Nasdaq, S&P 500 rise on upbeat forecasts from Apple, Amazon

Published by
Reuters

By Aniruddha Ghosh and Shreyashi Sanyal (Reuters) – The Nasdaq and S&P 500 indexes rose on Friday, as positive forecasts from Apple and Amazon pointed to resilience in mega-cap companies to survive an economic downturn, with hopes of a less aggressive monetary policy boosting sentiment. Apple Inc shares rose 3.4% after the iPhone maker said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending. Amazon.com Inc shot up 11.9% after it forecast a jump in third-quarter revenue from bigger fees from its Prime loyalty subscriptions. “Big tech …

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