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Apple surpasses Saudi Aramco as the most valuable public company
Euro registered month since September 2010, reaching a maximum of 2 years
Silver record month since 1982
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By Lawrence Delevingne and Herbert Lash
BOSTON / NEW YORK, July 31 (Reuters) – Strong profits from U.S.-generation corporations pushed Wall Street upwards, but ECU shares fell Friday amid doubts about the economic recovery of the coronavirus pandemic, while the dollar rose and still records its worst month in a decade.
Oil costs increased, given the announcement that U.S. production cuts In May they were the largest recorded, while gold near its all-time high helped a weaker dollar and disastrous economic figures that triggered a security rush.
The dollar has weakened as the US Federal Reserve is expected to be forced into its ultra-soft financial policy for years, a policy noticed as degrading to the currency.
Energy shares fell sharply after Chevron Corp reported a loss of $8.3 billion in asset repayments and ExxonMobil Corp recorded a direct quarterly loss.
Apple Inc’s inventories reached a final peak record of $425, a 10.5% profit on the day, following strong quarterly effects on Thursday, and a four-by-one inventory split announcement. The increase has led the iPhone manufacturer to surpass Saudi Aramco as the most valuable public company in the world.
Amazon.com and Facebook Inc’s gains also helped pull Wall Street indices out of initial losses after quarterly results.
“The concentration at the end of the day was based on this insatiable call for those expansion corporations that reported off-list profits. It’s worrying about being left behind,” said Tim Ghriskey, Leading Investment Strata at Inverness Counsel in New York.
The MSCI Global Stock Index, which tracks stocks in 49 countries, unchanged in 551.89, fished through European stocks, which recorded their first monthly decline since a massive sale on the market in March due to the development of recovery doubts.
On Wall Street, the Dow Jones Industrial Average increased 114.67 points, or 0.44 consistent with the penny, at 26428.32, the SP 500 earned 24.9 points, or 0.77%, to 3271.12 and the Nasdaq Composite added 157.46 points, or 1.49%, to 1 0745.28.
The dollar index, which tracks the opposite of a six-currency basket, rose 0.446 points, or 0.48 consistent with the penny, to 93,467.
The euro peaked in more than two years and recorded its month since September 2010, raising fears that its relative strength could penetrate European exporters.
U.S. government negotiations Some other coronavirus relief bills were not yet on the way to an agreement, U.S. House Speaker Nancy Pelosi said Friday. She spoke just before the expiration of federal unemployment to gain advantages that are a must-have lifeline for millions of Americans.
U.S. Treasury bonds At 10 years, base emissions fell 0.8 for a yield of 0.5331%.
The overall budget reduced equity holdings in July to a minimum of four years and advised keeping bond allocations unchanged since June, a Reuters vote.
The pan-European STOXX six-hundred index gave up its first profits to close at 0.9%, under pressure from a weak opening on Wall Street.
The eurozone economy recorded its biggest contraction ever recorded in the quarter, according to early Estimates on Friday, while block inflation increased in July.
These figures overshadowed china and Japan’s production knowledge.
The largest MSCI index of Asian outdoor equities Japan fell by 0.3%. Japan’s Nikkei fell by 2.82% as the yen’s appreciation has been on exporters.
China’s top CSI300 index closed with a 0.84% hike, its highest monthly gain since February 2019, 12.8% more.
Crude oil recovered from a night depression. U.S. crude oil futures rose 35 cents to $40.27 a barrel, while Brent futures rose 37 cents to $43.31 a barrel.
Gold rose, with costs rising by 10% in the month. Cash added 0.7% to $1,972.83 an ounce. U.S. gold futures rose 1.54% to $1972.30 an ounce, just below the record levels set earlier in the week when the bullion approached the $2,000 mark.
Silver rose 3.2% to $24.3 an ounce, its highest monthly gain since 1982, backed by investment and commercial demand.
(Reporting through Lawrence Delevingne in Boston and Ritvik Carvalho in London; edited through Dan Grebler and Herb Lash)