Wall St climbs as strong earnings offset Amazon slowdown worries
newscatcher
2023-04-30 17:32
Wall St climbs as strong earnings offset Amazon slowdown worries
US stock indexes gained on Friday after strong earnings updates from Exxon and Intel dwarfed worries over Amazon's slowdown warning, while economic data bolstered expectations that the Federal Reserve would hike interest rates next week. Exxon Mobil Corp rose 2.2% to hit an all-time high as the energy major reported a record first-quarter profit on rising oil and gas output, aiding a near 2% advance in the S&P energy index. Chipmaker Intel Corp gained 4.6% after it said gross margins will improve in the second half of the year.

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