GLOBAL MARKETS-Wall Street extends July rebound, led by tech, energy
U.S. stocks extended their July rebound on Friday, with the dollar and some Treasury yields dipping, as traders acted on positive corporate news despite increased labor costs and other inflation indicators. Positive forecasts from Apple Inc and Amazon.com Inc showed resilience https://www.reuters.com/markets/europe/amazon-apple-raise-hopes-investors-brace-slowdown-2022-07-29 in mega-cap companies to survive an economic downturn, with hopes of a less aggressive monetary policy boosting sentiment. U.S. labor costs increased strongly in the second quarter as a tight jobs market continued to boost wage growth, which could keep inflation elevated for a while.
Published:7/29/2022 11:21:16 AM