On the 31st (local time), the New York stock market finished higher. Investor sentiment toward tech stocks revived after Amazon reported strong earnings.
On the New York stock market that day, the Dow Jones Industrial Average finished at 52,485.03, up 276.97 points, or 0.53%, from the previous session.
The Standard & Poor's (S&P) 500 index closed at 7,489.72, up 52.09 points, or 0.70%, from the previous session, while the tech-heavy Nasdaq composite ended at 25,373.85, up 251.68 points, or 1.00%.
Amazon shares surged 15.32%. After the close the previous day, the company said in its earnings release that quarterly revenue topped $200 billion for the first time, driven by growth in its cloud business.
Microsoft (MS), which released earnings a day earlier, also said quarterly revenue in its cloud institutional sector rose 43% from a year earlier, the fastest growth since early 2022, sending the stock up 15% the previous day. Microsoft rose another 3.02% that day.
Apple plunged 7.35% as concerns grew that supply chain constraints from higher memory prices would hinder growth. There were worries that iPhone price hikes reflecting higher memory prices would lead to weaker consumer demand.
SK hynix American depository receipts (ADR), which had jumped 17.5% the previous day, fell 3.54% at the close that day.