South Korea’s Kospi index jumps more than 16% on a surge of chipmaking stocks - apnews.com
U.S. stocks finished a volatile July with gains, driven by strong earnings from Amazon and optimism surrounding AI investments. Despite these gains, concerns remain regarding inflation and the sustainability of the chipmaker stock rally.
Why it matters
Market performance and AI-driven investment trends significantly impact global economic stability and investor sentiment.
Add AP News as your preferred source to see more of our stories on Google. --> Share
NEW YORK (AP) — U.S. stocks rose Friday to finish a wild July for Wall Street as Amazon leaped, Apple sank and rising oil prices worsened worries about inflation staying high.
The S&P 500 climbed 0.7% after veering between gains and losses through the day. The Dow Jones Industrial Average added 276 points, or 0.5%, and the Nasdaq composite rallied 1% after briefly losing all of an early 1.3% jump.
It’s a fitting finish to July for the U.S. stock market, which lurched up and down as oil prices shot higher because of the war with Iran and worries grew about whether Big Tech’s massive investments in artificial-intelligence technology will translate into profits and whether chipmaker stocks soared too high in the euphoria around AI.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in