This archive report was first published on 24 June 2021.
On Wednesday, June 23, 2021, the US stock markets closed with mixed results, as investors digested a slew of economic data reports. The Dow Jones Industrial Average dropped 0.21%, while the S&P 500 lost 0.11%.
However, energy stocks bucked the trend, surging after oil prices rose on inventory reports. The Nasdaq 100 remained unchanged at 0.03%, with Tesla gaining 5.27%.
According to data released on Wednesday, the country's private sector activity fell by 4.8 points in June to 63.9, while new home sales declined by 5.9% in May. Despite these numbers, Treasury Secretary Janet Yellen predicted that inflation would be below 5% by the end of 2021.
Amazon Becomes Largest Corporate Buyer of Renewable Energy ¶
Amazon announced on Wednesday that it has become the largest corporate buyer of renewable energy in the US, following the launch of 14 new clean energy projects. The company's clean electricity capacity now stands at 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 a market capitalization of $2 trillion on Tuesday, becoming the second public company in American business history to achieve this milestone. The company's stock price grew by more than 1.1% to hit $265.8 per share.
Apple was the first to break the $2 trillion market capitalization record in the US in August 2020. In December 2019, Saudi Aramco briefly surpassed the threshold but fell weeks later.
Microsoft's revenue growth was 19% in its last financial results report from the fiscal third quarter, reaching $41.7 billion.
Warren Buffett Resigns as Gates Foundation Trustee ¶
Legendary investor Warren Buffett announced on Wednesday that 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.
