Stocks Settle Mostly Higher Amid Strong Earnings Reports
On Tuesday, U.S. stocks settled mixed with the S&P 500 rising by +0.21%, while the Dow Jones Industrial Average climbed to a 1.5-week high and gained +1.03%. In contrast, the Nasdaq 100 fell -0.98% due in part to declining chipmaker stocks amid concerns over AI spending and competition from China. Positive earnings reports from Boeing (BA), Coca-Cola (KO), and Sherwin-Williams provided support for equities. Additionally, software stocks saw gains as investors shifted into underperforming sectors. However, the Nasdaq 100 was pressured by a deepening selloff in AI-infrastructure companies. The U.S. July consumer confidence index fell unexpectedly to 90.8 from an expected rise of 92.4, while home prices rose more than anticipated at +1.6% year-over-year. The market is now focused on upcoming earnings reports from major tech firms like Microsoft and Amazon.
Tickers: $BA $DIA $KO $QQQ $SHW $SPY
Topics: AI stocks earnings reports index performance stock market