dow Climbs, Apple Soars on US Investment Pledge Amidst Earnings Reports
Stock Market Update: Dow Climbs, Apple Soars on US Investment Pledge Amidst Earnings Reports
The Dow Jones Industrial Average advanced yesterday, with other key large-cap stock indexes also closing near session highs, as investors actively processed a wave of corporate earnings reports. Market sentiment was further influenced by comments from a Federal Reserve official, who suggested that an interest-rate cut would be appropriate.
Among the day’s significant movers, Apple stock surged on news reports indicating the company’s plan to announce a fresh $100 billion commitment to U.S. manufacturing. Elsewhere, Shopify shares spiked following a strong revenue beat. In corporate earnings news, Advanced Micro Devices (AMD) saw its stock slide after reporting in-line earnings, while Super Micro Computer (SMCI) was also under the spotlight. The broader chip sector, including Nvidia and Broadcom, experienced declines amidst concerns over looming Trump tariffs, though Astera Labs bucked the trend by surging after topping its Q2 targets.
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