As the S & P 500 stock index gradually recovered from the impact of the epidemic crisis and reached a record high, the strength of the U.S. stock market rebound is obvious to all.
The US stock market has been the main beneficiary of the Federal Reserve’s loose monetary policy. Since March, the Federal Reserve has kept the U.S. monetary interest rate close to zero in order to ease the pressure on funds and combat the impact of economic downturn caused by the epidemic.
At present, the market standard expects that the Federal Reserve officials will still maintain a dove stance at the next meeting. US Federal Reserve Chairman Colin Powell will address the impact of monetary policy and the review of the Federal Reserve’s expected policy framework at the Jackson Hole annual global central bank meeting on Thursday.
The S & P 500 rose 0.7% in five days, ending with a fourth straight rally. On Tuesday, the Dow surpassed its all-time high of February 19, ending the fastest bear market rally in history.
Here are three big tech stocks that we are closely following in the coming week, two of which have played an important role in driving the stock index to a new high:
After an important week of market capitalization breaking the $2 trillion mark, apple? NASDAQ:AAPL ?Investors will split their shares 4:1 after the closing on August 24. Shareholders will receive three times more shares on the existing basis, and the split will begin after U.S. stock close on August 31.
Apple weekly chart, source: Yingwei financial situation Investing.com
Apple’s move is aimed at making Apple’s shares affordable to a wider range of investors after the iPhone maker’s share price soared 134% in the past year, rebounding strongly from a sell-off triggered by the outbreak in March.
On Friday, Apple’s shares closed at $497.48, with a market value of $2.12 trillion, making it the first company to reach that milestone. This is Apple’s fifth stock split since it went public in 1980. The last time was in 2014, and before that, it happened in 1987, 2000 and 2005 respectively.
Amazon this week? NASDAQ:AMZN ?The company has just restructured its management team.
On Friday, Amazon named its logistics director, Dave Clark, as its retail chief executive. Earlier, Jeff Wilke, longtime deputy to founder Jeff Bezos, announced plans to retire.
Dave Clark, 47, will head the global consumer division, which is responsible for Amazon’s e-commerce Empire, including retail networks and growing logistics businesses, including inventory and distribution.
Meanwhile, Amazon has appointed Andy Jassy as CEO of Amazon’s cloud computing division for web services.
Weekly chart of Amazon Investing.com
According to media reports, Jeff Wilke was previously considered a potential successor to Bezos, so his announcement of retirement was a “surprise” for the market and Amazon. In an email to all employees, Bezos also announced three new members of the S-Team, including consumer services VP Alicia Boler Davis, vice president of global distribution services John Felton, and VP Dave Treadwell, e-commerce services. The executive team consists of 24 executives who work with the CEO to set out the company’s key issues.
On Friday, Amazon shares closed 0.38% lower at $3284.72.
Salesforce, which sells enterprise software and cloud services to enterprise customers? NYSE:CRM ?(CRM) will announce its quarterly earnings after closing on Tuesday, August 25. The software provider is expected to report revenue of $4.9 billion, or 67 cents a share.
Salesforce weekly chart, source: financial situation Investing.com
Since the company released its latest earnings report at the end of May, the stock has gained 18% and closed at $207.53 on Friday. At the time, the San Francisco based company cut its annual revenue and profit forecasts, suggesting that the recession triggered by the new coronavirus has weakened demand for the software maker’s cloud applications.
The company is a leader in the sales tracking software market, but growth has slowed over time.