(CercleFinance.com) – Apple’s solid results and a weaker-than-expected inflation measure enabled the Dow Jones on Friday to gain 2.6% to 32,862 points (+5.7% on the week) and the Nasdaq Composite to rebound 2.9% to 11,102 points (+2.2% over the week).
The title of the Apple technology firm rose 7.6% the day after the publication of its results for the fourth accounting quarter, which came out above expectations, despite iPhone sales deemed slightly disappointing.
Similarly, Intel soared 10.7% despite worse-than-expected quarterly results as investors focused on the chip maker’s promise of lower costs by 2023.
This good news more than offset the disappointment caused by Amazon (-6.8%), as the e-commerce giant reported lower-than-expected forecasts for the strategic period of the fourth quarter.
Another headline news from the session, Twitter on Friday formalized the filing of a so-called ‘Form 25’ document with the SEC to end the listing of its shares in New York, while Elon Musk finalized the takeover of the microblogging platform.
On the statistical front, operators were able to appreciate a PCE price index up ‘only’ 6.2% in September on an annual basis, a less sharp rise than expected and which could therefore lead the Fed to a somewhat more accommodating.
Other good news on the macroeconomic front, the confidence of American consumers recovered in October, in view of an index of the University of Michigan revised slightly up to 59.9 in the end, after 58.6 in September.