Stocks
Alphabet Inc. (GOOGL $113), the parent of Google, posted Q2 EPS of $1.21, below the expected $1.27, as revenues grew 13.0% y/y to $69.7 billion, missing the $69.8 billion estimate. Traffic acquisition costs Forex came in below forecasts, and it said search and cloud revenues drove its Q2 results, but its YouTube ad revenue was below projections. GOOGL traded higher as the Street seemed to cheer its search results.
- Tomorrow’s international economic calendar will hold trade data from Japan, retail sales from Australia, housing prices from the U.K., PPI from France, retail sales from Spain, as well as confidence data out of the Eurozone.
- Sales tumbled 19.8% y/y on the heels of May’s negatively-adjusted 12.3% fall.
- “So it started out as kind of a little bit of a value investing story,” he added.
- Dow component Boeing Company (BA $156) reported an adjusted Q2 loss of $0.37 per share, larger than the $0.13 per share shortfall that was expected, with revenues declining 2.0% y/y to $16.7 billion, south of the forecasted $17.6 billion.
- U.S. stock indexes on Wednesday rallied sharply, with the S&P 500 and Dow Jones Industrials posting 1-1/2 month highs.
The stock market drama has been called a “David and Goliath” battle. A 2012 law makes it illegal for lawmakers to use information from their work in Congress for their personal gain. The law requires them to disclose stock transactions by themselves or family members within 45 days. Sign up for a Robinhood brokerage account to buy or sell HOOD stock and options commission-free. The latest housing data showed existing home sales fell again in June as home prices kept rising. Despite posting lower-than-expected quarterly results, Alphabet and Microsoft stocks soared.
S&p 500: Four Reasons Why The S&p 500 Can Power To 5,500 In 2022
Not investment advice, or a recommendation of any security, strategy, or account type. Article
Nearly a quarter of first-time homebuyers open a credit card when they close on a home. Sign Up NowGet this delivered to your inbox, and more info about https://www.cnbc.com/money-in-motion/ our products and services. Futures on the Dow Jones Industrial Average lost0.17%, while those on the S&P 500 moved 0.25% lower, as of 7.55 a.m.
Chip Makers Stocks Rally As Senate Votes To Advance U S Chip Infrastructure Bill
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