Global stock markets experienced a technology-driven rally as gains in AI-related assets increased optimism that recent selling pressure might be ending. Analysts stated that demand for artificial intelligence appears sustainable, suggesting that the recent selloff may have been an overreaction to concerns regarding capital spending.
In the United States, the Dow Jones Industrial Average gained 1.19%, the S&P 500 rose by 1.66%, and the Nasdaq index rose by 2.78%.
Big Tech performance and semiconductor surges
Microsoft shares rose by 15.5% following growth in Azure cloud service revenue and capital spending outlooks. Semiconductor firms also saw significant gains, with SK Hynix rising 29.7%, Samsung Electronics by 25%, Micron Technology by 18.4%, and AMD by 13%.
Amazon reported a 244.9% surge in second-quarter net income to $62.6 billion, leading to a 10.4% rise in its shares during after-hours trading. Apple's net income for the period ending in June rose 27.1% to $29.8 billion, though its shares fell by 6.1% in after-hours trading amid expected sales declines from supply chain issues. Meta's revenue increased 28% year-on-year to $60.8 billion, but shares declined 7.95% following a reported drop in second-quarter free cash flow, despite a reported 14% decrease in net income to $15.85 billion.
244.9% %
Amazon second-quarter net income surge
US economic indicators and monetary policy
The US economy grew by 1.5% in the second quarter, a slowdown compared to the first quarter. The US personal consumption expenditures (PCE) price index, the Federal Reserve's inflation indicator, decreased by 0.1% month-on-month in June, while the core PCE rose by 0.1% monthly and 3.3% annually. Initial jobless claims rose to 197,000 for the week ending July 25, remaining below market expectations.
Slowing growth and declining personal spending have increased optimism that the Federal Reserve could maintain interest rates for a longer period, weakening expectations for a second rate hike.
Central Bank decisions and global markets
The Bank of England maintained its policy rate at 3.75% following a 6-to-3 vote. Governor Andrew Bailey was among the six members who voted to keep the rate unchanged, while three members voted to increase the rate by 25 basis points to 4%. Bailey stated that inflation is declining faster than expected, but the war in the Middle East continues to cause energy prices to remain high and volatile.
In Japan, the Bank of Japan maintained its policy rate at 1%. The Nikkei 225 rose 4% near Friday's close, and Tokyo's CPI rose 2% in July. The South Korean Kospi index saw growth, with reports indicating a 16% increase and others noting a record surge of almost 18% on Friday.
Commodities and Currencies
Brent crude oil prices fell by 1.4% to $85.4 per barrel. Gold prices per ounce decreased by 0.5% to $4,082. The US 10-year Treasury yield decreased by 3 basis points to 4.65%. The US Dollar Index increased by 0.1% to 100.2 amid geopolitical uncertainties.
In Turkey, the Borsa Istanbul BIST 100 index closed at 13,292.93, a 1.55% decrease.
Updates
Microsoft reported that Q4 Azure and cloud services revenue grew by 43%, outperforming the 39.3% consensus and marking its fastest quarterly growth in four years. Meanwhile, US June personal spending rose 0.3% month-on-month, missing the 0.4% expectation, although May's figure was revised upward to 0.9% from 0.7%. Additionally, US June personal income grew by 0.2%, lower than the anticipated 0.3%, even as Q2 personal consumption reached 3.2%, exceeding the 2.3% forecast.
Microsoft reported Q4 Azure and cloud services revenue growth of 43%, surpassing the 39.3% consensus and marking its fastest quarterly growth in four years. Meanwhile, US economic data shows June personal spending rose 0.3% and personal income grew 0.2%, both missing expectations, although Q2 personal consumption strength reached 3.2% against a 2.3% forecast. Additionally, the Eurozone July economic confidence indicator climbed to a five-month high of 96.9, exceeding the expected 96.0.
Microsoft's Q4 Azure and cloud services revenue rose 43%, surpassing the 39.3% consensus and marking its fastest quarterly growth in four years. Additionally, the Philadelphia Semiconductor Index ($SOX) closed up over 8%, while Nebius Group NV and Sandisk led major gains in the Nasdaq 100 and S&P 500, respectively. While chipmakers surged, most software stocks tumbled as investors rotated sectors.
Microsoft reported that its Q4 Azure and cloud services revenue, excluding forex, grew by 43%, surpassing the 39.3% consensus and marking its fastest quarterly growth in four years. Meanwhile, US economic data showed June personal spending rose 0.3% month-on-month, missing the 0.4% expectation, and June personal income grew by 0.2%, also lower than the anticipated 0.3%. However, US Q2 personal consumption rose 3.2%, significantly stronger than the 2.3% forecast.
The tech rally was driven by a surge in semiconductor stocks, with the Philadelphia Semiconductor Index closing up over 8% and Nebius Group NV leading Nasdaq 100 gainers with a 25% increase. While most software stocks tumbled due to sector rotation, Microsoft reported Q4 Azure and cloud revenue growth of 43%, surpassing the 39.3% consensus. Additionally, major indices saw significant gains, with the S&P 500 up 1.66%, the Dow Jones up 1.19%, and the Nasdaq 100 closing up 3.36%.
Microsoft's Q4 Azure and cloud services revenue (excluding forex) grew by 43%, surpassing the 39.3% consensus to reach its fastest quarterly growth in four years. Meanwhile, US economic data showed June personal spending rose 0.3% and personal income rose 0.2%, both missing expectations, though Q2 personal consumption significantly outperformed at 3.2% against a 2.3% forecast. In the semiconductor sector, the Philadelphia Stock Exchange Semiconductor Index ($SOX) surged over 8%, leading a broader rally in chip stocks such as Nebius Group (+25%), Sandisk (+24%), and Lam Research (+19%).
Tech stocks saw significant movement as the Philadelphia Semiconductor Index closed up over 8%, with Nebius Group NV and Sandisk leading gains in the Nasdaq 100 and S&P 500, respectively. While many software stocks tumbled during a rotation into chipmakers, the S&P 500, Dow Jones, and Nasdaq 100 all closed higher. Additionally, Microsoft reported Q4 Azure revenue growth of 43%, surpassing the 39.3% consensus.
Microsoft's Q4 Azure and other cloud services revenue, excluding forex, climbed 43%, surpassing the 39.3% consensus and marking its fastest quarterly growth in four years. While US June personal spending rose 0.3% month-on-month, falling short of the 0.4% expectation, Q2 personal consumption rose 3.2%, exceeding the 2.3% expectation. Additionally, the Eurozone July economic confidence indicator hit a five-month high of 96.9, surpassing the expected 96.0.
Market volatility increased as major indices closed higher, with the S&P 500 up 1.66%, the Dow Jones up 1.19%, and the Nasdaq 100 gaining 3.36% on Thursday. While investors rotated out of software stocks into chipmakers, the Philadelphia Semiconductor Index ($SOX) surged over 8%, led by significant gains from Nebius Group NV, Sandisk, and Lam Research. Additionally, Microsoft reported Q4 Azure revenue growth of 43%, surpassing the 39.3% consensus, while US Q2 personal consumption rose 3.2%, exceeding expectations.
Market dynamics shifted as Microsoft's Q4 Azure revenue grew by 43%, exceeding the 39.3% consensus, while Amazon's market value surpassed $3 trillion for the first time. Amidst geopolitical tension, US President Donald Trump announced that a framework for an agreement with Iran had been reached and planned attacks were suspended, contributing to a drop in Brent crude oil prices. Additionally, the Dow Jones Industrial Average reached an all-time high of 53,178.41, and the S&P 500 rose by 1.48% to 7,600.50.
Major indices and tech stocks saw significant gains, with the Dow Jones Industrial Average reaching an all-time high of 53,178.41 and Amazon's market value surpassing $3 trillion for the first time. While the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90, semiconductor stocks rallied heavily, led by an 8% rise in the Philadelphia Semiconductor Index. Meanwhile, Brent crude prices fell 4.7% to $83.8 per barrel amid reports of advancing negotiations between the US and Iran.
Major indices saw significant gains as the Dow Jones Industrial Average reached an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq climbed 2.13% to 25,913.90. Amazon's market value exceeded $3 trillion for the first time following a 4.6% share increase, and technology stocks such as Meta, Alphabet, and Microsoft also posted notable gains. Additionally, Brent crude oil prices fell by 4.7% to $83.8 per barrel, reflecting optimism regarding ongoing US-Iran negotiations.
Major indices hit significant milestones as the Dow Jones Industrial Average reached an all-time high of 53,178.41, while Amazon's market value surpassed $3 trillion for the first time. Tech stocks saw varied performance, with Amazon, Meta, Alphabet, and Microsoft all posting gains, though most software stocks tumbled as investors rotated into chipmakers like Nebius Group and Sandisk. Additionally, the US 10-year Treasury yield fell to approximately 4.62% from last week's 4.74%, supporting a slight rise in gold prices.
Major indices saw significant gains as the Dow Jones Industrial Average reached an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq increased 2.13% to 25,913.90. Amazon's market value surpassed $3 trillion for the first time amid its shares rising 4.6%, and Microsoft reported Azure revenue growth of 43%, exceeding the 39.3% consensus. Additionally, Brent crude oil prices fell 4.7% to $83.8 per barrel as negotiations between the US and Iran show signs of progress.
Major indices climbed as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq gained 2.13% to 25,913.90. Tech stocks saw significant moves, including Amazon's market value surpassing $3 trillion for the first time and a massive rally in semiconductor-related shares such as Nebius Group and Sandisk. Additionally, market sentiment shifted as President Trump indicated an agreement framework with Iran had been reached, leading to a suspension of planned attacks and a decline in Brent crude prices.
Major indices saw significant gains as the Dow Jones Industrial Average reached an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq increased 2.13% to 25,913.90. Sector-specific movements included Amazon's market value surpassing $3 trillion and high-performing semiconductor stocks like Nebius Group and Sandisk leading major rallies. Additionally, markets reacted to geopolitical shifts as falling oil prices suggested potential progress in US-Iran negotiations.
Major indices reached new heights as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.79% and the Nasdaq Composite climbed 2.59%. Significant stock movements included Amazon's market value surpassing $3 trillion for the first time, alongside heavy gains in semiconductor-related stocks like Nebius Group and Sandisk. Amidst these rallies, geopolitical tensions saw a shift as President Trump announced a framework for an agreement with Iran and the suspension of planned attacks.
Major indices reached new milestones as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90. Tech growth was further bolstered by Amazon's market value surpassing $3 trillion for the first time. Additionally, Microsoft reported Q4 Azure revenue growth of 43%, exceeding the 39.3% consensus.
Major indices reached significant milestones as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90. Additionally, Amazon's market value surpassed $3 trillion for the first time amid a 4.6% share increase. The sector saw massive shifts as the Nasdaq 100's market capitalization grew by $3.5 trillion in just four days.
Major indices reached significant milestones as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.79% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90. Additionally, Amazon's market value surpassed the $3 trillion mark for the first time following a 4.6% increase in its shares.
Major indices hit significant milestones as the Dow Jones Industrial Average reached an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90. Additionally, Amazon's market value surpassed $3 trillion for the first time following a 4.6% rise in its shares. Amidst the rally, various semiconductor stocks including Sandisk, Lam Research, and Applied Materials saw substantial gains, even as some software stocks tumbled due to sector rotation.
Major indices reached new milestones as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 and Nasdaq also posted significant gains. Tech giant Amazon saw its market value surpass $3 trillion for the first time following a 4.6% rise in shares. Additionally, the Nasdaq 100's market capitalization grew by $3.5 trillion in just four days, fueled by strong earnings and AI optimism.
Microsoft's Q4 Azure and cloud services revenue grew 43% excluding forex, surpassing the 39.3% consensus and marking its fastest quarterly growth in four years. Meanwhile, US June personal spending rose 0.3% month-on-month, missing the 0.4% expectation, though May spending was revised upward to 0.9% from 0.7%. Additionally, US Q2 personal consumption rose 3.2%, significantly exceeding the 2.3% expectation.
Major indices reached significant milestones as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90. Sector-specific gains were driven by Amazon's market value surpassing $3 trillion for the first time, alongside heavy rallies in semiconductor stocks and tech giants like Meta, Alphabet, and Microsoft. Additionally, market sentiment regarding interest rates shifted as the perceived chance of a Fed rate hike in September dropped from 67% to 57%.
Major indices reached significant milestones as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while Amazon's market value surpassed $3 trillion for the first time. Additionally, volatility persists in the energy sector as Brent crude fell 4.7% to $83.8 per barrel amid reports of potential US-Iran negotiations. In the tech sector, Microsoft's cloud revenue grew 43%, exceeding the 39.3% consensus, while companies like Nebius Group and Sandisk led significant gains in their respective indices.
Amazon's market value has surpassed $3 trillion for the first time following a 4.6% rise in its shares. Simultaneously, major tech players saw gains, with Meta rising by 6%, Alphabet by 4.4%, Microsoft by 4.9%, and Nvidia by 2.9%. Notably, the Dow Jones Industrial Average reached an all-time high, closing at 53,178.41.
Major indices saw significant gains as the Dow Jones Industrial Average reached an all-time high of 53,178.41, while the S&P 500 rose by 1.48% to 7,600.50 and the Nasdaq increased by 2.13% to 25,913.90. Amazon's market value surpassed $3 trillion for the first time, fueled by a 4.6% rise in its shares. Additionally, Microsoft reported Q4 Azure revenue growth of 43%, exceeding the 39.3% consensus.
Major indices reached new heights as the Dow Jones Industrial Average hit an all-time high of 53,178.41, while the S&P 500 rose 1.48% to 7,600.50 and the Nasdaq rose 2.13% to 25,913.90. Additionally, Amazon's market value surpassed $3 trillion for the first time following a 4.6% rise in its shares.
The market rally was further fueled by Amazon's market value surpassing $3 trillion for the first time, alongside significant gains in major technology stocks such as Meta, Alphabet, and Microsoft. Meanwhile, the Dow Jones Industrial Average reached an all-time high at 53,178.41, and the S&P 500 and Nasdaq indices also saw substantial increases. Amidst this growth, progress in US-Iran negotiations has been indicated by falling oil prices and President Trump's statement regarding a potential agreement framework.
Microsoft's Q4 Azure and cloud revenue grew 43% year-over-year, surpassing the 39.3% consensus and marking its fastest quarterly expansion in four years, while Amazon's market value crossed $3 trillion for the first time and its shares rose 4.6% amid strong earnings; the Nasdaq 100’s market cap surged $3.5 trillion over four days, driven by AI optimism and chipmaker rallies, with semiconductor stocks like Lam Research and Applied Materials up over 19% and 14% respectively, and market expectations for a September Fed rate hike dropped from 67% to 57% as Treasury yields fell to 4.62%.
Microsoft's Q4 Azure and cloud revenue grew 43% year-over-year, surpassing the 39.3% consensus and marking its fastest quarterly expansion in four years, while Amazon's market value crossed $3 trillion for the first time amid a 4.6% stock surge; the Nasdaq 100's market cap rose $3.5 trillion over four days, fueled by AI-driven earnings optimism, and the US 10-year Treasury yield fell to 4.62% as market expectations for a September Fed rate hike dropped from 67% to 57%, alongside a 4.7% decline in Brent crude oil prices signaling progress in US-Iran negotiations, which Trump described as 'Iran's last chance' for a deal.
Microsoft's Azure and cloud revenue surged 43% in Q4, exceeding the 39.3% consensus and marking its fastest growth in four years, while Amazon's market value crossed $3 trillion for the first time amid a 4.6% stock rally; the Nasdaq 100's market cap rose $3.5 trillion over four days, driven by AI optimism and strong earnings, with S&P 500 and Nasdaq Composite closing at record highs of 7,600.50 and 25,913.90 respectively, and market expectations for a September Fed rate hike now at 57%, down from 67%.
