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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

US equities up as major firms set to unveil economic reports

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 35,508.48. (AFP)
  • US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon relent on interest rate hikes
  • The broad-based S&P 500 added 0.3 percent at 4,593.56, while the tech-rich Nasdaq Composite Index advanced 0.4 percent to 14,370.18.

New York, US – Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in the week, including from Apple and Amazon.

After a strong first half of 2023, US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon relent on interest rate hikes and that the American economy can avoid recession.

This week’s calendar includes the Labor Department’s July jobs report, as well as updates on the manufacturing and services sectors.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 35,508.48.

The broad-based S&P 500 added 0.3 percent at 4,593.56, while the tech-rich Nasdaq Composite Index advanced 0.4 percent to 14,370.18.

Among individual companies, Johnson & Johnson tumbled 3.1 percent after a US bankruptcy judge rejected the pharma company’s effort to wall itself off from talcum powder litigation by creating a subsidiary that would be bankrupted.

J&J said it would appeal the ruling.

Ford fell 1.9 percent as it recalled about 870,000 F-150 pickup trucks due to problems with its parking brake.

Besides Apple and Amazon, this week’s earnings calendar includes Caterpillar, Merck and Pfizer.