Author: Sanmit Amin

Sanmit Amin joined Market Realist in 2014. He currently writes about technology stocks.

Disclosure: I am in full compliance with all ethics and other policies for Market Realist research analysts. I am not invested in securities that I cover on Market Realist.

Chinese tech giant Tencent (TCEHY) posted better-than-expected Q2 earnings. Its revenue growth accelerated in Q2 due to a rebound in its gaming segment.

Apple’s (AAPL) iPhone has seen its average selling price spike since it launched the iPhone X two years ago due to the higher costs of its OLED screens.

Despite the trade war and the inverted yield curve, the S&P 500 Index is down 1.8% this month. Its resiliency reflects the US consumer sector’s strength.

During the market’s recent volatile phase, tech stocks have lagged. Since July 26, the S&P 500 Index is down 3.8% and the Nasdaq Composite is down 4.2%.

Apple (AAPL) announced today that its Apple Card is available to US customers today. This month, AAPL tested the card with a limited group of consumers.

Today, President Trump tweeted that he wants the Fed to cut the federal funds rate by “at least 100 basis points.” The Fed rates by 25 basis points in July.

The US Dollar Index, which measures the strength of the dollar against a basket of other currencies, has risen 2.2% in the past month.

The stock market has seen big moves both ways this week. The S&P 500 (SPY) has surged 1.3% today as bond yields have risen.

Chinese tech giant Tencent’s (TCEHY) recent Q2 earnings revealed YoY revenue growth of 20.6% to $12.9 billion. Tencent’s net profit surged 35% YoY.

On Thursday, Apple shared an update on its promise. The company is on track to hit its promise of contributing $350 billion to the US economy by 2023.