The S&P 500 Index is up 0.17%, while the Dow Jones Industrial Average is down 0.34%, and the Nasdaq 100 Index has increased by 0.51% as of today. September E-mini S&P futures rose by 0.20%, and the E-mini Nasdaq futures gained 0.59%. This upward trend is influenced by a rebound in chipmakers and AI-infrastructure stocks ahead of major earnings reports starting with Alphabet on Wednesday.
Geopolitical tensions are high, with the U.S. engaged in its ninth consecutive day of airstrikes on Iran to secure the Strait of Hormuz, leading to Iranian drone and missile attacks on U.S. bases in several countries. The U.S. is also sending additional warplanes to the region, potentially signaling an expansion of military operations. Despite earlier surges, WTI crude prices dropped from recent highs as Iran indicated willingness for diplomatic negotiations, proposing a 10-day ceasefire.
Market analysts predict a robust earning season, with Q2 earnings expected to increase by 23%, significantly boosted by AI spending. The iShares Semiconductor ETF is up over 1%, with significant gains observed in companies including Sandisk and Marvell Technology, while software stocks are underperforming, notably Oracle and Adobe, which are down over 2%. Interest rates have shown movement, with the 10-year T-note yield rising to 4.576% today.
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