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Major Averages Rise as Chip Stocks Benefit from Nvidia Earnings
The major averages advanced, with chip stocks moving higher ahead of Nvidia's upcoming earnings print as well as key inflation data due Wednesday. The U.S. has begun imposing tougher sanctions on Iran, but crude prices have eased, continuing a downward trend that began late last week. In other geopolitical news, the North American trade war heated up as Canada is matching Trump's weekend tariff escalation with a sweeping package of counter tariffs that directly targets U.S. steel, aluminum and downstream manufacturing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Dick's Sportingreportedand cut its FY26 earnings and revenue guidanceUnited Airlinesaddedacross Europe and AsiaMcKessonPrecision Medicine Group for roughly $2.25BTeslahas increased U.S. Cybertruck prices,Anthropic is preparing to pitch a more than $30T total addressable market in its IPO, surpassing SpaceX's$28.5T estimate,2. WALL STREET CALLS:AMDto Strong Buy from Outperform at Raymond JamesLoop CapitalFive Belowwith bullish view priced inDynatraceto Overweight at Morgan StanleyKlarnato Peer Perform at Wolfe ResearchShift4 Paymentsto Overweight at Wells Fargo3. AROUND THE WEB:Appleis set to introduce a foldable iPhone at a launch event on or around September 9, Bloomberg reportsSome PepsiCoemployees were notified this week that weight-loss drugs such as Novo Nordisk'sWegovy and Eli Lilly'sZepbound will no longer be covered by their company health insurance as of October, Bloomberg saysSoftBankis planning a record Y1T, or $6.3B, retail bond sale to raise funds for its investment commitments to OpenAI, Bloomberg saysShellhas attracted interest from ExxonMobiland LyondellBasellfor its underperforming U.S. chemicals assets, including the $14B Monaca complex, as it seeks to streamline its portfolio, FT saysJack Ma, the founder of Alibaba, has bought more than HK$600M worth of the company's Hong Kong-listed shares on consecutive days, SCMP reports4. MOVERS:Richtech Roboticsincreased after announcing aMadison Airgained after announcing aModernawas higher after Wolfe Researchthe stock to Peer PerformGorilla Technologyfell in New York afterand providing guidance for FY27Targetwas lower after issuing a statement related to its5. EARNINGS/GUIDANCE:Vipshopand provided guidance for Q3Scotiabank, with EPS and revenue beating consensusCiti Trendsand raised its outlook for FY26SelectQuote, with CEO Tim Danker commenting, "It was a highly successful 4th quarter and full-year fiscal 2026 for our business"Marzetti, with EPS beating consensusINDEXES:The Dow rose 160.24, or 0.30%, to 53,577.40, the Nasdaq gained 171.11, or 0.66%, to 26,151.30, and the S&P 500 advanced 24.42, or 0.32%, to 7,677.28.
Major Averages Slightly Higher, Chip Stocks Benefit from Nvidia Earnings
The major averages were fractionally higher near noon, with chip stocks moving higher ahead of Nvidia's upcoming earnings print as well as key inflation data due Wednesday. Meanwhile, the U.S. has begun imposing tougher sanctions on Iran and is threatening countries that continue trading with Tehran, but crude prices have eased. WTI crude is hovering around $82 a barrel, continuing a downward trend that began late last week. In other geopolitical news, the North American trade war heated up as Canada is matching Trump's weekend tariff escalation with a sweeping package of counter tariffs that directly targets U.S. steel, aluminum and downstream manufacturing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Dick's Sportingreportedand cut its FY26 earnings and revenue guidanceUnited Airlinesaddedacross Europe and AsiaMcKessonPrecision Medicine Group for roughly $2.25BBoeinghas been awarded afor the F-15 Eagle CrestTeslahas increased U.S. Cybertruck prices,2. WALL STREET CALLS:AMDto Strong Buy from Outperform at Raymond JamesLoop CapitalFive Belowwith bullish view priced inDynatraceto Overweight at Morgan StanleyKlarnato Peer Perform at Wolfe ResearchShift4 Paymentsto Overweight at Wells Fargo3. AROUND THE WEB:Ukrainian officials say Russia has used readily available NvidiaJetson Orin modules in fully autonomous AI-guided drones, highlighting how civilian Nvidia hardware can reach military applications through resale markets despite the company not selling directly in Russia, NY Times reportsSoftBankis planning a record Y1T, or $6.3B, retail bond sale to raise funds for its investment commitments to OpenAI, Bloomberg saysTaiwan prosecutors have indicted nine people, including employees from Nvidiaand Super Micro, for their involvement in the illegal export of AI servers to China, Reuters reportsShellhas attracted interest from ExxonMobiland LyondellBasellfor its underperforming U.S. chemicals assets, including the $14B Monaca complex, as it seeks to streamline its portfolio, FT saysJack Ma, the founder of Alibaba, has bought more than HK$600M worth of the company's Hong Kong-listed shares on consecutive days, SCMP reports4. MOVERS:Richtech Roboticsincreases after announcing aMadison Airgains after announcing aModernahigher after Wolfe Researchthe stock to Peer PerformGorilla Technologyfalls in New York afterand providing guidance for FY27Target) lower afterrelated to its Halloween costume following backlash5. EARNINGS/GUIDANCE:Vipshopand provided guidance for Q3Scotiabank, with EPS and revenue beating consensusCiti Trendsand raised its outlook for FY26SelectQuote, with CEO Tim Danker commenting, "It was a highly successful 4th quarter and full-year fiscal 2026 for our business"Marzetti, with EPS beating consensusINDEXES:Near midday, the Dow was up 105.54, or 0.20%, to 53,522.70, the Nasdaq was up 155.86, or 0.60%, to 26,136.05, and the S&P 500 was up 21.12, or 0.28%, to 7,673.98.
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Major Averages Decline After Technology Earnings
The major averages were mostly lower after another round of technology earnings sparked renewed selling in software and semiconductor stocks.Economic data remains a central focus ahead of Friday's July employment report. Markets remain divided over the Federal Reserve's next policy move, with incoming employment data expected to play an important role in shaping expectations for interest rates over the coming months.Investors are also monitoring reports of progress toward a potential agreement involving Iran and shipping through the Strait of Hormuz, which has helped keep oil prices relatively contained even as uncertainty persists.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SanDiskreportedand revenue and provided an upbeat outlook for Q1Western Digitalreportedand provided upbeat Q1 earnings guidanceBlockreportedand provided guidance for Q3 and 2026Modernasaid the, a new vaccine against seasonal influenza, for use in all adults 50 years and olderWarner Bros. Discoveryreported2. WALL STREET CALLS:JPMorganCharles Riverto Overweight following "strong" Q2 reportGlobal Paymentsto Outperform at Wolfe ResearchZillow Groupat Bernstein and Evercore ISIAppLovinat Wells Fargo and Piper SandlerHubSpotby at least seven firms post the Q2 report3. AROUND THE WEB:China launched a formal security review of products sold in the country by Palo Alto Networks, Bloomberg saysGooglewill be facing a class action lawsuit in the U.K. over the alleged abuse of its dominant market position after an antitrust tribunal allowed the claim to go ahead, Bloomberg reportsEarlier this year, Netherlands approved of Tesla'sFull Self Driving, FSD, system and has encouraged its adoption across the EU, but the country's road regulator RDW won't tell the public why it concluded the system is safe or how it evaluated the technology, Reuters saysFederal prosecutors investigated claims that JPMorganexecutives ignored deficiencies in the company's antifraud program and improperly denied over $100M in reimbursements to customers whose funds were stolen, WSJ saysMeta'sMuse Spark 1.1 AI model accessed the internet during cybersecurity testing and breached the systems of another company, The Information reports4. MOVERS:Aspen Aerogelswas higher afterand providing guidance for Q3 and FY26Alkami Technology (ALKT) rose afterthe company has launched a formal sale process after receiving interestHonest Companyand Iovancegained afterThredUpfell afterand cutting its guidance for Q3 and FY26BillionToOneand UWM Holdingswere lower after5. EARNINGS/GUIDANCE:Ralph Lauren, with EPS and revenue beating consensusHertzShift4 Payments, provided guidance for Q3, and cut its outlook for FY26Fox Corp., with CEO Lachlan Murdoch calling fiscal 2026 "an exceptional year"Pelotonand provided guidance for both Q1 and FY27INDEXES:The Dow fell 464.02, or 0.85%, to 53,885.10, the Nasdaq lost 15.09, or 0.06%, to 26,348.35, and the S&P 500 declined 13.59, or 0.18%, to 7,709.96.
Major Averages Decline as Tech Earnings Weigh
The major averages were lower near noon after another round of technology earnings sparked renewed selling in software and semiconductor stocks.Economic data remains a central focus ahead of Friday's July employment report. Markets remain divided over the Federal Reserve's next policy move, with incoming employment data expected to play an important role in shaping expectations for interest rates over the coming months.Investors are also monitoring reports of progress toward a potential agreement involving Iran and shipping through the Strait of Hormuz, which has helped keep oil prices relatively contained even as uncertainty persists.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SanDiskreportedand provided an upbeat outlook for Q1Western Digitalreportedand provided upbeat Q1 earnings guidanceBlockreportedand provided guidance for Q3 and 2026Modernasaid the, a new vaccine against seasonal influenza, for use in all adults 50 years and olderWarner Bros. Discoveryreported2. WALL STREET CALLS:JPMorganCharles Riverto Overweight following "strong" Q2 reportGlobal Paymentsto Outperform at Wolfe ResearchZillow Groupat Bernstein and Evercore ISIAppLovinat Wells Fargo and Piper SandlerHubSpotby at least seven firms post the Q2 report3. AROUND THE WEB:Googlewill be facing a class action lawsuit in the U.K. over the alleged abuse of its dominant market position after an antitrust tribunal allowed the claim to go ahead, Bloomberg reportsEarlier this year, Netherlands approved of Tesla'sFull Self Driving, FSD, system and has encouraged its adoption across the EU, but the country's road regulator RDW won't tell the public why it concluded the system is safe or how it evaluated the technology, Reuters saysMicrosoft'sHalo Studios appears to be laying off staff less than a week after the developer released "Halo: Campaign Evolved," Insider-Gaming reportsFederal prosecutors investigated claims that JPMorganexecutives ignored deficiencies in the company's antifraud program and improperly denied over $100M in reimbursements to customers whose funds were stolen, WSJ saysMeta'sMuse Spark 1.1 AI model accessed the internet during cybersecurity testing and breached the systems of another company, The Information reports4. MOVERS:Aspen Aerogelshigher afterand providing guidance for Q3 and FY26Aevaincreases after, with EPS and revenue beating consensusHonest Companyand Iovancegain afterThredUpfalls afterand cutting its guidance for Q3 and FY26BillionToOneand UWM Holdingslower after5. EARNINGS/GUIDANCE:Ralph Lauren, with EPS and revenue beating consensusHertzShift4 Payments, provided guidance for Q3, and cut its outlook for FY26Fox Corp., with CEO Lachlan Murdoch calling fiscal 2026 "an exceptional year"Pelotonand provided guidance for both Q1 and FY27INDEXES:Near midday, the Dow was down 335.26, or 0.62%, to 54,013.86, the Nasdaq was down 14.68, or 0.06%, to 26,348.76, and the S&P 500 was down 14.94, or 0.19%, to 7,708.61.
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