U.S. stock markets rose last Friday, with Apple 's big gains that day helped offset the decline in non-discretionary consumer stocks dragged down by sales warnings from e-commerce giant Amazon.
On the same day, Nasdaq Composite Index rose 309.78 points, rose 2.9% to 11102.45 points, rebounding after two consecutive days of decline. S&P 500 rose 93.76 points, or 2.5%, to 3901.06 points; Dow Jones Industrial Index rose 828.52 points, or 2.6%, to 32861.80 points. The three major stock indexes closed up all last week, with the recent gains in the Dow Jones Industrial Average dropping its decline so far this year to less than 10%.
's gains last week proved that a group of companies called FAANG - Facebook parent company Meta Platforms, Apple, Amazon , Netflix and Google parent company Alphabet - no longer pushing the performance of major stock indexes as they have been in years. Shares of these companies all fell sharply in 2022, with Meta, Amazon and Alphabet all fell sharply last week after releasing their lackluster earnings reports.
Amazon's stock price fell $7.55 last Friday, or 6.8%, to $103.41, following disappointing expectations for the current fiscal quarter (including the key holiday shopping season). Meta shares rose $1.26, or 1.3%, to $99.20 on the day, after its disappointing quarterly results, down nearly 25% last Thursday. Apple was a highlight, leading the Dow Jones Industrial Average higher, with the stock rising $10.94, or 7.6%, to $155.74.
Real estate, finance and consumer staples were some of the biggest drivers of large-cap index gains last week. All other S&P 500 stocks closed up last week except one stock. Only non-discriminatory stocks fell at the close of Friday.
Not all third-quarter earnings were bad. Apple posted record revenue in its latest quarter, while oil giants ExxonMobil and Chevron posted some of the highest quarterly profits on Friday. The performance of some American banks and industrial vanes Caterpillar is also unexpectedly flexible.
Benchmark 10-year Treasury yield rose to 4.009% on Friday from 3.938% on Thursday.
In the commodity market, the global oil benchmark Brent crude oil fell 1.2% to $95.77 a barrel, up 2.4% last week.
European Stoke 600 index rose 0.1% last Friday.
(complete this article)
[Important reminder] Investments in stock markets, funds and other investments are risky. Past performance does not indicate future performance, so investments should be cautious. The above views only represent the opinions of relevant authors or media, do not mean that Wenji has a good position, nor do they constitute investment advice to readers. The content of the article is for research and study purposes only, and the stocks, funds, etc. involved do not constitute any investment advice. Article comprehensive from: Dow Jones.
