The major US indices are trading higher with Apple leading the way (for a change). Shares of Apple moved up over 5.10% after pledging $100 billion of additional investment in the US. That goes on top of $500 billion pledge earlier.
In return, Apple products imported into the US from India will be exempt from tariffs.
Shares later in the day were boosted by report that Pres. Trump would potentially meet with Russia’s Putin and Ukraine’s Zelenskiy as early as next week.
Although major indices are higher, things were not so great for AMD shares which fell -6.42% after earnings yesterday beat expectations but concerned about data center weighed on the stock.
SMCI was another stock it hard after its earnings after the close and reports that the Company’s capital needs for production are eating into profits. Shares of tumbled -18.29%
Nvidia shares rose a modest 0.65% underperforming the NASDAQ. Earnings for Nvidia will be released until August 27.
Broadcom did benefit, however, with a gain of 2.98%, and for what it’s worth Intel gained 1.09% (but it remains nearer it’s lows). Other winners today included:
A snapshot of the final numbers shows:
- Dow industrial average rose 81.38 points or 0.18% at 44193.12
- S&P index rose 45.87 points or 0.73% at 6345.06
- NASDAQ index 252.87 points or 1.21% at 21169.42
- Russell 2000 -4.38 or -0.20% at 2221.28
