Apple and Amazon Earnings Help Wall Street

On Friday, investor sentiment improved thanks to the earnings from the two major technology companies Apple and Amazon. The big technology companies gave the market a jolt. The share price of Apple Inc. (NASDAQ:AAPL) increased by 3.5 percent after the company announced favorable profits, and the share price of Amazon.com Inc. (NASDAQ:AMZN) increased by 11 percent after the company issued a positive outlook.

Roku Inc (NASDAQ:ROKU) earnings emphasized a slowdown in advertising that is projected to impair the current quarter as well. As a result, the shares of Roku Inc fell by 24 percent.

Both Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX) reported record profits on the back of strong energy prices, which contributed to the rise in their respective stocks. Exxon Mobil Corp (NYSE:XOM) stock gained 4%, while Chevron Corp (NYSE:CVX) stock gained 8%.

Following the release of a dismal earnings report that indicated a decline in demand for personal computers, shares of Intel Corporation (NASDAQ:INTC) dropped by 8%. Despite the successful passing of a plan that includes $52 billion to enhance manufacturing of chips in the United States, shares fell.

After the consumer goods manufacturer Procter & Gamble Company (NYSE:PG) forecasted its lowest sales growth for the last three years and indicated that rising commodity and freight prices as well as foreign exchange would impact on results, the company’s shares dropped by five percent.