The S&P 500 Index is up 1.13%, the Dow Jones Industrial Average has risen 1.55%, and the Nasdaq 100 Index is up 2.21% as of today, with September E-mini S&P futures increasing by 1.20% and Nasdaq futures by 2.30%. Significant gains in technology stocks have been driven by better-than-expected earnings, notably Palantir Technologies, which reported Q2 revenue of $1.94 billion—surpassing the $1.81 billion consensus—resulting in a spike of over 27% in its share price.
In economic news, June factory orders unexpectedly fell 0.3%, missing the expected growth of 0.2%, while job openings decreased by 178,000 to 7.359 million. The U.S. June trade deficit was reported at $73.3 billion, larger than the anticipated $73.0 billion. Meanwhile, crude oil prices have dropped over 4%, influenced by talk of a potential U.S.-Iran deal, contributing to a declining inflation outlook as the 10-year T-note yield fell to 4.64%.
Internationally, stock markets showed positive trends, with the Euro Stoxx 50 reaching a new all-time high and closing up 0.83%. Companies like Zebra Technologies and Ameresco have seen significant share price surges after raising their revenue forecasts, highlighting strong performance in the technology sector.
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