US stock indices continued to record records when they closed the opening session of the week on Monday, July 26th, amid anticipation in the markets for the announcements of major technology companies in the world such as Microsoft, Facebook, Amazon and Alphabet and Apple about their financial results for the second quarter of this year.
Tesla, which specializes in electric cars, announced its financial results on Monday, which came in better than market expectations, as the company achieved earnings per share of 1.45 dollars, compared to expectations of 98 cents per share, recording a net profit of 1.14 billion dollars, an increase of 998% compared to the same period last year. Revenues amounted to $11.96 billion, better than expectations that it had reported profits of $11.30 billion. The company’s share closed at $657.62, up 2.21%.
The markets are awaiting many economic data during the sessions of this week, the most important of which is the US Federal Reserve meeting, where the markets are awaiting the US Federal Reserve’s comment on the inflation rises in June, which recorded the highest reading since June 2008 at 0.9% compared to May’s reading of 0.6%, where expectations indicate that the US Federal Reserve will keep Its monetary policy and interest rates will remain unchanged at this week’s meeting, but any indications of when the bank will reduce its $120 billion in asset purchases per month may affect the movements of US stocks.
The Dow Jones Industrial Average closed the opening session up by about 82 points at the close at 35.144 levels, with gains of about 0.24%. It is now trading in the futures for today’s session at 34.809, down by about 224 points.
While the S&P 500 index recorded highs at the close at 4.422 levels, up by about 10 points or 0.24%, and it is now
trading in futures at 4.391 levels, down by about 23 points.
While the Nasdaq index recorded gains of 3 points, to close the session at 14.840 points, recording gains of about 0.03%, and it is now trading at 15,060 levels.
07/11/2024
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