Sign in Subscribe
Software industry

Midday Stocks Rally in US Markets Amid Intel Corp's Second Quarter Revenues

Strategic Insights

— 1 min read

Investors exhibited optimism at midday on Wednesday, fueling the Standard & Poor's 500 to its biggest rally since 2006, as Intel Corp reported its largest second-quarter revenues in its history. Concurrently, the disappointing retail sales report for June was largely ignored by the market. The technology sector led the charge, with Intel Corp's stock price rising 3.3%, followed closely by Cisco Systems, Hewlett-Packard, and Microsoft Corp, all of which climbed over 1%. The Dow Jones Industrial Average index gained 10.21 points, representing a 0.10% increase from its opening value, while the Standard & Poor's 500 Index gained 0.55 points, representing a 0.05% increase.

Key Takeaways:

  • Intel Corp's stock price climbed 3.3% as the company reported its largest second-quarter revenues in its history.
  • The technology sector led the rally, with Cisco Systems, Hewlett-Packard, and Microsoft Corp rising over 1%.
  • The Dow Jones Industrial Average index gained 10.21 points, a 0.10% increase from its opening value.
  • The Standard & Poor's 500 Index gained 0.55 points, a 0.05% increase from its opening value.
  • Intel Corp's stock price rose $0.80 or 3.81%, adding 5.90 points to the Dow Jones Industrial Average index.
  • Stocks shedding points from the index included Chevron Corp, American Express Co, and Exxon Mobil Corp, which declined 0.75%, 0.88%, and 0.59%, respectively.

Statistics:

  • The Dow Jones Industrial Average index gained 10.21 points, representing a 0.10% increase from its opening value.
  • The Standard & Poor's 500 Index gained 0.55 points, representing a 0.05% increase from its opening value.
  • Intel Corp's stock price rose $0.80 or 3.81%.
  • Cisco Systems, Hewlett-Packard, and Microsoft Corp rose over 1%.
  • The technology sector added 7.80 points to the Dow Jones Industrial Average index.
  • Chevron Corp, American Express Co, and Exxon Mobil Corp declined 0.75%, 0.88%, and 0.59%, respectively.

Sources:

  • ecPulse.com. Provided by Syndigate.info an Albawaba.com company.

Read more