Apple Inc.Inflation slowdown and Fed dovishness lower rate-hike fears, boosting megacap tech stocks like Apple.
U.S. stocks extended their gains on the 15th, with the Dow Jones Industrial Average closing 150.37 points higher, up 0.29 percent. The U.S. June Producer Price Index unexpectedly fell month-on-month, and New York Fed President John Williams suggested inflation may have peaked, pushing long-term interest rates lower and easing concerns over further rate hikes. Investors also rotated out of some semiconductor stocks and into members of the Magnificent Seven, including Apple, Amazon, Alphabet, and Meta, providing an additional boost. The tech-heavy Nasdaq Composite rose 0.62 percent, and the S&P 500 also advanced, with all three major indexes posting back-to-back gains.
Apple Inc.Inflation slowdown and Fed dovishness lower rate-hike fears, boosting megacap tech stocks like Apple.
Amazon.com IncInflation slowdown and Fed dovishness lower rate-hike fears, boosting megacap tech stocks like Amazon.
Alphabet Inc Class CInflation slowdown and Fed dovishness lower rate-hike fears, boosting megacap tech stocks like Alphabet.
Meta Platforms Inc.Inflation slowdown and Fed dovishness lower rate-hike fears, boosting megacap tech stocks like Meta.