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On August 5th, the Dow Jones Industrial Average and S&P 500 both extended their gains to 2%, while the Nasdaq Composite rose 2.7%. The Philadelphia Semiconductor Index rose by 7%, with Arm (ARM.O) up 17.4%, Intel (INTC.O) up 10.9%, AMD (AMD.O) up 9.3%, Broadcom (AVGO.O) and Qualcomm (QCOM.O) both up over 7%, and Nvidia (NVDA.O) up 2.5%.
Fitch Ratings: New U.S. student visa rules will put pressure on some universities.
American Petroleum Institute (API) CEO: Approximately 7 million barrels of oil are transported through the Strait of Hormuz every day.
The Federal Reserve accepted a total of $2.551 billion from three counterparties in its fixed-rate reverse repurchase operations.
August 5th - According to foreign media reports, a source familiar with the companys performance revealed that Chanel achieved double-digit sales growth in the first half of the year, surpassing luxury competitors including LVMH. Chanels comparable revenue grew by approximately 16% in the first half, with its fashion division, the companys largest business, also achieving a similar level of growth. Chanel releases its annual results; data from May showed that sales are projected to grow by 1.8% to reach $19.3 billion by 2025. The source stated that Chanel achieved revenue growth in all regions in the first half of the year, with the US market leading the way with sales growth exceeding 25%. This trend continued into July; however, due to a higher base of comparison, full-year performance may be lower than the first half.