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Wall Street Rebounds on Strong AI Earnings Amid Persistent Bond Market Tension


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Here is the New York stock market.

The three major U.S. stock indices rebounded simultaneously.

The Nasdaq recovered the 25,000 level for the first time in five trading days, while the S&P 500 and the Dow Jones Industrial Average both gained over 1%.

By sector, technology stocks stood out with a surge of 5%, followed by materials with an increase of over 2%.

Driving the market today (the 31st) were strong earnings reports from major corporations that proved their performance in the AI sector.

Microsoft soared more than 15% after demonstrating the rapid growth of its core cloud business, Azure, and the monetization of its AI services, while the Philadelphia Semiconductor Index also jumped by over 8%.

Amazon, which released its earnings after the market closed, is also trading more than 9% higher in after-hours trading, driven by strong performance in its cloud division.

However, caution surrounding the bond market remained.

As doubts were not completely resolved over whether the Federal Reserve can definitively control future inflation, the yield on the 30-year Treasury bond broke through 5.2%.

Meanwhile, the U.S. second-quarter real GDP growth rate, released on the same day, came in at 1.5%, falling short of market expectations and showing a somewhat slowing growth trend.

The personal consumption expenditures (PCE) price index for June recorded a decline compared to the previous month, easing consumers' price burdens.

Earnings reports for ExxonMobil and Chevron are scheduled for tomorrow.

※ Please note: This article was translated by AI and may contain errors.
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