Dow closes 110 points higher amid Big Tech rally, Apple soars 10% to a record; European stocks post first monthly drop since March amid fears of a second coronavirus wave; BELEX15 down 0.38%; Serbian GDP lost 6.5% in 2Q 2020 
Stocks wiped out earlier losses and closed higher on Friday as the biggest tech companies and market leaders — Amazon, Apple and Facebook — soared after posting stellar quarterly results. The Dow Jones Industrial Average rose 114.67 points, or 0.4%, to 26,428.32 after dropping about 300 points at its low of the day. The S&P 500 climbed 0.7%, or 24.90 points, to 3,271.12, while the Nasdaq Composite gained 1.4%, or 157.46 points, to 10,745.27, led by a 10% jump in Apple shares. 
Apple reported a blowout quarter, sending shares up 10.4% to a new all-time high. The company said its overall sales expanded by 11%, and it also announced a 4-for-1 stock split. With Friday’s rally, Apple took over Saudi Aramco to become the world’s most valuable company. 
Amazon, meanwhile, jumped 3.7% as the company saw its sales skyrocket during the coronavirus pandemic. Facebook shares rallied more than 7% as the social media giant posted revenue growth of 11% even amid the coronavirus pandemic slowdown. 
Google-parent Alphabet also posted better-than-expected earnings, but the company’s overall revenue declined for the first time in its history. Revenue for Google Cloud were also just below analyst expectations. Alphabet shares fell more than 3% on Friday. 

European equities closed out the month in negative territory on Friday, as investors digested corporate earnings and economic data. The pan-European Stoxx 600 closed down by nearly 0.9%, registering its first month-to-date drop in four months. Airlines and travel-related stocks were some of the worst impacted components of the blue-chip index, with easyJet falling 22% and British Airlines parent IAG down 20% in July. 
Nokia led the gains across Europe, up by almost 13%, after beating profit expectations in the second quarter. The CEO said that the firm is seeing concrete midterm opportunities on the back of geopolitical trends. 

BELEX15 ended Friday with 0.38% loss as Belgrade Airport was down 2%. NIS was the most active name as it generated RSD 1.4m in volume. 
Serbian GDP was down 6.55 in 2Q 2020, Prime Minister Brnabic said. For the first half of the year the drop was at 0.9%, she added. Meanwhile, Statistical Office said industrial output in June was up 2.6% y/y and 6.9% on a monthly basis. 
Source: CNBC, Ilirika