Latest US Stock Market Update: Tech Giants' Earnings Reports Drive Market Optimism, Nasdaq Hits New High
On August 12, 2026, the three major US stock indices fluctuated and climbed, with impressive earnings reports from tech giants pushing the Nasdaq to another historical high. Market optimism continued to grow amid increasing global economic uncertainty. The US stock market has demonstrated strong resilience, attracting the attention of global investors.
Performance of the Three Major Indices: Tech Stocks Lead Market Rally
As of the close on August 12, the Dow Jones Industrial Average rose 0.45% to 38,652.31 points; the S&P 500 index increased 0.78% to 5,428.76 points; and the Nasdaq Composite Index climbed 1.23% to 17,542.89 points, setting a new historical high. Market analysts noted that the strong performance of tech stocks was the main driver behind the Nasdaq's record high, particularly as several major tech companies' earnings reports exceeded market expectations.
Impressive Tech Giants' Earnings Boost Market Confidence
This week marked the beginning of the tech giants' earnings season, with several companies reporting results that exceeded analyst expectations, boosting market confidence. Apple Inc. (AAPL) announced that second-quarter revenue increased by 12% year-over-year to $95 billion, while net profit grew by 15%. The company's service business revenue reached a historical high. CEO Tim Cook stated during the earnings conference, "Our services business continues to grow strongly, demonstrating that the Apple ecosystem is creating more value."
Microsoft (MSFT) also performed impressively, with its cloud computing business Azure revenue growing by 28%, exceeding the market expectation of 25%. CEO Satya Nadella stated: "The demand for digital transformation in enterprises remains strong, and our cloud services will continue to benefit from this trend."
Amazon's (AMZN) cloud computing business AWS revenue grew by 24%, slightly below the market expectation of 26%, but the company's overall revenue reached $142 billion, an 18% year-over-year increase that exceeded analyst expectations. CEO Andy Jassy emphasized: "AWS continues to maintain its leadership position in the cloud infrastructure space, while we have also achieved significant growth in our advertising business."
Divergent Performance in Other Sectors
Besides tech stocks, other sectors showed mixed performance. The energy sector performed strongly due to rising international oil prices, with ExxonMobil (XOM) and Chevron (CVX) increasing by 2.3% and 1.8%, respectively. The healthcare sector was relatively flat, with Johnson & Johnson (JNJ) and Pfizer (PFE) rising slightly by 0.5% and 0.3%, respectively.
The financial sector had mixed performance, with JPMorgan Chase (JPM) and Bank of America (BAC) rising by 0.8% and 0.5%, respectively, while Goldman Sachs (GS) fell by 0.2%. Analysts believe this reflects divergent views on the Federal Reserve's future policy direction.
Federal Reserve Policy Influences Market Trends
Federal Reserve Chair Powell hinted in his latest speech that despite ongoing inflationary pressures, the central bank may be approaching the end of its rate hike cycle. This statement boosted market sentiment, with investors expecting the Fed to keep rates unchanged at its September meeting and begin cutting rates later this year.
"The Fed's policy shift provides support to the stock market," noted the head of investment strategy at Bank of New York Mellon. "The market has already begun to price in rate cut expectations, which is particularly beneficial for highly valued tech stocks."
Asian Investors Accelerate Allocation to US Stocks
As the US stock market continues to perform strongly, Asian investors are accelerating their allocation to US stock assets. Data shows that since the beginning of 2026, Asian investors' purchases of US stock ETFs through Hong Kong Stock Connect have increased by 35% year-over-year, with tech stock ETFs accounting for over 60% of this total.
"The long-term growth potential of US tech stocks remains substantial," said the chief investment officer of a major asset management company in Hong Kong. "Especially in areas like artificial intelligence
