US indices finished yesterday’s trading higher in spite of a miss in US GDP growth for Q2 2022. S&P 500 added 1.21%, Dow Jones gained 1.03% and Nasdaq moved 1.08% higher. Russell 2000 traded 1.34%

US index futures rallied further in the after-hours trading following solid earnings releases from Apple and Amazon. On the other hand, report from Intel disappointed

Amazon rallied over 13% in the after-hours trading. Company reported revenue at $121.2 billion (exp. $119.1 billion) with AWS cloud sales coming in at $19.74 billion. Company reported an unexpected loss per share of $0.20 due to a $3.9 billion realized loss on Rivian investment. Amazon expects Q3 2022 revenue to reach $125-130 billion

Apple traded 3% higher in the after-hours trading. Company reported revenue at 83 billion (exp. $82.8 billion) and EPS at $1.20 (exp. $1.16). Sales of iPhones and services were higher year-over-year while sales of Mac and IPads dropped. Apple said it expects revenue growth to accelerate in Q3 2022

Intel dropped over 8% in the after-hours trading. Company reported a 16% YoY drop in sales to $15.3 billion (exp. $17.9 billion). Adjusted EPS was also much lower than expected at $0.29 (exp. $0.69). Intel said that decline in economic activity played a major role

Moods during the Asian session were mixed – S&P/ASX 200 and Kospi gained while Nikkei and indices from China dropped

DAX futures point to a higher opening of the European cash session

Taiwan was one of the key topics during the Biden-Xi phone call yesterday. However, two leaders discussed range of other topics as well, including areas of cooperation and possible face-to-face meeting of leaders of China and the United States

Japanese industrial production jumped 8.9% MoM in June (exp. 3.7% MoM) while retail sales were 1.4% MoM lower (exp. +0.8% MoM)

Cryptocurrencies are trading mostly higher. Bitcoin gains 0.5% higher while Dogecoin moves 2.5% higher. Ethereum is a laggard with 0.6% drop

Oil is trading slightly lower today with WTI and Brent dropping around 0.4% each at press time

Precious metals benefit from USD weakness. Gold adds 0.5% and trades near $1,765 per ounce

JPY and CHF are the best performing major currencies while USD and CAD lag the most

Solid results from Amazon and Apple provide fuel for another move higher on Wall Street in the after-hours trading. S&P 500 (US500) attempts to make a break above the 4,100 resistance zone at press time.