Agencies-Gaza post
Strong monthly gains for Wall Street stocks
U.S. stocks extended their recent rally on Friday after optimistic forecasts from Apple and Amazon, and the S&P 500 and Nasdaq posted their biggest monthly gains since 2020.
Most S&P 500 sectors rose at the close. The energy sector was higher after Chevron and Exxon shares jumped after the companies reported record quarterly revenue.
Apple shares rose after the company said spare parts shortages were declining and that demand for iPhones was continuing. Amazon shares jumped after expecting third-quarter revenue to rise.
Stocks also rose this week due to investors’ speculation that the Federal Reserve might not need to continue to raise interest rates as strongly as some had feared.
According to preliminary data, the S&P 500 increased by 58.05 points, or 1.43 percent, to close on 4,130.48 points, while the Nasdaq Composite rose 225.81 points, or 1.86 percent, to 12,388.40. The Dow Jones Industrial Average rose 323.51 points, or 0.99 percent, to 32,853.14.
