US EditionWorld Shares Mostly Climb After a Rally for Apple Leads Wall Street Higher
NEW YORK, UNITED STATES, AUG 7 – Apple drove nearly half of the S&P 500's 0.7% gain as investors bet on Federal Reserve interest rate cuts amid stronger corporate earnings and easing tariff concerns.
- On Wednesday, Wall Street rose with Apple leading gains and the S&P 500 increasing by 0.7% in afternoon trading in New York.
- The market rise followed soft U.S. jobs data on Friday, which intensified bets on Federal Reserve rate cuts in September and fueled hopes for economic easing.
- Key contributors to the rally included Shopify, which jumped 19.5% after exceeding revenue expectations, and Arista Networks, whose stock surged 18% on strong profits.
- Meanwhile, Disney’s stock fell 3% despite profit beating forecasts because its revenue fell short, and Advanced Micro Devices dropped 6.6% after matching profit expectations.
- Additionally, the NFL proposed a deal with ESPN granting it a 10% stake while oil prices rose after declines, suggesting mixed but cautiously optimistic economic signals.
90 Articles
90 Articles
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The Killeen Daily Herald
Asian shares mostly climb after a rally for Apple leads Wall Street higher
Asian shares are mostly higher after a rally for Apple led Wall Street gains. Markets appeared to have scant if any reaction to higher tariffs on exports to the United States that took effect early Thursday. U.S. futures were mixed…
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