What you need to know today
Positive market momentum
All major U.S. indexes advanced Tuesday. The $Dow Jones Industrial Average (.DJI.US)$ had its seventh consecutive day of gains as investors digested better-than-expected corporate earnings. European markets traded higher as well. The benchmark Stoxx 600 index added 0.6% as British grocery delivery firm Ocado surged almost 20%.
Microsoft 365 + $30
$Microsoft (MSFT.US)$ shares popped around 4% to hit an all-time high after the company announced pricing for its new artificial intelligence service. Named Copilot, the service costs an additional $30 per month, on top of the base Microsoft 365 subscription for Office products. Microsoft also announced its Bing Chat can now respond to images.
The other Morgan
$Morgan Stanley (MS.US)$ 's shares jumped 6.45% after the bank reported better-than-expected second-quarter earnings and revenue. Revenue climbed 2% to $13.46 billion, boosted by a 16% increase in wealth management revenue. Profits declined 13% to $2.18 billion from a year earlier, but investors took comfort in CEO James Gorman's comments that the upcoming quarter looks "more constructive."
Banking on Bank of America
Investors pushed $Bank of America (BAC.US)$ shares up 4.42% on the bank's earnings and revenue beat for the second quarter. Both figures were also higher year on year. Profit rose 19% to $7.41 billion while revenue increased 11% to $25.33 billion, helped by a 14% jump in net interest income.
Cautious fund managers
In the past days, we've heard about how the S&P 500 may hit a record high this year amid a perpetually postponed recession. But fund managers are still cautious, according to the latest Bank of America Global Fund Manager Survey. This is how managers are allocating their investments, and the assets they are worried about.
All major U.S. indexes advanced Tuesday. The $Dow Jones Industrial Average (.DJI.US)$ had its seventh consecutive day of gains as investors digested better-than-expected corporate earnings. European markets traded higher as well. The benchmark Stoxx 600 index added 0.6% as British grocery delivery firm Ocado surged almost 20%.
Microsoft 365 + $30
$Microsoft (MSFT.US)$ shares popped around 4% to hit an all-time high after the company announced pricing for its new artificial intelligence service. Named Copilot, the service costs an additional $30 per month, on top of the base Microsoft 365 subscription for Office products. Microsoft also announced its Bing Chat can now respond to images.
The other Morgan
$Morgan Stanley (MS.US)$ 's shares jumped 6.45% after the bank reported better-than-expected second-quarter earnings and revenue. Revenue climbed 2% to $13.46 billion, boosted by a 16% increase in wealth management revenue. Profits declined 13% to $2.18 billion from a year earlier, but investors took comfort in CEO James Gorman's comments that the upcoming quarter looks "more constructive."
Banking on Bank of America
Investors pushed $Bank of America (BAC.US)$ shares up 4.42% on the bank's earnings and revenue beat for the second quarter. Both figures were also higher year on year. Profit rose 19% to $7.41 billion while revenue increased 11% to $25.33 billion, helped by a 14% jump in net interest income.
Cautious fund managers
In the past days, we've heard about how the S&P 500 may hit a record high this year amid a perpetually postponed recession. But fund managers are still cautious, according to the latest Bank of America Global Fund Manager Survey. This is how managers are allocating their investments, and the assets they are worried about.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
