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Dow Jones Surges Over 600 Points as Markets Eye Fed Policy Meeting

The major averages were mostly higher, with the Dow up over 600 points as investors brace for a pivotal stretch of earnings and the start of the Federal Reserve's two-day policy meeting, with renewed concerns over artificial intelligence spending and rising competition from Chinese chipmakers weighing heavily on technology shares. The Federal Reserve begins its July policy meeting today, with markets focused less on the expected interest rate decision and more on guidance from Fed Chair Kevin Warsh following Wednesday's announcement.Meanwhile, oil prices continue to retreat as diplomatic efforts to preserve the ceasefire between the United States and Iran ease concerns over disruptions through the Strait of Hormuz. The decline in crude has helped temper inflation worries, although it has done little to offset the broader weakness in technology shares.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:UPSprovided areport for Q2Boeingreported, with the company saying its total company backlog is $715B, including over 6,200 aircraftPayPalreportedand provided its outlook for Q3 and FY26Coca-Colareported better-than-expectedand narrowed its FY26 organic revenue growth guidanceRoyal Caribbeanprovided areport for Q22. WALL STREET CALLS:TD CowenIntuitto Hold from Buy, says near-term catalyst path skews more negativeIntuitive Surgicalto Buy from Neutral at UBS after a transfer in analyst coverageUBSEdwards Lifesciencesto Buy from NeutralJefferiesCloroxto Hold from Buy amid CEO changeUBSof Becton Dickinsonwith a Buy rating, saying it is "undervalued" after recent multiple compression3. AROUND THE WEB:Curium is in advanced discussions to acquire radiopharma company Lantheusin a deal that could be announced in the coming days, Bloomberg saysAll the streaming content on NBCUniversal'sPeacock will be included in YouTubePremium subscriptions in the U.S. early next year, CNBC saysEchoStar'sHughes Network Systems is preparing to file for Chapter 11 bankruptcy within days to avoid paying a $1.5B debt maturity due on August 1, WSJ reportsAmazonis restructuring its AI strategy by scaling back in-house model development, reorganizing teams, and concentrating resources on fewer priority efforts to better compete in frontier AI, Business Insider saysAppleis preparing a major push into the smart home market with new devices and software, including an AI-powered home hub, updated Apple TV, and refreshed HomePod mini expected to launch over the coming months, Bloomberg reports4. MOVERS:Opko Healthincreases afterand providing guidance for Q3 and FY26Lucidsurged after Saudi Prince Alwaleed bin Talal Al Saudin the companyTransUniongains afterand raising its outlook for FY26Amkor Technologyand Corninglower afterT1 Energyfalls afterand acquiring advanced solar intellectual property rights from Evervolt5. EARNINGS/GUIDANCE:Ecolab, with CEO Christophe Beck commenting, "We delivered another quarter of double-digit EPS growth, driven by strong execution"Kiniksaand raised its guidance for FY26Principal FinancialreportedNucorreportedCadence Designprovided areport for Q2INDEXES:The Dow rose 537.24, or 1.03%, to 52,747.32, the Nasdaq lost 55.17, or 0.22%, to 24,876.91, and the S&P 500 advanced 15.60, or 0.21%, to 7,428.78.

Dow Jones Up 619 Points as Investors Eye Fed Policy Meeting

The major averages were higher near noon, with the Dow was up over 500 points, as investors brace for a pivotal stretch of earnings and the start of the Federal Reserve's two-day policy meeting, with renewed concerns over artificial intelligence spending and rising competition from Chinese chipmakers weighing heavily on technology shares. The Federal Reserve begins its July policy meeting today, with markets focused less on the expected interest rate decision and more on guidance from Fed Chair Kevin Warsh following Wednesday's announcement.Meanwhile, oil prices continue to retreat as diplomatic efforts to preserve the ceasefire between the United States and Iran ease concerns over disruptions through the Strait of Hormuz. The decline in crude has helped temper inflation worries, although it has done little to offset the broader weakness in technology shares.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:UPSprovided areport for Q2Boeingreported, with the company saying its total company backlog is $715B, including over 6,200 aircraftPayPalreportedand provided its outlook for Q3 and FY26Coca-Colareported better-than-expectedand narrowed its FY26 organic revenue growth guidanceRoyal Caribbeanprovided areport for Q22. WALL STREET CALLS:TD CowenIntuit (INTU) to Hold from Buy, says near-term catalyst path skews more negativeIntuitive Surgicalto Buy from Neutral at UBS after a transfer in analyst coverageUBSEdwards Lifesciencesto Buy from NeutralJefferiesCloroxto Hold from Buy amid CEO changeUBScoverage of Becton Dickinsonwith a Buy rating, saying it is "undervalued" after recent multiple compression3. AROUND THE WEB:Curium is in advanced discussions to acquire radiopharma company Lantheusin a deal that could be announced in the coming days, Bloomberg saysAll the streaming content on NBCUniversal'sPeacock will be included in YouTubePremium subscriptions in the U.S. early next year, CNBC saysEchoStar'sHughes Network Systems is preparing to file for Chapter 11 bankruptcy within days to avoid paying a $1.5B debt maturity due on August 1, WSJ reportsAmazonis restructuring its AI strategy by scaling back in-house model development, reorganizing teams, and concentrating resources on fewer priority efforts to better compete in frontier AI, Business Insider saysAppleis preparing a major push into the smart home market with new devices and software, including an AI-powered home hub, updated Apple TV, and refreshed HomePod mini expected to launch over the coming months, Bloomberg reports4. MOVERS:Opko Healthincreases afterand providing guidance for Q3 and FY26Iqviaand Itronhigher afterTransUniongains afterand raising its outlook for FY26Amkor Technologyand Corninglower afterT1 Energyfalls afterand acquiring advanced solar intellectual property rights from Evervolt5. EARNINGS/GUIDANCE:Ecolab, with CEO Christophe Beck commenting, "We delivered another quarter of double-digit EPS growth, driven by strong execution"Kiniksaand raised its guidance for FY26Principal FinancialreportedNucor (NUE) reportedCadence Design (CDNS) provided areport for Q2INDEXES:Near midday, the Dow was up 1.19%, or 619.48, to 52,829.56, the Nasdaq was up 0.09%, or 22.99, to 24,955.07, and the S&P 500 was up 0.36%, or 26.73, to 7,439.91.