- July 30, 2022
- Posted by: Stratford Team
- Category: Economy
- U.S. stocks indexes jump 1-2%; Amazon, Chevron lead
- S&P 500, Nasdaq post biggest monthly gains since 2020
- Oil futures up nearly 2%; U.S. dollar index dips
- Longer-term Treasury yields decline
July 29 (Reuters) – U.S. stocks extended their mid-summer rebound on Friday, with the dollar and some longer-term Treasury yields dipping, as Wall Street cheered positive corporate news in spite of increased labor costs and other indicators of continued inflation.
Positive forecasts from Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O) showed resilience in giant companies to survive an economic downturn, while energy giants Exxon Mobil (XOM.N) and Chevron Corp (CVX.N)posted record revenue on Friday, bolstered by surging crude oil and natural gas prices.
The Dow Jones Industrial Average (.DJI) rose around 1%, the S&P 500 (.SPX) gained about 1.4% and the Nasdaq Composite (.IXIC) added nearly 2%. The S&P 500 and Nasdaq have now posted their biggest monthly percentage gains…
