Global Market Round Up || Did Facebook Inc. Double Its Net Profit During The March Quarter?

This is the global markets roundup. So lets have a look at the US marker performance.

• US Stocks End Higher On Strong Corporate Earnings, GDP Growth

• All the major U.S. stock market benchmark indexes closed higher on April 29 following strong earnings update from corporates including Apple and Facebook, and the data on GDP expansion for the first three months of the year.

• The S&P 500 gained 28 points while the Dow Jones Industrial Average and the NASDAQ Composite Index added 240 points and32 points respectively on Thursday.

• The S&P 500 declined marginally by 0.68 percent to 4,211.47. The Dow was up 0.71 percent to 34,060.36. The NASDAQ Composite Index rose 0.22 percent to 14082.55 to 14,051.03 while the small-cap Russell 2000 dropped 0.38 percent to 2,295.46.

• Technology giant Apple Inc.’s fiscal second quarter net profit soared to US$23.63 billion from US$11.25 billion in the year-ago period. A 66 percent growth in iPhones revenue drove the company’s total revenues to US$89.58 billion, up 54 percent year over year.

• Facebook Inc. said its revenue during the fiscal third quarter ended March jumped 48 percent year over year to US$26.17 billion. The company’s net profit almost doubled to US$9.5 billion from US$4.9 billion.

• Mastercard and McDonald’s also reported strong growth in their March quarter earnings.

• Meanwhile, the U.S. saw its GDP grow at a seasonally adjusted annual rate of 6.4 percent in the first quarter 2021, the government said on Thursday. This strong impetus in the economy reflects the increased consumer spending, a key factor of GDP growth.

• Amazon and Twitter are slated to announce their results for their latest quarter today.

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