Market Bulls Go For Gold

Apple's earnings jump, Trump's tariff threats, Microstrategy's Forbes cover, and more from the day.

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NEWS
Market Bulls Go For Gold

Source: Tenor.com

It was another busy day on Wall Street, with earnings helping lead a rebound that saw every sector close in the green. Trump’s tariff threats began to take shape, shaking forex and commodity markets. Oil stopped its two-week slump, while gold jumped to new all-time highs amid a precious metals resurgence. 👀

Today's issue covers Apple’s earnings jump, Trump’s tariff threats, crypto’s bullishness going mainstream, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with utilities (+2.06%) leading and communication services (+0.10%) lagging.

Source: Finviz.com

And here are the closing prices: 

S&P 500

6,071

+0.53%

Nasdaq

19,682

+0.25%

Russell 2000

2,307

+1.07%

Dow Jones

44,882

+0.38%

EARNINGS
Apple Ramps Up Its Recent Rebound 🍏 

All eyes were on the largest company in the world ahead of its earnings results, with hopes high that it could set the tone for the rest of the market. So far, shares are up marginally after the bell, jumping on management’s guidance.

Earnings per share of $2.40 and revenues of $124.3 billion topped the $2.36 and $124.131 billion expected by analysts. However, its iPhone sales missed estimates by the widest margin since its fiscal 2023 first quarter. 📊 

Here’s how its segments broke down:

Source: CNBC.com

Total revenue growth rose 4% YoY, but iPhone revenue growth remains near the flatline as it has for much of the last few years. Analysts were hoping that its “Apple Intelligence” integration would be a catalyst for the next major iPhone upgrade cycle, but that has not been the case so far. 😐️ 

Source: Finchat.io

Still, investors focused on the positives. Rebounds in other business segments and strength in its high-margin services business helped buoy results as the tech giant develops an iPhone solution. It also pays a $0.25 per share dividend and bought back $30 billion in shares last quarter to reward investors for sticking with it.

Stocktwits sentiment remains in ‘bullish’ territory as investors digest the news. 🐂 

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