Stock markets in the United States closed mostly lower on Wednesday amid release of economic data reports which showed an improved recovery pace. The country’s private sector activity fell by 4.8 points in June to 63.9 while new home sales also fell by 5.9% in May.
Meanwhile, stocks of energy companies jumped after prices of oil grew on inventory reports.
Treasury Secretary Janet Yellen also predicted inflation to be below 5% by the end of 2021.
The Dow Jones dropped 0.21% while the S&P 500 lost 0.11%. The Nasdaq 100 remained unchanged at 0.03% in the green as Tesla gained 5.27%.
Major US Stock Markets News
Amazon becomes biggest buyer of renewable energy
Amazon announced on Wednesday it has become the biggest corporate buyer of renewable energy in the United States following the launch of 14 new clean energy projects, which bring the company’s clean electricity capacity to 10 gigawatts (GW), enough to power 2.5 million homes.
“Our investments in wind and solar energy in the US and around the world send a signal that investing in green technologies is the right thing to do for the planet and citizens—as well as for the long-term success of businesses of all sizes across all industries everywhere,” said Jeff Bezos, Amazon’s founder and CEO.
Microsoft Market Cap Hits $2T
Microsoft reached $2 trillion in market cap on Tuesday becoming the second public company in American business history to pass the benchmark, following its stock prices growing by more than 1.1% to hit $265.8 per share.
Apple was first to break the $2 trillion market capitalization record in the United States in August 2020. In December 2019, Saudi Aramco briefly passed the threshold but fell weeks later.
In its last financial results report from the fiscal third quarter, Microsoft marked revenue growth of 19% to reach $41.7 billion.
Warren Buffett resigns as Gates Foundation trustee
Legendary Warren Buffett announced on Wednesday he will resign as the trustee at the Bill & Melinda Gates Foundation, while donating $4.1 billion in Berkshire Hathaway’s shares to five foundations.
“For years I have been a trustee – an inactive trustee at that – of only one recipient of my funds, the Bill and Melinda Gates Foundation (BMG). I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s,” Buffett announced.
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