![]() "Apple's really the lone star, if you will, of the mega-cap tech stocks," Hatfield said. He said the market was also boosted by oil giants Chevron and Exxon Mobil, up about 1.2% and 2.9%, respectively, after both reported beating expectations before the bell. The tech giant reported weaker-than-anticipated iPhone revenue on Thursday, but beat Wall Street estimates for quarterly earnings and revenue.Īpple and other more positive performers, like Intel, have given investors footholds within what some see as a particularly tumultuous tech sector, subsequently providing upward pressure to the tech-heavy Nasdaq, said Jay Hatfield, CEO of Infrastructure Capital Management. "When you have that middle of the road, that helps equity markets."Īmazon plunged by 6.8% after the company posted weaker-than-expected quarterly revenue and issued disappointing fourth-quarter sales guidance Thursday. The earnings have been not great, but not awful," said Megan Horneman, chief investment officer at Verdence. ![]() economy can skirt a recession.Īt the same time, investors have found hope in data that came out over the course of the week indicating inflation may be easing, increasing optimism that the Federal Reserve could break from its trend of 75 basis point rate hikes after the November meeting. The stock market has fractured this week as investors dumped technology shares following weak results and outlooks from Microsoft, Alphabet and Meta and rotated into economically sensitive stocks that will benefit if the U.S. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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