David Mastroianni, strategic account executive at Adviser Investments, has the market analysis for Tuesday, July 31. The Dow Jones Industrial Average gained 0.4% and both the S&P 500 and NASDAQ Composite advanced 0.5% in response to positive data and a tech-sector rebound. For economic indicators, we saw the largest increase in almost a decade for employee wages; as well as boosts in after-tax spending and personal income. In addition, consumer confidence rose in July to the highest level seen since March 2001. On the earnings front, Apple gained nearly 4% in after-hours trading as the company continues to beat expectations with a 31% annual services revenue increase. Charter Communications (ticker: CHTR) also rose nearly 4% today after reporting a 96% surge in quarterly profit.
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