The S&P 500 has reached a new record high, closing at 7,209 after a 1.02% increase yesterday. In early European trading, the Stoxx 600 saw a rise of 1.21%, while the FTSE 100 dropped 0.66%. Meanwhile, the Nikkei 225 in Japan experienced a modest uptick of 0.38%.
Apple's latest earnings call, marking CEO Tim Cook's 89th, resulted in a 2.8% rise in stock during overnight trading, following a 0.44% increase at the market's close. The company reported quarterly revenue of $111.2 billion and raised its sales forecast. Cook introduced John Ternus as his successor, set to take over in September, while maintaining the company's tradition of secrecy regarding upcoming products.
Despite positive economic indicators such as a 2% annual growth in Q1 GDP and a decrease in jobless claims to 189,000, concerns about a potential recession linger, as highlighted by economists. This uncertainty is compounded by Apple’s ongoing capital expenditure challenges, with negative capex reported for six consecutive quarters.