US stocks record strong gains in July

Union

US stocks record strong gains in July

Sharif Adel (Washington)

US company results for the second quarter of the year, the Nasdaq and S & P 500 US stock indexes, reached record highs in the July approach, coinciding with the likely interest rate by the Federal Reserve this week. To increase investor confidence, reopen their appetite for buying shares, in addition to the announcement of US trade negotiators to hear about going to Shanghai next week to resume trade negotiations.
NASDAQ finished up 1.1%, recording 8330.21 points for the first time in its history, and the S & P rose 0.7% to 3025.86.
Despite the slowdown in US economic growth during the quarter, the US stock index, the Nasdaq and the S & P 500, reached record highs, supported by technology stocks, as well as by some traditional US companies such as than Coca-Cola and McDonald's.
The last week of the week began with the announcement by the Ministry of Commerce of achieving GDP growth at an annualized rate of 2.1%, up from 3.1% in the first quarter, versus more than 3 % in 2018, which President Donald Trump hopes to repeat this year. Because of the reduction in business investment spending, in the context of the US-China trade war.
Despite modest growth and the announcement last week by the US Department of Justice to open the file of giant technology companies to reveal their monopolistic practices to reduce competition and ensure the control of the market, many shares continued to climb at the end of transactions, For the second quarter.
Shares of Alapabet (Google) grew 9.6%, up 9.6% in one day, after recording 19% growth in revenues and $ 9.9 billion in earnings. quarter, of which more than 2.7%. Billions of profits from the company's investment operations.
Last week, Facebook posted a net profit of $ 2.6 billion in the second quarter, up 28% from the same period last year. Amazon, the supermarket giant, grew 3.6% to $ 2.63 billion. And its revenues increased by 20% to $ 63.4 billion, which allowed both stocks to skyrocket.
Shares of McDonald's reached a record $ 218.25 on Friday after the company achieved revenue of more than $ 5.34 billion during the quarter, thanks to the company's promotions ,.