The Dow Jones records its longest daily winning streak in 4 years
US indices closed with slight gains in Wednesday’s session as a result of a decline in Microsoft’s stock and amid anticipation of the latest round of corporate financial results.
The trading volume on US stock exchanges amounted to 10.98 billion shares, compared to an average of 10.57 billion during the last 20 trading days.
The performance of the main US indices:
The Dow Jones index rose by 0.3%, equivalent to about 109 points, achieving the eighth daily rise in a row, to record the longest series of daily gains in nearly 4 years.
The S&P 500 index rose by 0.2%, achieving its third daily rise in a row, supported by the rise of the banking index by 1.7%.
While the Nasdaq Composite Index closed flat after losing its early gains, pressured by the 1.2% decline in Microsoft’s share in Wednesday’s session.
AT&T stock:
AT&T shares jumped more than 8% in Wednesday’s session, achieving its highest daily gain in more than 3 years.
The gains came after the carrier said it did not intend to immediately remove lead cables from Lake Tahoe pending further analysis.
AT&T shares this week hit a 30-year low after analysts downgraded it following a July 9 report from the Wall Street Journal that AT&T and other telecom companies left toxic lead cables on poles, underwater and buried underground.
Apple stock
Apple shares rose by 0.7% in Wednesday’s session, setting a new record closing, adding about $22 billion to its market value in one day.
The gains followed media reports that Apple was working on AI offerings similar to ChatGPT and Bard.
Reports stated that the iPhone maker has built its own framework, known as “Ajax”, and is also testing a chatbot that some engineers call “Apple GPT”.
