US markets are swinging on Friday as the ten-year Treasury yield climbs to four point seven three per cent — its highest in over a year — and a massive global chip rally triggered by Big Tech earnings sends South Korea's Kospi index up eighteen per cent.
On Wall Street, Amazon and Apple have delivered starkly contrasting results — Amazon's stock has jumped roughly fifteen per cent on blowout cloud earnings, while Apple shares have dropped around ten per cent after the iPhone maker issued disappointing guidance, blaming supply constraints on chips and memory.
The Apple earnings call was the last for outgoing chief executive Tim Cook before John Ternus takes over in September.
Mitch Mccann has more from New York.
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