Quarterly results of US tech companies pushed the equity indices to the higher grounds on Friday`s trading session. Meta earnings beat market expectations, based on which shares of this company soared by 21%. Another news that impacted strong demand for this stock is its announcement that it will pay a quarterly dividend. This would be the first time in history of this company that dividends will be paid out. At the same time, the company will start its program for buying back $50 billion worth of shares. On the opposite side, Tesla (TSLA) shares made a modest come-back of 1.4% for a week, after quite a challenging month in which the shares lost 24% of their previous value.
Apple (APPL) also posted quite good results for the fiscal first-quarter. However, the company showed that there has been a 13% drop in phone sales in China. As this market represents one of the most important markets for Apple, its shares dropped by 4% in value.
During the previous week the S & P 500 reached the level of 4.972, which is a new ATH since the beginning of this year. The index is currently moving within the strongly overbought momentum, supported by both good US economic output and earnings of companies included in the index. Some relaxation could be expected during the following period, however, there is also some probability that S&P 500 might target the 5.000 level within the next move.
Apple (APPL) also posted quite good results for the fiscal first-quarter. However, the company showed that there has been a 13% drop in phone sales in China. As this market represents one of the most important markets for Apple, its shares dropped by 4% in value.
During the previous week the S & P 500 reached the level of 4.972, which is a new ATH since the beginning of this year. The index is currently moving within the strongly overbought momentum, supported by both good US economic output and earnings of companies included in the index. Some relaxation could be expected during the following period, however, there is also some probability that S&P 500 might target the 5.000 level within the next move.
