U.S. stocks rose on Friday as bumper earnings from Amazon lifted consumer discretionary stocks and data showed that the U.S. economy grew at its fastest pace in nearly four years.
As trade tensions escalate between Washington and Beijing, the U.S. Senate quietly passed legislation on Thursday that would lower trade barriers on hundreds of items made in China.
With its focus on innovation and high-growth markets, the semiconductor specialist easily beat expectations in Q2. …read more […]
President Donald Trump said the U.S. economy is on track to reach an annual growth rate of more than 3 percent, as he celebrated a report Friday that the economy expanded in the second quarter at the fastest pace in four years. “As the trade deals come in one-by-one, we’re going to go a lot higher than these numbers, and these are great numbers,” Trump said Friday at the White House. The Commerce Department said Friday that the economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014. …read more […]
Shares of Amazon.com Inc rose 4 percent to hit an all-time high after the online retailing giant’s quarterly profit topped $2 billion for the first time, powered by its best operating margin in 13 years.
U.S. stocks opened higher on Friday as Amazon’s upbeat earnings pushed consumer discretionary stocks higher and as data showed that the U.S. economy grew at its fastest pace in nearly four years.
Exxon Mobil Corp and Chevron Corp, two of the world’s largest oil producers, posted quarterly results far short of Wall Street’s expectations on Friday, sending their shares dropping in morning trading.
U.S. stocks were set to open slightly higher on Friday as Amazon’s robust earnings buoyed the FAANG group of high-flying stocks and data showed that the U.S. economy grew at its fastest pace in nearly four years.
The U.S. economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July.
Bank of America Merrill Lynch downgraded shares of Intel on Friday to “neutral” from “buy.” …read more […]
U.S. President Donald Trump was set to deliver remarks on the economy at the White House at 9:30 a.m. ET (1330 GMT) on Friday after the Commerce Department said the economy grew at its fastest pace in nearly four years during the second quarter.
Higher segment earnings from all segments contributed to the increase in second quarter earnings of Phillips 66 (PSX). …read more […]
U.S. government statisticians say they have addressed a methodology problem, which analysts had argued tended to understate economic growth in the first quarter.
The U.S. economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July.
The dollar pared its earlier gains against a basket of currencies on Friday as data showed the U.S. economy expanded at its fastest clip in nearly four years but they did not quell worries the pace of growth would slow due to tariffs.
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