Leading market optimism as S&P makes a weekly advance with the lowest inflation level since March 2021 are Alphabet, Amazon, Microsoft, and major banks.

The Nasdaq Composite experiences huge gains thanks to Alphabet, the parent company of Google, while the Dow Jones also rises.

Thanks to Alphabet, the parent company of Google, the Nasdaq Composite has seen significant gains and is predicted to close the week with a stunning 3.36% gain.

The tech-heavy index has benefited from Alphabet’s excellent performance and the positive market view of the company.

Symbol

Company

Price

Change

GOOG

Alphabet Class A

$98.96

0.7

Market Cap

$1.96T

  

Volume

27.8M

  

P/E Ratio (TTM)

22.8

  

EPS (TTM)

$4.33

  

Dividend Yield

0.50%

  

The Dow Jones Industrial Average, which increased by 2.36% throughout the course of the week, also had a significant rising trend.

The rising Dow Jones reflects the broad market confidence and the robust economy.

Symbol

Company

Price

Change

GOOGL

Alphabet Inc.

$99.35

0.71

Market Cap

$1.97T

  

Volume

23.9M

  

P/E Ratio (TTM)

22.9

  

EPS (TTM)

$4.34

  

Dividend Yield

0.50%

  

The Nasdaq Composite’s market dominance by Alphabet and encouraging inflation statistics both contribute to the S&P 500 Index’s rise of 2.48%.

Additionally, there has been a noticeable increase in the S&P 500 index, which finished the week up 2.48%.

The positive inflation numbers have caused the index to increase, which has also boosted investor confidence and helped the market move in the correct direction.

The heavily weighted Nasdaq Composite index’s top gainers this week were led by Alphabet, the parent company of Google.

Both the company’s introduction of AI search engine assistance and favorable inflation figures result in an increase in its share price.

The price of the company’s shares rose when it was announced that Bard, its AI search engine assistant, had gone live in Europe and Brazil.

Investors were pleased with the Consumer Price Index (CPI), which revealed the lowest level of inflation since March 2021 at 3%—below the 3.1% average forecast of experts.

This was a significant drop of one percentage point from the 4% in May.

Compared to the 0.2% economists had projected, the Producer Price Index (PPI) and core PPI, which exclude volatile food and energy prices, grew by only 0.1% in June.

Ripple Labs has prevailed in a legal conflict as a consequence of a U.S. judge rejecting the SEC’s allegations about the selling of XRP coins.

When a U.S. judge ruled that, in contrast to the Securities and Exchange Commission’s (SEC) assertions, the company’s sale of XRP tokens did not constitute an offer of investment contracts, Ripple Labs achieved a key victory in the world of cryptocurrencies.

Ripple was accused by the SEC of selling XRP without authorization.

Symbol

Pair

Price

Change

XRP

USD

$0.3203

-$0.0369

Market Cap

$15.34B

  

Volume

2.63B

  

Wells Fargo shares increase as a result of encouraging earnings reports and the Ripple decision setting a precedent for cryptocurrency startups.

Shares of Wells Fargo rise as the upbeat market mood is caused by favorable earnings releases from big banks.

A key precedent is set in the case of XRP currencies, which the organization regards as a security, and it will be important for other cryptocurrency enterprises that are experiencing legal problems.

The markets concluded the week on a high note as a consequence of the main banks’ robust earnings figures, which also contributed to increased investor confidence.

Symbol

Company

Price

Change

WFC

Wells Fargo & Company

$38.72

-0.34

Market Cap

$236.07B

  

Volume

11.2M

  

P/E Ratio (TTM)

10.8

  

EPS (TTM)

$3.62

  

Dividend Yield

2.58%

  

JP Morgan Chase’s results above expectations, leading to a 1.7% weekly gain

Earnings per share for the second quarter were $1.25, above the $1.15 consensus.

Revenues of $20.53 billion, which exceeded forecasts, indicate a 21% YoY gain.

Symbol

Company

Price

Change

JPM

JPMorgan Chase & Co.

$110.83

0.64

Market Cap

$421.89B

  

Volume

15.8M

  

P/E Ratio (TTM)

12.7

  

EPS (TTM)

$9.35

  

Dividend Yield

2.57%

  

Strong EPS and Revenue Growth Help Second-Quarter Earnings Surpass Consensus

Shares of JP Morgan Chase are boosted by strong second-quarter earnings, up 3.25% for the week.

A net revenue of $42.4 billion above expectations, representing a 34.1% year-over-year increase, and beyond the $38.96 billion consensus. Citigroup

Symbol

Company

Price

Change

C

Citigroup

$47.96

-4

Market Cap

$129.47B

  

Volume

24.4M

  

P/E Ratio (TTM)

8.6

  

EPS (TTM)

$5.55

  

Dividend Yield

4.10%

  

Microsoft’s Q2 Net Income Falls 36%, but Weekly Performance Is Still Positive

Even though Q2 net income fell by 36%, Microsoft shares nevertheless fell over the week.

Microsoft’s stock exhibits tenacity despite the decline, maintaining a weekly positive trend amidst other market advances.

Symbol

Company

Price

Change

MSFT

Microsoft

$268.17

0.75

Market Cap

$2.32T

  

Volume

12.4M

  

P/E Ratio (TTM)

26.8

  

EPS (TTM)

$9.98

  

Dividend Yield

0.13%

  

Microsoft Shares Rise Following Federal Judge’s Decision in FTC Lawsuit Despite Concerns Over Activision Blizzard Acquisition

Microsoft shares increase after a federal judge rules in the company’s favour in the FTC lawsuit regarding the acquisition of Activision Blizzard.

The FTC is investigating the $69 billion merger because they believe it might hurt competition in the gambling sector.

The market’s confidence over the result of the litigation and the likelihood that the purchase will be completed successfully can be seen in Microsoft’s stock increases.

Symbol

Company

Price

Change

ATVI

Activision Blizzard

$79.89

0.59

Market Cap

$55.05B

  

Volume

4.4M

  

P/E Ratio (TTM)

18.1

  

EPS (TTM)

$4.39

  

Dividend Yield

0.70%

  

Amazon appeals the FTC lawsuit ruling, citing a possible effect on fair trade

Amazon appeals the FTC lawsuit ruling due to worries about how it may affect fair competition in the video game industry.

The case’s resolution is pending more legal action.

Symbol

Company

Price

Change

AMZN

Amazon.com

$116.55

0.28

Market Cap

$1.14T

  

Volume

3.9M

  

P/E Ratio (TTM)

56.2

  

EPS (TTM)

$2.08

  

Dividend Yield

0.30%

  

Amazon’s “Prime Day” Breaks Sales Records and Increases by 13% from the Previous Year

Comparing this year’s “Prime Day” to the previous year’s event, there was a 13% rise.

The first day of the event was the biggest sales day the firm has ever had, with sales totaling almost $12.1 billion in gross merchandise value.

Additionally, throughout the event, more than 375 million goods were sold.

Important Reports and Earnings Releases to Watch for Economic Insights Next Week

Tuesday’s release of the “June retail sales report” will reveal if the good macroeconomic news is translating into higher consumer spending across the board.

It offers insightful data on the state of the retail industry and customer mood.

The “existing home sales report” and “June housing starts” reports, which were made public on Wednesday and Thursday, respectively, offer information on the housing market.

They provide information about current house sales and housing building activities, which can be indicators of consumer confidence and economic progress.

The release of earnings reports by Interactive Brokers and other major banks is scheduled.

Next week, Interactive Brokers and other significant banks and financial organizations will continue to deliver their quarterly results reports.

Symbol

Company

Price

Change

IBKR

Interactive Brokers

$72.74

-1.31

Market Cap

$25.75B

  

Volume

1.2M

  

P/E Ratio (TTM)

22.5

  

EPS (TTM)

$3.22

  

Dividend Yield

0.20%

  

On Monday, prominent banks and financial firms including Interactive Brokers, Bank of America, and others will all issue their own reports.

BAC TABLE

Symbol

Company

Price

Change

BAC

Bank of America Corporation

$34.29

-1.89

Market Cap

$335.56B

  

Volume

25.6M

  

P/E Ratio (TTM)

10.9

  

EPS (TTM)

$3.17

  

Dividend Yield

2.20%

  

Morgan Stanley 

MS TABLE

Symbol

Company

Price

Change

MS

Morgan Stanley

$85.51

-0.49

Market Cap

$149.85B

  

Volume

6.4M

  

P/E Ratio (TTM)

10.3

  

EPS (TTM)

$8.27

  

Dividend Yield

2.30%

  

The Charles Schwab Corporation

SCHW TABLE

Symbol

Company

Price

Change

SCHW

Charles Schwab Corporation

$49.52

-2.35

Market Cap

$110.18B

  

Volume

6.2M

  

P/E Ratio (TTM)

17.5

  

EPS (TTM)

$2.83

  

Dividend Yield

0.72%

  

will report Tuesday. Lockheed Martin Corp to Release Earnings on the Same Day 

LMT TABLE

Symbol

Company

Price

Change

LMT

Lockheed Martin Corporation

$464.23

-2.15

Market Cap

$117.566B

  

Volume

469,622

  

P/E Ratio (TTM)

21.25

  

EPS (TTM)

N/A

  

Dividend Yield

2.60%

  

and pharmaceutical colossus Novartis AG 

NVS TABLE

Symbol

Company

Price

Change

NVS

Novartis AG

$98.92

59.00%

Market Cap

$209.672B

  

Volume

954,181

  

P/E Ratio (TTM)

30.16

  

EPS (TTM)

N/A

  

Dividend Yield

3.50 (3.58%)

  

Tech Giants Set to Release Earnings Reports on Wednesday, Including Tesla

TSLA TABLE 

Symbol

Company

Price

Change

TSLA

Tesla

$281.38

348.00%

Market Cap

$880.81B

  

Volume

136M

  

P/E Ratio

81.98

  

EPS

$3.40

  

Netflix 

NFLX TABLE

Symbol

Company

Price

Change

NFLX

Netflix

$450.38

-1.88%

Market Cap

$197.66B

  

Volume

2.2M

  

P/E Ratio

98.52

  

EPS

$11.22

  

IBM

IBM TABLE

Symbol

Company

Price

Change

IBM

International Business Machines

$133.92

-0.39%

Market Cap

$121.61B

  

Volume

504,562

  

P/E Ratio

67.81

  

EPS

$1.96

  

Dividend Yield

4.99%

  

and semiconductor producer ASML Holding NV

ASML TABLE

Symbol

Company

Price

Change

ASML

ASML Holding

$744.80

0.44%

Market Cap

$257.22B

  

Volume

3.5M

  

P/E Ratio

36.2

  

EPS

$20.63

  

Dividend Yield

0.60%

  

Goldman Sachs

GS TABLE

Symbol

Company

Price

Change

GS

Goldman Sachs

$328.33

-0.76%

Market Cap

$102.78B

  

Volume

4.6M

  

P/E Ratio

11.2

  

EPS

$29.31

  

Dividend Yield

1.50%

  

also announce financial results on that day. Taiwan Semiconductor Manufacturing Company, a leader in semiconductors, will report earnings on Thursday.

MARKET CAP TABLE

Symbol

Company

Price

Change

Market Cap

$566.90B

  

Volume

13.4M

  

P/E Ratio

24.3

  

EPS

$4.14

  

Dividend Yield

1.30%

  

will release its research alongside healthcare giants Johnson & Johnson, Abbott Laboratories, and SAP SE

SAP TABLE

Symbol

Company

Price

Change

SAP

SAP SE

$106.45

0.26%

Market Cap

$148.92B

  

Volume

2.3M

  

P/E Ratio

23.1

  

EPS

$4.57

  

Dividend Yield

2.70%

  

American Express Company

AXP TABLE

Symbol

Company

Price

Change

AXP

American Express

$140.11

-0.49%

Market Cap

$120.83B

  

Volume

5.2M

  

P/E Ratio

18.5

  

EPS

$7.57

  

Dividend Yield

1.60%

  

Week of Financially Heavily Earnings to End on Friday with Taiwan Semiconductor Manufacturing Company

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