09:06 GMT21 June 2021
Listen Live
    US
    Get short URL
    290
    Subscribe

    Stocks experienced their best month in terms of percent change, with the S&P rising the most — 12.7 percent — fueled by the earnings of major tech companies during the coronavirus lockdown.

    US stock futures dropped in overnight trading on Thursday as the stock market ended its biggest one-month gain in thirty years, according to CNBC.

    Futures contracts tied to the Dow Jones Industrial Average fell 183 points, or almost 1 percent. S&P 500 and Nasdaq 100 futures also traded 0.8 percent and 1.7 percent lower, respectively.

    Apple saw its shares trading 2 percent lower in after-hours trading, while the company's revenues remained flat in the second quarter of 2020 amid the coronavirus uncertainty. Shares of another tech giant, Amazon, fell 4.8 percent after it announced it would spend all of its Q2 revenues on pandemic-related expenses.

    Still, both Amazon and Apple rallied in April, soaring 27 percent and 15.3 percent, respectively, and drove the S&P 500, the barometer for the top 500 US stocks, up from its losses in March.

    Meanwhile, Wall Street's main stock indexes fell about 1 percent on Thursday but still managed to finish April with double-digit gains. Stocks have rebounded in recent weeks on optimism about pending businesses re-openings in most of the 50 US states shut down by the COVID-19 pandemic.

    Tags:
    Apple, tech giants, virus, investors, Wall Street, US
    Community standardsDiscussion