#Amazon #Charter #Communications #Apple
Key takeaways
- US stocks opened November on a positive note and were rising at midday, with technology stocks lifted by Amazon’s earnings.
- Charter Communications beat earnings and sales estimates as it lost fewer customers than expected.
- Apple reported weak sales in China, and its shares fell.
US stocks started the new month with strong midday gains, with the technology sector getting a boost from Amazon’s strong earnings news. The weaker-than-expected jobs report also sparked optimism about future interest rate cuts from the Federal Reserve. The Dow Jones Industrial Average, S&P 500 and Nasdaq rose about 1%.
Amazon beat earnings and sales estimates as its cloud and advertising revenues grew.
Shares of Charter Communications (CHTR) jumped after the cable TV, mobile and Internet services provider reported better-than-expected results as it lost fewer subscribers than expected.
Shares of Atlassian ( TEAM ) rose when the provider of software and services for developers and project managers also reported results that beat expectations and raised its guidance on higher subscriptions driven by demand for artificial intelligence (AI) technology.
Apple (AAPL) shares fell as the iPhone maker’s sales slowed in China.
Wayfair (W) shares fell after the online home furnishings retailer lost customers, order totals and orders from repeat customers fell.
Amcor (AMCR) shares fell when the global packaging company missed earnings and revenue estimates due to unfavorable pricing/mix and foreign exchange rates.
Oil and gold futures rose. The yield on 10-year Treasury bonds rose. The US dollar rose against the euro and the yen, but lost strength against the British pound. The prices of most major cryptocurrencies were lower.
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#Amazon #Charter #Communications #Apple
