News Bulletin
Thursday, July 30, 2026
Evening Edition
Economic Numbers:
|
Time |
Event |
Actual |
Forecast |
Previous |
|
Thursday, July 30, 2026 |
||||
|
8:30 |
Core PCE Price Index (MoM)
(Jun) |
0.10% |
0.20% |
0.30% |
|
8:30 |
Core PCE Price Index (YoY)
(Jun) |
3.30% |
3.30% |
3.40% |
|
8:30 |
GDP (QoQ) (Q2) |
1.50% |
2.10% |
2.10% |
|
8:30 |
Initial Jobless Claims |
197K |
201K |
188K |
|
8:30 |
PCE price index (MoM)
(Jun) |
-0.10% |
-0.10% |
0.50% |
|
8:30 |
PCE Price index (YoY)
(Jun) |
3.70% |
3.70% |
4.10% |
|
8:30 |
Personal Spending (MoM)
(Jun) |
0.30% |
0.40% |
0.90% |
|
8:30 |
Core PCE Prices (Q2) |
3.40% |
3.50% |
4.40% |
|
8:30 |
GDP Price Index (QoQ)
(Q2) |
6.30% |
4.10% |
3.60% |
|
8:30 |
Continuing Jobless Claims |
1,782K |
1,800K |
1,789K |
|
10:20 |
Atlanta Fed GDPNow
(Q3) |
5.00% |
|
|
Indices
|
|
CLOSE |
50 DMA |
200 DMA |
|
DJIA |
52,209.57 |
51,643.07 |
49,018.34 |
|
NASDAQ |
25,122.18 |
25,958.38 |
23,984.67 |
|
S&P 500 |
7,437.63 |
7,468.78 |
7,019.57 |
Earnings Calendar:
(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC:
After Market Close)
|
COMPANY |
EPS Act |
EPS
Fore |
Rev
Act |
Rev
Fore |
Mkt Cap |
Time |
|
AppleAAPL:US |
- |
1.89 |
- |
108.86B |
$4.88T |
PM |
|
AmazonAMZN:US |
- |
1.82 |
- |
196.09B |
$2.51T |
PM |
|
MastercardMA:US |
5.04 |
4.76 |
9.3B |
9.07B |
$537.51B |
AM |
|
StrykerSYK:US |
- |
3.49 |
- |
6.58B |
$132.69B |
PM |
|
Bristol-Myers SquibbBMY:US |
2.04 |
1.61 |
12.97B |
11.7B |
$129.07B |
AM |
|
AltriaMO:US |
1.48 |
1.49 |
6.11B |
5.34B |
$122.88B |
AM |
|
SouthernSO:US |
1.13 |
0.99 |
6.98B |
7.24B |
$102.86B |
AM |
|
Valero EnergyVLO:US |
12.54 |
10.17 |
44.48B |
37.95B |
$101.65B |
AM |
|
Monster BeverageMNST:US |
- |
0.58 |
- |
2.42B |
$100.37B |
PM |
|
Quanta ServicesPWR:US |
4.24 |
3.29 |
9.56B |
8.6B |
$92.56B |
AM |
|
KKRKKR:US |
1.63 |
1.42 |
5.73B |
2.84B |
$87.12B |
AM |
|
Intercontinental ExchangeICE:US |
1.9 |
1.92 |
2.67B |
2.7B |
$86.79B |
AM |
|
Enterprise Products PartnersEPD:US |
0.84 |
0.76 |
18.27B |
13.57B |
$83.58B |
AM |
|
CignaCI:US |
7.78 |
7.57 |
71.7B |
70.1B |
$80.51B |
AM |
|
Regeneron PharmaceuticalsREGN:US |
14.29 |
10.85 |
4.29B |
3.82B |
$79.35B |
AM |
|
American Electric PowerAEP:US |
1.36 |
1.52 |
5.45B |
5.51B |
$69.21B |
AM |
|
Air Products & ChemicalsAPD:US |
3.47 |
3.33 |
3.16B |
3.19B |
$68.02B |
AM |
|
Arthur J. GallagherAJG:US |
- |
2.82 |
- |
4B |
$64.99B |
PM |
|
Monolithic Power SystemsMPWR:US |
- |
5.85 |
- |
901.35M |
$64.91B |
PM |
|
Warner Bros DiscoveryDISCA:US |
- |
-0.14 |
- |
9.23B |
$62.78B |
AM |
|
CortevaCTVA:US |
- |
2.22 |
- |
6.57B |
$61.58B |
PM |
|
Targa ResourcesTRGP:US |
- |
2.74 |
- |
4.78B |
$59.13B |
AM |
|
Sempra EnergySRE:US |
- |
1.03 |
- |
3.19B |
$56.36B |
AM |
|
ExelonEXC:US |
0.43 |
0.48 |
5.97B |
5.4B |
$45.29B |
AM |
|
Xcel EnergyXEL:US |
0.93 |
0.79 |
3.12B |
3.6B |
$43.69B |
AM |
|
Yum BrandsYUM:US |
1.62 |
1.58 |
2.17B |
2.19B |
$42.74B |
AM |
|
Live Nation EntertainmentLYV:US |
- |
0.68 |
- |
7.56B |
$41.91B |
PM |
|
Coinbase GlobalCOIN:US |
- |
0.04 |
- |
1.35B |
$40.46B |
PM |
|
Consolidated EdisonED:US |
- |
0.73 |
- |
3.79B |
$38.67B |
PM |
|
EMCOREME:US |
9.06 |
7.25 |
5.15B |
4.7B |
$36.80B |
AM |
|
HersheyHSY:US |
1.9 |
1.43 |
2.79B |
2.64B |
$36.55B |
AM |
|
Martin Marietta MaterialsMLM:US |
5 |
5 |
1.95B |
1.89B |
$35.22B |
AM |
|
Twilio IncTWLO:US |
- |
1.32 |
- |
1.43B |
$34.51B |
PM |
|
Ingersoll RandIR:US |
- |
0.82 |
- |
1.95B |
$33.69B |
PM |
|
IlluminaILMN:US |
- |
1.23 |
- |
1.13B |
$31.55B |
PM |
|
RobloxRBLX:US |
- |
-0.35 |
- |
1.61B |
$30.51B |
PM |
|
Cheniere PartnersCQP:US |
- |
0.96 |
- |
2.67B |
$30.50B |
AM |
|
Edison InternationalEIX:US |
- |
1.2 |
- |
4.76B |
$30.01B |
PM |
|
Mettler Toledo InternationalMTD:US |
- |
10.79 |
- |
1.03B |
$29.46B |
PM |
|
AmerenAEE:US |
- |
1.07 |
- |
2.27B |
$29.34B |
|
|
FMC TechnologiesFTI:US |
0.91 |
0.8 |
2.76B |
2.67B |
$29.11B |
AM |
|
DexcomDXCM:US |
- |
0.61 |
- |
1.29B |
$28.84B |
PM |
|
Alnylam PharmaceuticalsALNY:US |
1.84 |
1.61 |
1.29B |
1.32B |
$27.84B |
AM |
|
Eversource EnergyES:US |
- |
0.94 |
- |
3.07B |
$27.01B |
PM |
|
Laboratory Of AmericaLH:US |
4.99 |
4.79 |
3.73B |
3.71B |
$26.21B |
AM |
|
PPLPPL:US |
- |
0.37 |
- |
2.19B |
$26.06B |
|
|
AtlassianTEAM:US |
- |
1.03 |
- |
1.64B |
$25.56B |
PM |
|
MasTecMTZ:US |
- |
2.22 |
- |
4.29B |
$25.50B |
PM |
|
Carpenter TechnologyCRS:US |
3.23 |
3.05 |
851M |
861.23M |
$25.30B |
AM |
|
LPL FinancialLPLA:US |
- |
5.36 |
- |
5.04B |
$25.19B |
PM |
|
XPO LogisticsXPO:US |
1.7 |
1.46 |
2.35B |
2.28B |
$22.91B |
AM |
|
First SolarFSLR:US |
- |
3 |
- |
1.07B |
$21.84B |
PM |
|
EvergyEVRG:US |
- |
0.91 |
- |
1.4B |
$19.12B |
AM |
|
MicrostrategyMSTR:US |
- |
4.99 |
- |
122.93M |
$18.80B |
PM |
|
Alliant EnergyLNT:US |
- |
0.69 |
- |
987.98M |
$18.16B |
PM |
|
MACOM Technology SolutionsMTSI:US |
- |
1.35 |
- |
335.3M |
$18.12B |
AM |
|
Neurocrine BiosciencesNBIX:US |
- |
1.58 |
- |
873.23M |
$17.83B |
PM |
|
Hyatt HotelsH:US |
1.12 |
0.9 |
1.76B |
1.81B |
$17.72B |
AM |
|
Wesco InternationalWCC:US |
4.57 |
3.98 |
6.7B |
6.44B |
$17.58B |
AM |
|
WeyerhaeuserWY:US |
- |
0.11 |
- |
1.86B |
$17.00B |
PM |
|
Jones Lang LaSalleJLL:US |
5.26 |
4.51 |
6.9B |
6.74B |
$16.57B |
AM |
|
Rivian AutomotiveRIVN:US |
- |
-0.66 |
- |
1.46B |
$15.94B |
PM |
|
ITTITT:US |
- |
1.92 |
- |
1.39B |
$15.77B |
|
|
Avery DennisonAVY:US |
2.89 |
2.47 |
2.5B |
2.3B |
$14.92B |
AM |
|
International PaperIP:US |
0.04 |
-0.01 |
6B |
6.22B |
$14.90B |
AM |
|
InsmedINSM:US |
- |
-0.75 |
- |
390.57M |
$14.85B |
AM |
|
Baxter InternationalBAX:US |
0.56 |
0.37 |
2.96B |
2.8B |
$14.72B |
AM |
|
Lincoln ElectricLECO:US |
2.93 |
2.8 |
1.22B |
1.16B |
$14.06B |
AM |
|
GoDaddyGDDY:US |
- |
1.69 |
- |
1.29B |
$13.97B |
PM |
|
Trimble NavigationTRMB:US |
- |
0.8 |
- |
946.51M |
$13.94B |
AM |
|
Camden PropertyCPT:US |
- |
0.33 |
- |
392.62M |
$12.17B |
PM |
|
WatscoWSO:US |
- |
- |
- |
- |
$12.11B |
|
|
Erie IndemnityERIE:US |
- |
3.57 |
- |
1.23B |
$12.10B |
PM |
|
Gaming And Leisure PropertiesGLPI:US |
- |
0.8 |
- |
428.66M |
$12.03B |
PM |
|
Huntington Ingalls IndustriesHII:US |
5.27 |
3.82 |
3.4B |
3.15B |
$11.91B |
AM |
|
Arrow ElectronicsARW:US |
- |
4.17 |
- |
9.31B |
$11.17B |
|
|
Affiliated ManagersAMG:US |
8.29 |
7.77 |
640.7M |
581.69M |
$11.05B |
PM |
|
Globus MedicalGMED:US |
- |
1.1 |
- |
783.82M |
$10.75B |
PM |
|
AESAES:US |
- |
0.54 |
- |
3.11B |
$10.54B |
|
|
Cullen/Frost BankersCFR:US |
2.7 |
2.53 |
598.35M |
588.74M |
$10.49B |
AM |
|
Sirius XMSIRI:US |
0.7 |
0.78 |
2.16B |
2.14B |
$10.49B |
AM |
|
GlobalstarGSAT:US |
- |
-0.03 |
- |
72.43M |
$10.07B |
|
|
Darling IngredientsDAR:US |
2.41 |
1.27 |
1.31B |
1.7B |
$9.56B |
AM |
|
CytokineticsCYTK:US |
- |
-1.64 |
- |
16.6M |
$9.46B |
PM |
|
SaiaSAIA:US |
3.51 |
3.32 |
956.5M |
943.32M |
$9.34B |
AM |
|
CubeSmartCUBE:US |
- |
0.36 |
- |
280.63M |
$9.28B |
PM |
|
AptarGroupATR:US |
- |
1.36 |
- |
995.79M |
$8.98B |
PM |
|
American Homes 4 RentAMH:US |
- |
0.18 |
- |
466.52M |
$8.89B |
PM |
|
PBF EnergyPBF:US |
6.22 |
3.54 |
11.68B |
9.73B |
$8.76B |
AM |
|
Norwegian Cruise LineNCLH:US |
0.48 |
0.38 |
2.6B |
2.65B |
$8.17B |
AM |
|
Agree RealtyADC:US |
- |
0.47 |
- |
204.38M |
$8.16B |
PM |
|
AGCOAGCO:US |
1.43 |
1.45 |
2.61B |
2.75B |
$8.08B |
AM |
|
Builders FirstsourceBLDR:US |
1.17 |
1.28 |
3.86B |
3.92B |
$7.94B |
AM |
|
Eastman ChemicalEMN:US |
- |
1.81 |
- |
2.41B |
$7.89B |
PM |
|
Lincoln NationalLNC:US |
2.24 |
2.01 |
4.54B |
4.89B |
$7.59B |
AM |
|
Mohawk IndustriesMHK:US |
- |
2.58 |
- |
2.79B |
$7.51B |
PM |
|
A.O. SmithAOS:US |
1.03 |
0.97 |
1B |
996.31M |
$7.43B |
AM |
|
Federal SignalFSS:US |
1.42 |
1.29 |
670M |
667.19M |
$7.42B |
AM |
|
InterDigitalIDCC:US |
4.62 |
1.08 |
260.2M |
144.05M |
$7.25B |
AM |
|
IdaCorpIDA:US |
1.79 |
1.8 |
522.24M |
519.59M |
$7.21B |
AM |
|
MiddlebyMIDD:US |
- |
2.32 |
- |
837.06M |
$7.08B |
AM |
|
TAL InternationalTAL:US |
0.75 |
0.09 |
758.37M |
720M |
$6.95B |
AM |
|
Silicon LaboratoriesSLAB:US |
- |
0.7 |
- |
226.75M |
$6.95B |
AM |
|
CrocsCROX:US |
4.55 |
4.32 |
1.18B |
1.15B |
$6.86B |
AM |
|
MSA SafetyMSA:US |
- |
2.14 |
- |
496.32M |
$6.78B |
PM |
|
ADTADT:US |
0.23 |
0.22 |
1.31B |
1.29B |
$6.67B |
PM |
|
Installed Building ProductsIBP:US |
- |
2.57 |
- |
743.77M |
$6.41B |
AM |
|
Kite RealtyKRG:US |
0.79 |
0.08 |
193.31M |
196.03M |
$6.29B |
PM |
|
GATXGATX:US |
2.84 |
2.52 |
580.1M |
598.11M |
$6.25B |
AM |
|
TeleflexTFX:US |
- |
1.27 |
- |
559.03M |
$6.25B |
|
|
MarketAxessMKTX:US |
1.95 |
1.94 |
218.4M |
219.98M |
$6.18B |
AM |
|
ACI WorldwideACIW:US |
- |
0.29 |
- |
430.14M |
$6.16B |
AM |
|
LKQLKQ:US |
0.67 |
0.71 |
3.41B |
3.49B |
$5.96B |
AM |
|
FTI ConsultingFCN:US |
2.16 |
2.26 |
993.46M |
999.23M |
$5.88B |
AM |
|
BGC PartnersBGCP:US |
0.35 |
0.34 |
845.5M |
816.95M |
$5.71B |
AM |
|
PTC TherapeuticsPTCT:US |
- |
0.32 |
- |
293.08M |
$5.70B |
PM |
|
PostPOST:US |
- |
1.72 |
- |
2.03B |
$5.67B |
PM |
|
CNO FinancialCNO:US |
- |
1.01 |
- |
1B |
$5.55B |
PM |
|
BrunswickBC:US |
1.66 |
1.22 |
1.56B |
1.53B |
$5.48B |
AM |
|
GrahamGHC:US |
19.46 |
14.83 |
1.3B |
1.28B |
$5.34B |
AM |
|
Cousins PropertiesCUZ:US |
- |
0.07 |
- |
262.27M |
$5.28B |
PM |
|
BalchemBCPC:US |
- |
1.31 |
- |
268.5M |
$5.26B |
|
|
Tfs FinancialTFSL:US |
- |
0.08 |
- |
85.87M |
$5.14B |
|
|
CNX ResourcesCNX:US |
1.32 |
0.59 |
618.48M |
478.32M |
$5.11B |
AM |
|
Starwood PropertySTWD:US |
- |
0.42 |
- |
513.33M |
$5.08B |
AM |
|
Granite ConstructionGVA:US |
-2.729613734 |
|
1.46B |
1.41B |
$4.95B |
PM |
|
Dolby LaboratoriesDLB:US |
- |
0.67 |
- |
311.96M |
$4.92B |
PM |
|
Paramount SkydanceCBS:US |
- |
- |
- |
- |
$4.86B |
|
|
Federated HermesFHI:US |
- |
1.15 |
- |
485.47M |
$4.85B |
PM |
|
International BancsharesIBOC:US |
- |
1.68 |
- |
- |
$4.74B |
|
|
Cavco IndustriesCVCO:US |
- |
5.73 |
- |
579.28M |
$4.67B |
PM |
|
VeracyteVCYT:US |
- |
0.43 |
- |
144.56M |
$4.66B |
PM |
|
BeldenBDC:US |
2.34 |
2.02 |
750M |
745.06M |
$4.64B |
AM |
|
Bright Horizons Family SolutionsBFAM:US |
- |
1.2 |
- |
774.35M |
$4.61B |
PM |
|
Merit Medical SystemsMMSI:US |
- |
0.96 |
- |
405.36M |
$4.60B |
PM |
|
Grand Canyon EducationLOPE:US |
- |
1.69 |
- |
262.3M |
$4.49B |
PM |
|
CinemarkCNK:US |
1.19 |
0.89 |
1.09B |
981.14M |
$4.38B |
PM |
|
TerexTEX:US |
1.37 |
1.25 |
2.24B |
2.13B |
$4.33B |
AM |
|
SynapticsSYNA:US |
- |
1.2 |
- |
305.32M |
$4.31B |
PM |
|
Hannon Armstrong Sustnbl
Infrstr CapHASI:US |
- |
0.74 |
- |
111.29M |
$4.29B |
PM |
|
InsightsNSIT:US |
- |
2.93 |
- |
2.17B |
$4.22B |
|
|
GriffonGFF:US |
- |
1.33 |
- |
458.84M |
$4.20B |
AM |
|
Group 1 AutomotiveGPI:US |
9.61 |
11.15 |
5.4B |
5.71B |
$4.13B |
AM |
|
MDU ResourcesMDU:US |
- |
0.09 |
- |
411.17M |
$4.06B |
AM |
|
Universal DisplayOLED:US |
- |
1.06 |
- |
158.44M |
$3.80B |
PM |
|
Columbia SportswearCOLM:US |
- |
-0.38 |
- |
606.77M |
$3.60B |
PM |
|
TriNetTNET:US |
1.55 |
0.93 |
1.2B |
1.18B |
$3.59B |
AM |
|
Telephone Data SystemsTDS:US |
- |
0.05 |
- |
316.57M |
$3.55B |
AM |
|
BancorpTBBK:US |
- |
1.35 |
- |
189.17M |
$3.51B |
PM |
|
NMINMIH:US |
- |
1.29 |
- |
156.43M |
$3.48B |
PM |
|
Sonic AutomotiveSAH:US |
1.82 |
1.76 |
3.9B |
3.78B |
$3.46B |
AM |
|
Standex IntlSXI:US |
- |
2.44 |
- |
226.47M |
$3.44B |
PM |
|
Steven MaddenSHOO:US |
0.44 |
0.31 |
662.91M |
632.24M |
$3.44B |
PM |
|
Euronet WorldwideEEFT:US |
2.82 |
2.99 |
1.11B |
1.14B |
$3.37B |
PM |
|
ExponentEXPO:US |
- |
0.55 |
- |
144.07M |
$3.20B |
PM |
|
California Water ServiceCWT:US |
0.93 |
0.72 |
308.59M |
272.53M |
$3.04B |
PM |
|
Mge EnergyMGEE:US |
- |
0.81 |
- |
- |
$2.89B |
PM |
|
HUBHUBG:US |
- |
0.29 |
- |
941.12M |
$2.83B |
|
|
Dentsply InternationalXRAY:US |
- |
0.36 |
- |
888.31M |
$2.82B |
AM |
|
Trinity IndustriesTRN:US |
1.25 |
0.77 |
485.1M |
503.39M |
$2.81B |
AM |
|
Patrick IndustriesPATK:US |
1.29 |
1.41 |
1.04B |
1.04B |
$2.80B |
AM |
|
Western UnionWU:US |
- |
0.44 |
- |
1.06B |
$2.72B |
PM |
|
Quaker ChemicalKWR:US |
- |
1.62 |
- |
508.34M |
$2.69B |
PM |
|
Blackstone MortgageBXMT:US |
0.31 |
0.42 |
158.06M |
127.34M |
$2.67B |
AM |
|
DiamondRock HospitalityDRH:US |
- |
0.21 |
- |
313.52M |
$2.66B |
PM |
|
OlinOLN:US |
- |
0.12 |
- |
1.81B |
$2.65B |
PM |
|
SPS CommerceSPSC:US |
- |
1.09 |
- |
195.44M |
$2.45B |
PM |
|
NeogenNEOG:US |
0.09 |
0.05 |
225.3M |
212.52M |
$2.35B |
AM |
|
Minerals TechnologiesMTX:US |
- |
1.63 |
- |
558.38M |
$2.32B |
PM |
|
Perdoceo EducationCECO:US |
- |
0.71 |
- |
213M |
$2.21B |
|
|
MDC PartnersMDCA:US |
0.25 |
0.19 |
786.3M |
754.56M |
$2.18B |
AM |
|
CohuCOHU:US |
- |
0.14 |
- |
127.01M |
$2.11B |
PM |
|
HNIHNI:US |
1.27 |
1.06 |
1.47B |
1.5B |
$2.09B |
AM |
|
HuntsmanHUN:US |
- |
0.07 |
- |
1.58B |
$2.07B |
PM |
|
Ultragenyx PharmaceuticalRARE:US |
- |
-1.23 |
- |
181.72M |
$2.07B |
PM |
|
Federal Agricultural MortgageAGM:US |
- |
4.78 |
- |
114.14M |
$2.00B |
PM |
|
DXC TechnologyDXC:US |
- |
0.41 |
- |
2.98B |
$1.98B |
PM |
|
TripAdvisorTRIP:US |
- |
0.37 |
- |
505.48M |
$1.96B |
PM |
|
Agios PharmaceuticalsAGIO:US |
1.011976048 |
|
44.74M |
26.38M |
$1.81B |
AM |
|
YelpYELP:US |
- |
0.55 |
- |
368.74M |
$1.79B |
PM |
|
OmnicellOMCL:US |
0.94 |
0.42 |
312.21M |
304.83M |
$1.72B |
AM |
|
EnovisENOV:US |
- |
0.85 |
- |
583.2M |
$1.66B |
AM |
|
Walker & DunlopWD:US |
- |
0.91 |
- |
337.53M |
$1.63B |
AM |
|
Distribution Solutions GroupLAWS:US |
- |
0.3 |
- |
518.23M |
$1.62B |
|
|
TrimasTRS:US |
0.52 |
0.47 |
174.6M |
178.44M |
$1.55B |
AM |
|
Fresh Del Monte ProduceFDP:US |
- |
- |
- |
- |
$1.41B |
|
|
Helix Energy SolutionsHLX:US |
- |
0.07 |
- |
321.44M |
$1.38B |
|
|
Piper Sandler CompaniesPJC:US |
1.04 |
0.9 |
496M |
452.97M |
$1.31B |
AM |
|
RPCRES:US |
0.08 |
0.04 |
460.87M |
453.52M |
$1.16B |
AM |
|
Virtus Investment PartnersVRTS:US |
5.54 |
6.03 |
201.36M |
185.8M |
$1.15B |
AM |
|
SafeholdSAFE:US |
- |
0.42 |
- |
110.24M |
$1.13B |
PM |
|
Upbound GroupRCII:US |
1.07 |
1.05 |
1.2B |
1.17B |
$1.12B |
AM |
|
QuidelQDEL:US |
- |
-0.03 |
- |
620.69M |
$1.10B |
PM |
|
Apollo Commercial Real Est
FinanceARI:US |
- |
0.17 |
- |
80.52M |
$909.20M |
|
|
Fox FactoryFOXF:US |
- |
0.18 |
- |
354.47M |
$743.20M |
PM |
Market News:
U.S. stocks on Thursday ended with
stellar gains, as strong quarterly results and an unchanged
capital expenditures guidance from tech titan Microsoft breathed life back into
the artificial intelligence trade. Sentiment was also supported by a fairly
benign print on the Federal Reserve’s preferred inflation measure.
Ongoing worries over an intensifying
conflict in the Middle East and a sharp post-earnings decline in Meta Platforms
were overlooked. Meanwhile, the U.S. bond market suggested traders were skeptical of Fed Chair Kevin Warsh’s
assertions on Wednesday about fighting inflation.
The benchmark S&P 500 index advanced
1.7% to close at 7,438.72 points, while the tech-heavy NASDAQ Composite soared
2.8% to settle at 25,061.95 points, nothing its best day since June 15. The
blue-chip Dow Jones Industrial Average climbed 1.2% to conclude at 52,209.57
points.
Contrasting paths: Microsoft soars while
Meta slumps
Ahead of Wednesday’s financial reports
from the mega-caps, the AI trade had suffered in the week, with the
Philadelphia Semiconductor Index - a key barometer of chip stocks that have
been the biggest beneficiaries of the AI boom - languishing in correction
territory. Investors had become increasingly concerned about lofty valuations,
uncertain timelines on returns from massive spending on AI, and Chinese
competition.
Microsoft and Meta, both so-called hyperscalers, have been pouring billions of dollars into
building AI infrastructure, or the combined hardware and software stack needed
to handle massive data and computing power used to build and train AI
processes. Last week, Elon Musk’s Tesla and
Google-parent Alphabet both highlighted elevated AI-related spending plans.
Against this backdrop, all eyes were on
capital expenditures guidance.
The Satya Nadella-led firm became the first data center
giant to not raise spending plans, after it said its investment expectations
for calendar year 2026 remained unchanged. Conversely, the Facebook
and Instagram parent hiked the lower end of its 2026
capital expenditures outlook to $130 billion to $145 billion from $125 billion
to $145 billion.
Smallest monthly advance since March
2025 for Fed’s favorite inflation gauge
Turning to Thursday’s U.S. economic
calendar, traders received updates on the labor
market, gross domestic product (GDP), and inflation.
According to the Department of Labor, the number of Americans filing for initial jobless
claims in the past week ticked up to 197k, lower than the estimated figure of
201k.
Elsewhere, as per an advance estimate
from the Bureau of Economic Analysis (BEA), real U.S. GDP ticked up 1.5% in Q2
2026, decelerating from Q1’s 2.1% growth and lower than the consensus estimate
of 2.1%.
Separately, the BEA said the core
personal consumption expenditures (PCE) price index - widely seen as the Fed’s favored inflation measure - rose 0.1% M/M in June, and
increased 3.3% Y/Y. Economists had expected a M/M rise
of 0.2% and a Y/Y rise of 3.3%. This was the smallest monthly gain in the core
PCE since March last year.
On a headline basis, PCE slipped 0.1%
M/M in June, the first monthly decline since April 2020. Headline PCE ticked up
3.7% Y/Y last month. Economists had anticipated a M/M
decline of 0.1% and a Y/Y rise of 3.7%.
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