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Barchart
Barchart
Rich Asplund

Stocks Trade Higher on Solid Earnings and Fed Rate Cut Speculation

The S&P 500 Index ($SPX) (SPY) today is up +0.44%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.60%.  September E-mini S&P futures (ESU25) are up +0.43%, and September E-mini Nasdaq futures (NQU25) are up +0.62%.

Stock indexes are climbing today on some positive corporate earnings results. Arista Networks is up more than +17% after its Q3 revenue forecast exceeded expectations.  Also, Match Group is up more than +12% after projecting a stronger-than-expected Q3 sales forecast.  Limiting gains in the Nasdaq 100 is weakness in technology stocks, with Super Micro Computer down more than -20% after reporting weaker-than-expected Q4 earnings.  Also, Advanced Micro Devices is down more than -8% to lead chip stocks lower after reporting mixed Q2 results. 

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