Market Report Jul 26 2023

On Tuesday, the stock market experienced an upward trend, with notable milestones reached in major indices. The S&P 500 and DJIA hit a 52-week high. Of particular significance, the DJIA has been the laggard for the last year, has extended its winning streak to 12 consecutive sessions.

The catalyst behind this current positive market sentiment seems to be corporate earnings results, particularly with mega-cap tech companies and AI-related companies.

US sectors were mixed at the close and in Europe, FTSE 100 and DAX closed slightly positive while CAC closed around the same percentage negative.

MSFT and GOOGL reported their earnings shortly after the bell and both had a beat. However, one was positive while the other was negative post-earnings.

Javid Shaik

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