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Summary
Alphabet and Microsoft Earnings fueled by AI growth
XLE continued growth
Apple Rebound??
The Market
It was a solid week for markets, with the S&P 500 growing 2.26% and the Dow Jones growing 0.32%. This relief comes from a tumultuous few weeks for the markets.
Alphabet reported earnings on the 25th. Their revenue increased 15% in the last year. Fueled by increasing AI innovation within the company and its outstanding earnings report, stock prices shot up. Alphabet also announced that they would start paying $0.20 dividends to shareholders, further driving up stock prices. Microsoft also reported earnings on the 25th, their Azure cloud-computing revenue grew by 31%. Microsoft's growth was also fueled by their continued investment in AI. Their great earnings led their stock to grow as well.
Energy ETF XLE had a good week this week, growing 1.26%. We expect this upward trend to continue and to break $100 in the coming weeks. So we are bullish on XLE as of now.
Apple grew 2.14% this week. Last week it broke its support at $167 but has rebounded since, at around $164. We are considering this a new support, and hope to see continued growth in Apple: peaking at around $177.
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