Wall Street Rebounds
US stock markets rallied during Thursday's trading (July 30) following a sharp decline in the previous session. The S&P 500 and Dow Jones rose by more than 0.5%, while the Nasdaq 100 surged approximately 1.5%, driven by a recovery in technology and semiconductor stocks.
Microsoft shares jumped nearly 12% after its cloud business revenue grew by 43%—the fastest pace since 2022. The company's projected capital expenditure also remained within market expectations, easing concerns regarding the high costs associated with artificial intelligence investments. Shares of Micron and SanDisk also rose by more than 9%.
In contrast, Meta shares plunged about 10% following disappointing performance projections. Investors remain skeptical about whether the company's massive investments in AI labs will soon yield the expected revenue growth. The market is now awaiting earnings reports from Apple and Amazon.
Ultimately, strong corporate earnings helped Wall Street recover, though rising long-term bond yields remain a risk factor. The lack of a clear signal regarding interest rate hikes has also fueled concerns that inflation could remain elevated for longer.
Source: Newsmaker.id
