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Thursday, 29 July 2021: US Equity markets weaker, corporate earnings and the Federal Reserve in focus

Thursday, 29 July 2021: US Equity markets weaker, corporate earnings and the Federal Reserve in focus
Jul 28, 2021 · 7m 15s

US equity markets weaker after a listless session, with the Federal Reserve providing no firm clues about when it might start reducing its purchases of government bonds despite saying that...

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US equity markets weaker after a listless session, with the Federal Reserve providing no firm clues about when it might start reducing its purchases of government bonds despite saying that the economic recovery is on track - Dow fell -128-points or -0.36% . The broader S&P500 dipped -0.02%. The Nasdaq rose +0.70%. Apple Inc fell -1.22% a day after recording its strongest June quarter result ever, with Chief Executive Officer (CEO) Tim Cook warning that silicon “supply constraints” will affect sales the iPhone as well as the iPad. Advanced Micro Devices Inc rallied +7.6% to close at record high of US$97.93, soaring late in the session after an initially muted reaction to the chipmaker’s better-than-expected second quarter result after the close of the previous session. The small capitalisation Russell 2000 rallied +1.51%. Uber Technologies Inc fell over >4% in extended trading after CNBC reported that SoftBank Group Corp is selling about one-third of its stake in ride-hailing company, in part to cover losses on its investment in Chinese ride-hailing company Didi Global Inc (up +10.32% in regular trading).
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Author Morgans Financial Limited
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