The major stock market indexes were mixed in early trading ahead of a busy, tech-heavy earnings week.
The Nasdaq composite was down 0.2% while the S&P rose 0.1%. The Dow Jones Industrial Average gained 0.3%. The small-cap Russell 2000 gained 0.1%.
Volume fell on the Nasdaq and the NYSE compared with the same time on Friday.
European stocks were up, with the German DAX up 0.2%. The London FTSE 100 rose 0.3% and the Paris CAC 40 gained 0.5% in afternoon trading.
Economic Indicator Comes In Worse Than Expected
The June Chicago Fed National Activity Index came in lower than expected, at -0.19 versus a consensus of 0.05. The weighted index of 85 indicators tracks economic activity and inflationary pressures.
Investor's are expecting a 75-basis point rate hike on Wednesday at this week's Fed meeting in another step to temper inflation.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 31971.58 | +72.29 | +0.23 |
| S&P 500 | (0S&P5) | 3958.76 | -2.87 | -0.07 |
| Nasdaq | (0NDQC ) | 11766.76 | -67.35 | -0.57 |
| Russell 2000 | 179.91 | +0.40 | +0.22 | |
| IBD 50 | 26.84 | +0.03 | +0.11 | |
Last Update: 10:26 AM ET 7/25/2022 |
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The 10-year Treasury yield rose 4 basis points to 2.81%.
Stock Market Earnings Disappoint To Start The Week
Newmont, a gold and metals producer, dropped 10.3% after reporting a disappointing Q2 earning report. The company lowered its outlook due to expected lower production at one of its mines, and higher expenses in labor, energy, consumables and supplies.
Squarespace, a website building and e-commerce platform company, pared its loss to 2.3% after reporting a Q2 beat on sales but lower guidance for Q3. Squarespace had its IPO on May 19, 2021.
Koninklijke Philips, the Netherlands-based health technology company, was down 7.9% after reporting a Q2 loss and cutting its full-year comparable sales guidance. Societe Generale downgraded PHG to a hold rating from buy.
Keep up-to-date on upcoming earnings by checking the IBD earnings calendar.
Stocks Seeing Green
World Wrestling Entertainment was up 7.1% on news that it named Stephanie McMahon and Nick Khan as co-CEOs. It also gave a positive Q3 outlook. The stock broke out above the 68.83 buy point of a handle.
McKesson was up 2% and broke out of a flat base with a 340.04 buy point, according to MarketSmith. But the stock dipped below the entry.
Public Storage was up 1% after reporting a one-time special dividend of $13.15 per share on Aug. 4 to shareholders on record as of Aug. 1. UBS cut its price target to 336 from 390 and maintained a neutral rating on the stock.
IBD 50 Stocks Moving Today
The Innovator IBD 50 ETF, a gauge of growth stocks, was up 0.1%.
Pilgrim's Pride was up 1.4% and 7% below the 34.76 buy point of a base-on-base formation. The poultry company reports earnings after the close on Wednesday. Novo Nordisk was up 0.8% on light volume and continues to work on a new base.
Crude oil futures rose 1.3% to $95.89 per barrel. Gold futures were down 0.7% to $1,716 an ounce. Bitcoin futures lost 3.5%, back below the $22,000 level, to $21,800.
