Global Market Trend As Of July 29th, 2022

Analyst's Views

U.S Market, the U.S. bourses continued with a positive performance at Thursday trading riding on the back of mixed earnings from listed companies and the recent 0.75% FED Hike rate thereby lifting the market across the board.

Amazon, on Thursday reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher. The Seattle-based e-commerce giant lost $2.03 billion, or 20 cents per share, in the three-month period ended June 30, driven by a $3.9 billion write-down of the value of its stock investment in electric vehicle start-up Rivian Automotive.

But Wall Street was cheered by Amazon's $121.2 billion in revenue, topping expectations of $119 billion. The results came as the company attempts to navigate shifting consumer demand and higher costs, while curtailing the glut of warehouses it acquired during the COVID-19 pandemic.

Ford,  Ford Motor Co.'s net income rose 19% in the second quarter as the company pulled together enough computer chips to boost factory output and sales. The Dearborn, Michigan, automaker said Wednesday it made $667 million from April through June. Adjusted earnings per share were 68 cents, beating Wall Street estimates of 45 cents, according to FactSet. 

Revenue was $40.19 billion, also beating analyst estimates of $36.87 billion.

Apple, beat Wall Street estimates on earnings and set a new revenue record for the third quarter of its 2022 fiscal year, posting strong results despite ongoing chip shortages and supply chain challenges.

The iPhone maker reported revenue of $82.959 billion for the quarter ending in June, up 2% year over year and a new high that surpassed Refinitiv analysts' forecast of $82.81 in Q3.

The company posted earnings per diluted share of $1.20, besting expectations of $1.16.