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Major Averages Rise as Oil Prices Fall

The major averages closed broadly higher as oil prices fell and investors digested softer-than-feared inflation data and another slate of corporate earnings reports.The Fed outlook has become somewhat more favorable for equities following the inflation data and the weak July employment report. Meanwhile, oil prices were down as concerns over global demand and rising U.S. crude inventories offset continued geopolitical risks surrounding Iran and the Strait of Hormuz.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Ciscoreportedand provided an upbeat outlook for Q1 and FY27Cerebras Systemsreportedbut raised its FY26 revenue guidancePershing Squarereported Netflixand VisaamongTapestryreported, provided its outlook for Q1 and FY27, and approved a 16% dividend increaseSilver Lake is in talks to acquire Workday,2. WALL STREET CALLS:Five Belowto Buy at JefferiesStubHubto Underperform at BofAVail Resortswith a Sell at Goldman SachsJPMorganAkamaito Neutral on revenue growth rampTronoxto Underweight at JPMorgan3. AROUND THE WEB:AMDis planning its largest-ever investment-grade bond offering of up to $5B across four maturities, Bloomberg reportsAlphabetchief scientist Demis Hassabis discussed forming an independent AI safety entity before stepping down as Google DeepMind CEO, WSJ saysFordplans to shift production of some China-built Lincoln models to the U.S. starting in 2030, driven primarily by tariffs, including a 52.5% duty on the China-made Nautilus, and the goal of strengthening domestic manufacturing, Reuters reportsBending Spoons'acquisition strategy is driving strong financial results and aggressive software monetization, but steep price increases for legacy customers risk accelerating churn and undermining the long-term value of its acquired businesses, Bloomberg saysAppleis in talks with publishers over new deals to use their content to deliver current news and information as part of the iPhone maker's efforts to improve its AI-powered Siri voice assistant, WSJ reports4. MOVERS:Accelerantgained after announcingin an all-cash deal worth more than $4B and reporting Q2 resultsSanDiskrose afterfor the years 2028 through 2030 at its investor day meetingOmerosand CorMedixwere higher afterCellebritefell afterand cutting its guidance for FY26Securitizeand Resideowere lower after5. EARNINGS/GUIDANCE:Yetiand raised its outlook for FY26Paysafe, with CEO Bruce Lowthers commenting on "strong traction across our priority markets and products"Cellebrite, provided guidance for Q3, and cut its outlook for FY26Ondas, provided guidance for Q3, and cut its outlook for FY26Yeswayand increased its outlook for FY26INDEXES:The Dow rose 69.72, or 0.13%, to 53,839.99, the Nasdaq gained 214.54, or 0.81%, to 26,803.03, and the S&P 500 advanced 50.49, or 0.65%, to 7,798.99.

Major Averages Rise as Oil Prices Fall

The major averages were broadly higher again near noon as oil prices fell and investors digested softer-than-feared inflation data and another slate of corporate earnings reports.The Fed outlook has become somewhat more favorable for equities following the inflation data and the weak July employment report. Markets are now pricing roughly a 66% probability that the Fed holds rates steady at its next meeting, according to Reuters.Meanwhile, oil prices are down a bit as concerns over global demand and rising U.S. crude inventories offset continued geopolitical risks surrounding Iran and the Strait of Hormuz.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Ciscoreportedand provided an upbeat outlook for Q1 and FY27Cerebras Systemsreported mixed Q2 results butPershing Squarereported Netflixand VisaTapestryreported, provided its outlook for Q1 and FY27, and approved a 16% dividend increaseJD.comreported better-than-expected2. WALL STREET CALLS:Five Belowto Buy at JefferiesStubHubto Underperform at BofAVail Resortswith a Sell at Goldman SachsJPMorganAkamaito Neutral on revenue growth rampTronoxto Underweight at JPMorgan3. AROUND THE WEB:Former Alibabastar researcher Junyang Lin is launching Shanghai-based Pragmatik Labs to build digital and physical AI agents, The Information reportsAlphabetchief scientist Demis Hassabis discussed forming an independent AI safety entity before stepping down as Google DeepMind CEO, WSJ saysFordplans to shift production of some China-built Lincoln models to the U.S. starting in 2030, driven primarily by tariffs, including a 52.5% duty on the China-made Nautilus, and the goal of strengthening domestic manufacturing, Reuters reportsBending Spoons'acquisition strategy is driving strong financial results and aggressive software monetization, but steep price increases for legacy customers risk accelerating churn and undermining the long-term value of its acquired businesses, Bloomberg saysAppleis in talks with publishers over new deals to use their content to deliver current news and information as part of the iPhone maker's efforts to improve its AI-powered Siri voice assistant, WSJ reports4. MOVERS:Accelerantgains after announcing it will bein an all-cash deal worth more than $4B and reporting Q2 resultsBirkenstockrises in New York afterand raising its guidance for FY26Omerosand CorMedixhigher afterCellebritefalls afterand cutting its guidance for FY26Securitizeand Resideolower after5. EARNINGS/GUIDANCE:Yetiand raised its outlook for FY26Paysafe, with CEO Bruce Lowthers commenting on "strong traction across our priority markets and products"Cellebrite, provided guidance for Q3, and cut its outlook for FY26Ondas (ONDS), provided guidance for Q3, and cut its outlook for FY26Yeswayand increased its outlook for FY26INDEXES:Near midday, the Dow was down 65.19, or 0.12%, to 53,705.08, the Nasdaq was up 150.61, or 0.57%, to 26,739.10, and the S&P 500 was up 33.77, or 0.44%, to 7,782.27.

Company Reports Q2 Revenue of $868M, Exceeding Expectations

Reports Q2 revenue $868M, consensus $837.25M. Chief Executive Officer John Romano stated, "The strong commercial momentum we experienced during the first quarter continued into the second quarter. TiO2 volumes came in at the high end of our guidance and at the highest level since the second quarter of 2022. Our ability to reliably serve customers through our global footprint supported volume performance during the quarter, and we continue to benefit from trade defense measures and structural shifts across the industry. Zircon volumes continued to strengthen in the second quarter, exceeding expectations and outperforming the already strong volumes delivered in the first quarter as supply remained constrained across the industry. Pricing for both TiO2 and zircon increased 5% sequentially, as previously announced increases were implemented across our markets. During the quarter, we also announced additional pricing increases for both TiO2 and zircon that are in effect for the third quarter."