U.S. stock index futures jumped on Wednesday, pointing to a strong open for Wall...
- U.S. stock index futures jumped on Wednesday, pointing to a strong open for Wall Street as Apple Inc’s stellar results and forecast allayed concerns about slowing growth in corporate profits.
The company also announced plans for a new $75 billion share buyback and bumped up its cash dividend by 5%. Besides a largely better-than-expected earnings season, recent gains in shares have also been powered by positive economic data, a dovish Federal Reserve and hints of progress in U.S.-China trade talks.
Among other stocks, Advanced Micro Devices Inc jumped 5.1% after the chipmaker’s quarterly revenue and profit beat Wall Street estimates as it sold more chips in data centers and servers. Other chip stocks also rose with Nvidia Corp, Qualcomm Inc and Micron Technology Inc up between 1% and 1.6%.
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