Adobe Inc., together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, students, workers, marketers, educators, enthusiasts, and communicators. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. It also provides consulting, technical support, and learning services. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.

Adobe appears to be a company with very strong operating profitability, but with a mixed market valuation and weak short-term liquidity. Revenue has grown steadily in recent years, and along with it gross profit, EBITDA, operating profit, and net profit have all increased, confirming the quality of the business and its ability to generate cash flow. Gross margin of around 89%, operating margin above 36%, and net margin close to 29% are levels that clearly exceed the typical sector picture and support a premium valuation. ROE, ROA, and ROI are also very high and continue to improve, indicating high efficiency of capital and assets. At the same time, P/E and P/FCF are below the industry median, while P/S and P/B are above it, so the market is valuing the company unevenly: earnings and cash flow look inexpensive, but the balance-sheet valuation remains expensive. The decline in P/E and P/FCF compared with earlier periods is a positive signal, because the business quality is being preserved at a more moderate price relative to earnings and free cash flow. Debt-to-capital is moderate and declining, and long-term debt has decreased significantly, which reduces financial risk. However, the current ratio is below 1 and the quick ratio is zero, indicating weak short-term liquidity and calling for caution. The absence of dividends removes one of the valuation support factors for an income-oriented investor. Overall, the fundamentals are strong, but not flawless enough to justify an aggressive increase in the target. For a conservative assessment, a moderate negative adjustment is appropriate, reflecting expensive balance-sheet and revenue multiples as well as liquidity risks, while preserving the high quality of earnings and cash flow.

Adobe Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно упал. Медведи в растерянности.

Medium index, significantly down. The bears are confused.

Сильный индекс, значительно вырос. Рынок на стороне быков.

Strong index, significantly up. The market is on the bulls' side.

Сильный индекс, значительно упал. Рынок не поддерживает медведей.

Strong index, significantly down. The market does not support the bears.

Сильный индекс, значительно вырос. Приток средств в лонги на высоком уровне.

Strong index, significantly up. Inflow of funds into longs at a high level.

Сильный индекс, значительно упал. Отток средств из шортов на высоком уровне.

Strong index, significantly down. Outflow of funds from shorts at a high level.

Strong profitability and revenue growth support Adobe, but high P/B and P/S ratios, weak liquidity, and the absence of dividends limit revaluation potential.

The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -1.52%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -2.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.06%. September E-mini S&P futures (ESU26) fell -1.59%, and September E-mini Nasdaq futures (NQU26) fell -2.23%.
Stock indexes retreated on Wednesday, with the S&P 500 sliding to a 1-month low and the Nasdaq 100 sinking to a 3-month low. Chipmakers and AI infrastructure stocks sold off on Wednesday, leading the overall market lower. Also, heightened geopolitical risks are weighing on stocks as crude prices surged, and bond yields jumped when President Trump said the US will “hit Iran hard” after a recent attack from Iran that targeted a US base in Jordan.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks whipsawed Wednesday afternoon and briefly erased their losses before selling off again into the close after the FOMC kept interest rates unchanged in a hawkish Fed hold. Three Fed members dissented in favor of a quarter-point rate hike, and Fed Chair Warsh said the Fed is committed to “deliver price stability.” The 10-year T-note yield rose +4 bp to 4.64%.
Earnings results from Microsoft and Meta Platforms after Wednesday’s close will be looked at to see whether the vast spending behind the buildout of artificial intelligence can deliver adequate returns.
The FOMC, as expected, kept the fed funds target range unchanged at 3.50% to 3.75% in a 9-3 vote, with Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan voting for a quarter-point rate hike.
The post-FOMC statement said, "Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East," adding that "productivity growth and capital investment are strong." Inflation remains elevated "in part reflecting supply shocks that have driven price increases in certain sectors, including energy."
Fed Chair Warsh said, "The economy is showing impressive resilience" even with recent shocks and policymakers "will not hesitate to act" if inflation remains elevated.
Sep WTI crude oil prices (CLU26) jumped by more than +6% on Wednesday as the recent lull in hostilities came to an abrupt end after the Islamic Revolutionary Guard Corps (IRGC) said it targeted a US airbase and command center in Jordan with ballistic missiles. The IRGC also claimed to have hit and halted three tankers attempting to transit through the Strait of Hormuz. Meanwhile, the US and Saudi Arabia launched a joint attack on "Iran-aligned terrorists" in Iraq after the IRGC directed them to target US forces and Saudi energy infrastructure.
Tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf. Also, diplomatic attempts to reopen the Strait of Hormuz appear to be at an impasse. Iranian Deputy Foreign Minister Gharibabadi said Oman's proposal for a route through the Strait of Hormuz, with 50% under Iran's control and 50% under Oman's, would not address Iran's concerns and that the inbound passage and part of the outbound channel must be entirely under Iran's control.
US MBA mortgage applications fell -6.4% in the week ended July 24, with the purchase mortgage sub-index down -3.6% and the refinancing mortgage sub-index down -9.9%. The average 30-year fixed rate mortgage rose +7 bp to an 11.5-month high of 6.76% from 6.69% the prior week.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are awaiting results from a raft of megacap technology companies this week, including Microsoft and Meta Platforms today, and Amazon.com and Apple on Thursday. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 87% of the 216 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 56% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed down -0.65%. China's Shanghai Composite rebounded from a 1-week low and closed up +0.40%. Japan's Nikkei-225 Stock Average fell to a 2.25-month low and closed down -1.49%.
Interest Rates
September 10-year T-notes (ZNU6) on Wednesday closed down -1 tick. The 10-year T-note yield rose +3.3 bp to 4.639%. T-notes were under pressure from Wednesday’s +6% surge in crude oil prices, which raises inflation expectations and is hawkish for Fed policy. Also, the FOMC's hawkish hold on interest rates weighed on T-note prices after three Fed members dissented in favor of a 25 bp rate hike, and Fed Chair Warsh said policymakers "will not hesitate to act" if inflation remains elevated.
European government bond yields moved higher on Wednesday. The 10-year German bund yield rose +5.6 bp to 3.160%. The 10-year UK gilt yield rose +9.2 bp to 5.036%.
The German Jun import price index eased to 6.1% y/y from 6.8% y/y in May.
The markets are discounting a 90% chance of a +25 bp ECB rate hike at their next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks fell sharply on Wednesday, weighing on the broader market. The Philadelphia Stock Exchange Semiconductor Index ($SOX) dropped to a 2.5-month low and closed down more than -5%. Nebius Group NV (NBIS) closed down more than -12% to lead losers in the Nasdaq 100, and KLA Corp (KLAC) closed down more than -10%. Also, Micron Technology (MU) closed down more than -9%, and Applied Materials (AMAT) and ARM Holdings (ARM) closed down by more than -8%. In addition, Sandisk (SNDK) and NXP Semiconductors NV (NXPI) closed down more than -7%, and Marvell Technology (MRVL) and Lam Research (LRCX) closed down more than -6%. Finally, Advanced Micro Devices (AMD), Microchip Technology (MCHP), and Intel (INTC) closed down more than -5%.
Airline stocks fell on Wednesday as crude oil prices surged. Alaska Air Group (ALK) closed down more than -5%, and Southwest Airlines (LUV) closed down more than -4%. Also, Delta Air Lines (DAL), American Airlines Group (AAL), and United Airlines Holdings (UAL) closed down more than -3%.
Trucking and freight companies were under pressure on Wednesday amid soaring crude oil prices. ArcBest (ARCB) closed down more than -5%, and FedEx Freight Holding (FDXF) closed down more than -4%. Also, Saia Inc (SAIA) closed down more than -3%, and Old Dominion Freight Line (ODFL) and XPO Inc (XPO) closed down more than -2%. In addition, Marten Transport Ltd (MRTN) closed down more than -1%.
Most software stocks rose on Wednesday as investors rotated out of chipmakers into software. Intuit (INTU) closed up more than +6%, and Adobe Systems (ADBE), Datadog (DDOG), and Workday (WDAY) closed up more than +5%. Also, Atlassian Corp (TEAM) and ServiceNow (NOW) closed up more than +4%, and Salesforce (CRM) closed up more than +3% to lead gainers in the Dow Jones Industrials. In addition, Autodesk (ADSK) closed up more than +3%, and Thomson Reuters (TRI) closed up more than +2%.
Energy producers and service providers rallied on Wednesday, as crude oil prices jumped by more than +6%. APA Corp (APA) closed up more than +5%, and Diamondback Energy (FANG) and Devon Energy (DVN) closed up more than +4%. Also, ConocoPhillips (COP) and Occidental Petroleum (OXY) closed up more than +3%, and ExxonMobil Holdings (XOM) and Chevron (CVX) closed up more than +2%.
Lennox International (LII) closed down more than -20% to lead losers in the S&P 500 after reporting Q2 net sales of $1.55 billion, weaker than the consensus of $1.56 billion.
Vertiv Holdings (VRT) closed down more than -17% after reporting Q2 net sales of $3.27 billion, below the consensus of $3.39 billion.
Masco Corp (MAS) closed down more than -11% after reporting Q2 net sales of $1.99 billion, weaker than the consensus of $2.08 billion.
Caterpillar (CAT) closed down more than -6% to lead losers in the Dow Jones industrials after Baird downgraded the stock to neutral from outperform, citing a growing trend of state and local government actions targeting data centers, a key growth driver for the company.
Avis Budget Group (CAR) closed down more than -6% after reporting Q2 EPS of 98 cents, well below the consensus of $1.91.
Humana (HUM) closed down more than -5% after it maintained its full-year profit outlook despite posting better-than-expected Q2 profit.
Garmin Ltd (GRMN) closed up more than +16% to lead gainers in the S&P 500 after reporting Q2 revenue of $2.02 billion, above the consensus of $1.92 billion, and raising its full-year revenue estimate to $8.05 billion from a previous estimate of $7.90 billion, stronger than the consensus of $7.99 billion.
GE Healthcare (GEHC) closed up more than +12% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of $1.13, better than the consensus of $1.04.
Amphenol (APH) closed up more than +4% after reporting Q2 net sales of $8.76 billion, better than the consensus of $8.31 billion.
Ford Motor (F) closed up more than +2% after raising its full-year adjusted EBIT to $10 billion to $11 billion from a previous forecast of $8.5 billion to $10.5 billion.
Earnings Reports (7/30/2026)
A O Smith Corp (AOS), Air Products and Chemicals Inc (APD), Alliant Energy Corp (LNT), Altria Group Inc (MO), Amazon.com Inc (AMZN), American Electric Power Co Inc (AEP), Apple Inc (AAPL), Arthur J Gallagher & Co (AJG), Avery Dennison Corp (AVY), Baxter International Inc (BAX), Bristol-Myers Squibb Co (BMY), Builders FirstSource Inc (BLDR), Camden Property Trust (CPT), Cigna Group/The (CI), Coinbase Global Inc (COIN), Corteva Inc (CTVA), CRH PLC (CRH), Dexcom Inc (DXCM), Edison International (EIX), EMCOR Group Inc (EME), Erie Indemnity Co (ERIE), Eversource Energy (ES), Exelon Corp (EXC), First Solar Inc (FSLR), GoDaddy Inc (GDDY), Hershey Co/The (HSY), Huntington Ingalls Industries (HII), Ingersoll Rand Inc (IR), Intercontinental Exchange Inc (ICE), International Paper Co (IP), KKR & Co Inc (KKR), Labcorp Holdings Inc (LH), Live Nation Entertainment Inc (LYV), Martin Marietta Materials Inc (MLM), Mastercard Inc (MA), Mettler-Toledo International Inc (MTD), Monolithic Power Systems Inc (MPWR), Norwegian Cruise Line Holdings (NCLH), Quanta Services Inc (PWR), Regeneron Pharmaceuticals Inc (REGN), Southern Co/The (SO), Stryker Corp (SYK), Trane Technologies PLC (TT), Valero Energy Corp (VLO), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), Xcel Energy Inc (XEL), Yum! Brands Inc (YUM).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Plunge on a Rout in Chipmakers and a Hawkish Fed Hold

The S&P 500 Index ($SPX) (SPY) on Tuesday closed up +0.21%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.98%. September E-mini S&P futures (ESU26) rose +0.24%, and September E-mini Nasdaq futures (NQU26) fell -0.88%.
Stock indexes settled mixed on Tuesday, with the Dow Jones Industrials climbing to a 1.5-week high and the Nasdaq 100 falling to a 2.75-month low. Better-than-expected earnings from Boeing, Coca-Cola and Sherwin-Williams were supportive of stocks on Tuesday. Also, software stocks rose as investors rotated into sectors that had recently underperformed.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
However, the Nasdaq 100 was under pressure amid a deepening rout in chipmakers and AI-infrastructure stocks, driven by fresh concerns over artificial intelligence spending and rising competition from China. Also, the unexpected decline in US July consumer confidence weighed on market sentiment on Tuesday.
Lower crude oil prices have also eased inflation concerns and pushed bond yields lower, supporting stocks. Sep WTI crude oil prices (CLU26) fell by more than -4% on Tuesday to a 1-week low, as the US and Iran extended their pause in hostilities. The focus is now on talks between Iran and Oman over reopening the Strait of Hormuz. The 10-year T-note yield fell -5 bp to 4.60%.
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf. Also, President Trump on Tuesday said that the US would “take out” Pickaxe Mountain, an Iranian facility that the US and Israel said they suspect is a nuclear site, if there wasn’t a deal. In addition, Houthi militants said they would continue striking Saudi Arabia after claiming to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi Arabia’s key crude export outlet since the Strait of Hormuz has been effectively shut off by the war.
The US May S&P composite-20 home price index rose +1.6% y/y, stronger than expectations of +1.3% y/y and the largest increase in 10 months.
The Conference Board US Jul consumer confidence index unexpectedly fell by -1.4 to 90.8, weaker than expectations of an increase to 92.4.
The US Jul Richmond Fed manufacturing survey rose +1 to 5, weaker than expectations of 6.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are awaiting results from a raft of megacap technology companies this week, including Microsoft and Meta Platforms on Wednesday, and Amazon.com and Apple on Thursday. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 170 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 30% chance of a +25 bp rate hike at the Tue/Wed FOMC meeting.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 closed up +0.12%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei-225 Stock Average fell to a 2-month low and closed down sharply by -3.95%.
Interest Rates
September 10-year T-notes (ZNU6) on Tuesday closed up +7.5 ticks. The 10-year T-note yield fell -4.9 bp to 4.600%. T-notes pushed higher on Tuesday as a -4% plunge in crude oil prices eased inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.192% on Tuesday. T-notes also rose after US July consumer confidence unexpectedly declined. Solid demand for the Treasury’s $44 billion auction of 7-year T-notes was bullish for T-note prices, as the auction had a bid-to-cover ratio of 2.49, better than the 10-auction average of 2.47.
European government bond yields moved lower on Tuesday. The 10-year German bund yield fell to a 2-week low of 3.103% and finished down -2.9 bp to 3.104%. The 10-year UK gilt yield slid to a 1-week low of 4.944% and finished down -5.2 bp to 4.944%.
The France Jul consumer confidence survey rose +2 to a 4-month high of 86, stronger than expectations of 85.
The markets are discounting an 86% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Software stocks rallied on Tuesday, a supportive factor for the overall market. Workday (WDAY) closed up more than +8% to lead gainers in the Nasdaq 100, and Thomson Reuters (TRI) and Autodesk (ADSK) closed up more than +5%. Also, Adobe (ADBE), ServiceNow (NOW), Salesforce (CRM), and Atlassian (TEAM) closed up more than +4%, and Intuit (INTU) closed up more than +3%. In addition, Microsoft (MSFT) and Cadence Design Systems (CDNS) closed up more than +1%.
Chipmakers and AI-infrastructure stocks retreated on Tuesday, weighing on the Nasdaq 100. The iShares Semiconductor ETF (SOXX) dropped to a 2.5-month low and closed down more than -4%. Sandisk (SNDK) closed down more than -14% to lead losers in the S&P 500 and Nasdaq 100, and Advanced Micro Devices (AMD), ARM Holdings Plc (ARM), Micron Technology (MU) and Seagate Technology Holdings Plc (STX) closed down more than -8%. Also, Applied Materials (AMAT), Marvell Technology (MRVL), and Lam Research (LRCX) closed down more than -7%, and KLA Corp (KLAC) and Western Digital (WDC) closed down more than -6%. In addition, Intel (INTC) closed down more than -5%, and Qualcomm (QCOM) closed down more than -4%.
Cryptocurrency-exposed stocks moved lower on Tuesday after Bitcoin (^BTCUSD) fell more than -1% to a 1-week low. Galaxy Digital Holdings (GLXY) closed down more than -9%, and MARA Holdings (MARA) closed down more than -4%. Also, Strategy (MSTR), Riot Platforms (RIOT), and Circle Internet Group (CRCL) closed down more than -2%, and Coinbase Global (COIN) closed down -0.39%.
IQVIA Holdings (IQV) closed up more than +13% to lead gainers in the S&P 500 after boosting its full-year revenue forecast to $17.28 billion to $17.48 billion from a previous forecast of $17.15 billion to $17.35 billion, stronger than the consensus of $17.28 billion.
Sherwin-Williams (SHW) closed up more than +8% to lead gainers in the Dow Jones Industrials after reporting adjusted EPS of $3.70, better than the consensus of $3.51, and raising its full-year adjusted EPS forecast to $11.80 to $12.20 from a previous forecast of $11.50 to $11.90, above the consensus of $11.76.
Nucor (NUE) closed up more than +7% after reporting Q2 net sales of $10.40 billion, above the consensus of $10.03 billion.
Coca-Cola (KO) closed up +5% after raising its full-year comparable EPS forecast to +9% to +10% from a previous view of +8% to +9%.
Boeing (BA) closed up more than +4% after reporting Q2 revenue of $24.56 billion, stronger than the consensus of $24.26 billion.
Amkor Technology (AMKR) closed down more than -24% after forecasting Q3 net sales of $1.95 billion to $2.05 billion, weaker than the consensus of $2.11 billion.
Corning (GLW) closed down more than -12% after forecasting Q3 core sales of $4.9 billion to $5.0 billion, the midpoint below the consensus of $5.0 billion.
Noble Corp. (NE) closed down more than -9% after cutting its full-year adjusted Ebitda estimate to $850 million to $925 million from a previous forecast of $940 million to $1.02 billion, below the consensus of $970.3 million.
Carrier Global (CARR) closed down more than -8% after reporting Q2 gross margin of 27.2%, below the consensus of 28.1%.
RXO Inc (RXO) closed down more than -6% after TD Cowen downgraded the stock to sell from hold with a price target of $19.
Earnings Reports (7/29/2026)
Align Technology Inc (ALGN), American Water Works Co Inc (AWK), Amphenol Corp (APH), Aon PLC (AON), Automatic Data Processing Inc (ADP), Biogen Inc (BIIB), Boston Scientific Corp (BSX), Bunge Global SA (BG), Carvana Co (CVNA), CBRE Group Inc (CBRE), CH Robinson Worldwide Inc (CHRW), Chipotle Mexican Grill Inc (CMG), Cognizant Technology Solutions (CTSH), Electronic Arts Inc (EA), Entergy Corp (ETR), Equinix Inc (EQIX), Essex Property Trust Inc (ESS), Everest Group Ltd (EG), Fair Isaac Corp (FICO), Flex Ltd (FLEX), Fortinet Inc (FTNT), Fortive Corp (FTV), Garmin Ltd (GRMN), GE HealthCare Technologies Inc (GEHC), Generac Holdings Inc (GNRC), General Dynamics Corp (GD), Humana Inc (HUM), IDEX Corp (IEX), Invitation Homes Inc (INVH), Johnson Controls International (JCI), L3Harris Technologies Inc (LHX), Lam Research Corp (LRCX), Lennox International Inc (LII), Masco Corp (MAS), Meta Platforms Inc (META), MGM Resorts International (MGM), Microsoft Corp (MSFT), Mid-America Apartment Communities (MAA), Old Dominion Freight Line Inc (ODFL), O'Reilly Automotive Inc (ORLY), Procter & Gamble Co/The (PG), PTC Inc (PTC), Public Storage (PSA), QUALCOMM Inc (QCOM), Regency Centers Corp (REG), Robinhood Markets Inc (HOOD), Smurfit Westrock PLC (SW), Stanley Black & Decker Inc (SWK), Starbucks Corp (SBUX), Tyler Technologies Inc (TYL), Ventas Inc (VTR), Verisk Analytics Inc (VRSK), Vertiv Holdings Co (VRT), VICI Properties Inc (VICI), Vulcan Materials Co (VMC), Waste Management Inc (WM), WEC Energy Group Inc (WEC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mostly Higher on Positive Earnings Results

The S&P 500 Index ($SPX) (SPY) today is up +0.05%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.738%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.12%. September E-mini S&P futures (ESU26) are up +0.05%, and September E-mini Nasdaq futures (NQU26) are down -1.20%.
Stock indexes are mixed today, with the Dow Jones Industrials climbing to a 1.5-week high and the Nasdaq 100 falling to a 2.75-month low. Better-than-expected earnings from Coca-Cola and Sherwin-Williams are supportive of stocks today. However, the Nasdaq 100 is under pressure today amid a deepening rout in chipmakers and AI-infrastructure stocks, driven by fresh concerns over artificial intelligence spending and rising competition from China. Also, the unexpected decline in US July consumer confidence is weighing on market sentiment today. Losses in stock indexes are limited as investors rotate into sectors that tend to generate relatively stable revenue regardless of the economic cycle.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Lower crude oil prices have also eased inflation concerns and are pushing bond yields lower, supporting stocks. Sep WTI crude oil prices (CLU26) are down by more than -1% today to a 1-week low, as the US and Iran extended their pause in hostilities. The focus is now on talks between Iran and Oman over reopening the Strait of Hormuz. The 10-year T-note yield is down -4 bp to 4.61%.
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf and President Trump raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The US May S&P composite-20 home price index rose +1.6% y/y, stronger than expectations of +1.3% y/y and the largest increase in 10 months.
The Conference Board US Jul consumer confidence index unexpectedly fell by -1.4 to 90.8, weaker than expectations of an increase to 92.4.
The US Jul Richmond Fed manufacturing survey rose +1 to 5, weaker than expectations of 6.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 145 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 30% chance of a +25 bp rate hike at the Tue/Wed FOMC meeting.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.06%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei-225 Stock Average fell to a 2-month low and closed down sharply by -3.95%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +6 ticks. The 10-year T-note yield is down -3.4 bp to 4.614%. T-notes are climbing today as a -1% fall in crude oil prices eases inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.192% today. Also, short covering ahead of the 2-day FOMC meeting that begins today is supporting T-note prices. T-notes raced to their highs today after US July consumer confidence unexpectedly declined. Supply pressures are limiting gains in T-notes as the Treasury will auction $44 billion of 7-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 2-week low of 3.106% and is down -0.7 bp to 3.126%. The 10-year UK gilt yield slid to a 1-week low of 4.945% and is down -2.9 bp to 4.968%.
The France Jul consumer confidence survey rose +2 to a 4-month high of 86, stronger than expectations of 85.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today, weighing on the broader market. The iShares Semiconductor ETF (SOXX) dropped to a 2.5-month low and is down more than -5%. Sandisk (SNDK) is down more than -14% to lead losers in the Nasdaq 100, and Western Digital (WDC) is down more than -13%. Also, Seagate Technology Holdings Plc (STX) is down more than -11%, and Micron Technology (MU) and Lam Research (LRCX) are down more than -9%. In addition, Advanced Micro Devices (AMD), ARM Holdings Plc (ARM), Applied Materials (AMAT), and Marvell Technology (MRVL) are down more than -8%, and Intel (INTC) and KLA Corp (KLAC) are down more than -6%.
Cryptocurrency-exposed stocks are moving lower today, with Bitcoin (^BTCUSD) down more than -2% at a 1-week low. Galaxy Digital Holdings (GLXY) is down more than -8%, and MARA Holdings (MARA) is down more than -5%. Also, Riot Platforms (RIOT) is down more than -4%, and Circle Internet Group (CRCL) is down more than -3%. In addition, Coinbase Global (COIN) and Strategy (MSTR) are down more than -1%.
Software stocks are mostly higher today, a supportive factor for the overall market. Workday (WDAY) is up more than +7% to lead gainers in the Nasdaq 100, and Thomson Reuters (TRI) is up more than +6%. Also, Autodesk (ADSK) is up more than +5%, and Adobe (ADBE), Intuit (INTU), ServiceNow (NOW), and Salesforce (CRM) are up more than +4%. In addition, Atlassian (TEAM) is up more than +2%, and Microsoft (MSFT) and Cadence Design Systems (CDNS) are up more than +1%.
Amkor Technology (AMKR) is down more than -22% after forecasting Q3 net sales of $1.95 billion to $2.05 billion, weaker than the consensus of $2.11 billion.
Corning (GLW) is down more than -18% to lead losers in the S&P 500 after forecasting Q3 core sales of $4.9 billion to $5.0 billion, the midpoint below the consensus of $5.0 billion.
Noble Corp. (NE) is down more than -7% after cutting its full-year adjusted Ebitda estimate to $850 million to $925 million from a previous forecast of $940 million to $1.02 billion, below the consensus of $970.3 million.
RXO Inc (RXO) is down more than -6% after TD Cowen downgraded the stock to sell from hold with a price target of $19.
IQVIA Holdings (IQV) is up more than +12% to lead gainers in the S&P 500 after boosting its full-year revenue forecast to $17.28 billion to $17.48 billion from a previous forecast of $17.15 billion to $17.35 billion, stronger than the consensus of $17.28 billion.
Sherwin-Williams (SHW) is up more than +7% to lead gainers in the Dow Jones Industrials after reporting adjusted EPS of $3.70, better than the consensus of $3.51, and raising its full-year adjusted EPS forecast to $11.80 to $12.20 from a previous forecast of $11.50 to $11.90, above the consensus of $11.76.
Coca-Cola (KO) is up more than +6% after raising its full-year comparable EPS forecast to up +9% to +10% from a previous view of +8% to +9%.
Nucor (NUE) is up more than +4% after reporting Q2 net sales of $10.40 billion, above the consensus of $10.03 billion.
Intuitive Surgical (ISRG) is up more than +2% after UBS upgraded the stock to buy from hold with a price target of $500.
Earnings Reports (7/28/2026)
American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Armstrong World Industries Inc (AWI), Avis Budget Group Inc (CAR), Axalta Coating Systems Ltd (AXTA), Axis Capital Holdings Ltd (AXS), Bloom Energy Corp (BE), Boeing Co/The (BA), BXP Inc (BXP), Caesars Entertainment Inc (CZR), Carrier Global Corp (CARR), Centene Corp (CNC), CenterPoint Energy Inc (CNP), Chemed Corp (CHE), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Crane Co (CR), DTE Energy Co (DTE), Ecolab Inc (ECL), Enphase Energy Inc (ENPH), ExlService Holdings Inc (EXLS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), FirstEnergy Corp (FE), Ford Motor Co (F), HF Sinclair Corp (DINO), Hilton Worldwide Holdings Inc (HLT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Incyte Corp (INCY), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KLA Corp (KLAC), Landstar System Inc (LSTR), Liberty Live Holdings Inc (LLYVA), Manhattan Associates Inc (MANH), Mondelez International Inc (MDLZ), NOV Inc (NOV), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), Oshkosh Corp (OSK), PACCAR Inc (PCAR), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PPG Industries Inc (PPG), Qorvo Inc (QRVO), Repligen Corp (RGEN), Rithm Capital Corp (RITM), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Skyworks Solutions Inc (SWKS), STAG Industrial Inc (STAG), Teradyne Inc (TER), Textron Inc (TXT), TransUnion (TRU), United Parcel Service Inc (UPS), Unum Group (UNM), Veralto Corp (VLTO), Visa Inc (V), WP Carey Inc (WPC), Xylem Inc/NY (XYL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed on Earnings Results and Weakness in Chipmakers

The S&P 500 Index ($SPX) (SPY) today is down -0.22%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.68%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.50%. September E-mini S&P futures (ESU26) are down -0.29%, and September E-mini Nasdaq futures (NQU26) are down -1.56%.
Stock indexes are mixed today, with the Dow Jones Industrials posting a 1.5-week high and the Nasdaq 100 falling to a 2.75-month low. Better-than-expected earnings from Coca-Cola and Sherwin-Williams are supportive of stocks today. However, the Nasdaq 100 is under pressure today amid a deepening rout in chipmakers and AI-infrastructure stocks, driven by fresh concerns over artificial intelligence spending and rising competition from China. Also, losses in stock indexes are limited as investors rotate into other sectors of the market that tend to generate relatively stable revenues regardless of the economic cycle.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Lower crude oil prices have also eased inflation concerns and are pushing bond yields lower, supporting stocks. Sep WTI crude oil prices (CLU26) are down by more than 1% today to a 1-week low, as the US and Iran extended their pause in hostilities. The focus is now on talks between Iran and Oman over reopening the Strait of Hormuz. The 10-year T-note yield is down -2 bp to 4.63%
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf and President Trump raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The US May S&P composite-20 home price index rose +1.6% y/y, stronger than expectations of +1.3% y/y and the largest increase in 10 months.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 32% chance of a +25 bp rate hike at the next FOMC meeting on Tue/Wed.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.37%. China's Shanghai Composite closed down -1.16%. Japan's Nikkei-225 Stock Average fell to a 2-month low and closed down sharply by -3.95%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +4 ticks. The 10-year T-note yield is down -2.2 bp to 4.626%. T-notes are climbing today as a -1% fall in crude oil prices eases inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.192% today. Also, short covering ahead of the 2-day FOMC meeting that begins today is supporting T-note prices. Supply pressures are limiting gains in T-notes as the Treasury will auction $44 billion of 7-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield fell to a 2-week low of 3.106% and is down -0.4 bp to 3.129%. The 10-year UK gilt yield slid to a 1-week low of 4.945% and is down -2.7 bp to 4.970%.
The France Jul consumer confidence survey rose +2 to a 4-month high of 86, stronger than expectations of 85.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today, weighing on the broader market. The iShares Semiconductor ETF (SOXX) dropped to a 2.25-month low and is down more than -5%. Western Digital (WDC) is down more than -13% to lead losers in the Nasdaq 100, and Seagate Technology Holdings Plc (STX) is down more than -12%. Also, Micron Technology (MU) and Marvell Technology (MRVL) are down more than -9%, and Advanced Micro Devices (AMD), ARM Holdings Plc (ARM), and Lam Research (LRCX) are down more than -8%. In addition, Applied Materials (AMAT) and Intel (INTC) are down more than -7%, and KLA Corp (KLAC) is down more than -6%.
Cryptocurrency-exposed stocks are moving lower today, with Bitcoin (^BTCUSD) down more than -3% at a 1-week low. Galaxy Digital Holdings (GLXY) is down more than -9%, and MARA Holdings (MARA) and Riot Platforms (RIOT) are down more than -7%. Also, Circle Internet Group (CRCL) is down more than -6%, and Coinbase Global (COIN) and Strategy (MSTR) are down more than -4%.
Software stocks are mostly higher today, a supportive factor for the overall market. Autodesk (ADSK), Thomson Reuters (TRI), and Workday (WDAY) are up more than +4%, and Adobe (ADBE), Intuit (INTU), and Salesforce (CRM) closed up more than +3%. Also, Microsoft (MSFT), ServiceNow (NOW), Atlassian (TEAM), and Cadence Design Systems (CDNS) are up more than +1%.
Amkor Technology (AMKR) is down more than -21% after forecasting Q3 net sales of $1.95 billion to $2.05 billion, weaker than the consensus of $2.11 billion.
Corning (GLW) is down more than -18% to lead losers in the S&P 500 after forecasting Q3 core sales of $4.9 billion to $5.0 billion, the midpoint below the consensus of $5.0 billion.
Noble Corp. (NE) is down more than -5% after cutting its full-year adjusted Ebitda estimate to $850 million to $925 million from a previous forecast of $940 million to $1.02 billion, below the consensus of $970.3 million.
RXO Inc (RXO) is down more than -5% after TD Cowen downgraded the stock to sell from hold with a price target of $19.
IQVIA Holdings (IQV) is up more than +14% to lead gainers in the S&P 500 after boosting its full-year revenue forecast to $17.28 billion to $17.48 billion from a previous forecast of $17.15 billion to $17.35 billion, stronger than the consensus of $17.28 billion.
Sherwin-Williams (SHW) is up more than +6% to lead gainers in the Dow Jones Industrials after reporting adjusted EPS of $3.70, better than the consensus of $3.51, and raising its full-year adjusted EPS forecast to $11.80 to $12.20 from a previous forecast of $11.50 to $11.90, above the consensus of $11.76.
Coca-Cola (KO) is up more than +6% after raising its full-year comparable EPS forecast to up +9% to +10% from a previous view of +8% to +9%.
Nucor (NUE) is up more than +5% after reporting Q2 net sales of $10.40 billion, above the consensus of $10.03 billion.
Intuitive Surgical (ISRG) is up more than +4% after UBS upgraded the stock to buy from hold with a price target of $500.
Earnings Reports (7/28/2026)
American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Armstrong World Industries Inc (AWI), Avis Budget Group Inc (CAR), Axalta Coating Systems Ltd (AXTA), Axis Capital Holdings Ltd (AXS), Bloom Energy Corp (BE), Boeing Co/The (BA), BXP Inc (BXP), Caesars Entertainment Inc (CZR), Carrier Global Corp (CARR), Centene Corp (CNC), CenterPoint Energy Inc (CNP), Chemed Corp (CHE), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Crane Co (CR), DTE Energy Co (DTE), Ecolab Inc (ECL), Enphase Energy Inc (ENPH), ExlService Holdings Inc (EXLS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), FirstEnergy Corp (FE), Ford Motor Co (F), HF Sinclair Corp (DINO), Hilton Worldwide Holdings Inc (HLT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Incyte Corp (INCY), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KLA Corp (KLAC), Landstar System Inc (LSTR), Liberty Live Holdings Inc (LLYVA), Manhattan Associates Inc (MANH), Mondelez International Inc (MDLZ), NOV Inc (NOV), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), Oshkosh Corp (OSK), PACCAR Inc (PCAR), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PPG Industries Inc (PPG), Qorvo Inc (QRVO), Repligen Corp (RGEN), Rithm Capital Corp (RITM), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Skyworks Solutions Inc (SWKS), STAG Industrial Inc (STAG), Teradyne Inc (TER), Textron Inc (TXT), TransUnion (TRU), United Parcel Service Inc (UPS), Unum Group (UNM), Veralto Corp (VLTO), Visa Inc (V), WP Carey Inc (WPC), Xylem Inc/NY (XYL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed as Weakness in Chipmakers Deepens

These two stocks have significant upside.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
*Stock prices used were the afternoon prices of July 25, 2026. The video was published on July 27, 2026.
Should you buy stock in Adobe right now?
Before you buy stock in Adobe, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Adobe wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $377,990!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,269,518!*
Now, it’s worth noting Stock Advisor’s total average return is 896% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 27, 2026.
Parkev Tatevosian, CFA has positions in Netflix. The Motley Fool has positions in and recommends Adobe and Netflix. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Stocks That Can Double Your Money in 2 Years

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.02%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.32%. September E-mini S&P futures (ESU26) rose +0.02%, and September E-mini Nasdaq futures (NQU26) fell -0.33%.
Stock indexes settled mixed on Monday, with the Dow Jones Industrial Average posting a 1-week high and the Nasdaq 100 falling to a 2.5-month low. The weakness in chipmakers and AI-infrastructure stocks on Monday weighed on the Nasdaq 100 and limited gains in the broader market. Investors rotated out of semiconductor and AI-infrastructure stocks on Monday and into beaten-down sectors, such as software.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks initially jumped on Monday after the US and Iran held off on attacks for a third straight day, easing geopolitical risks, pushing crude oil prices sharply lower, and helping lift global stock and bond markets. On Sunday, Mike Waltz, US ambassador to the United Nations, said the US is giving diplomacy “some space.” The plunge in crude oil prices on Monday knocked the 10-year T-note yield down -4 bp to 4.64%.
Monday’s US economic news showed strength in the economy and is supportive of stocks after US Jun capital goods new orders nondefense ex-aircraft, a proxy for capital spending, rose +0.9% m/m, stronger than expectations of +0.7% m/m.
Sep WTI crude oil prices (CLU26) plunged by more than -7% on Monday as tensions eased in the Middle East after the US held off against further airstrikes on Iran for a third straight day and Iran signaled it was refraining from any retaliation as it held negotiations with Oman over the Strait of Hormuz.
However, tensions remain high in the Middle East as the US maintains its blockade of Iranian oil shipments in the Persian Gulf and President Trump raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 38% chance of a +25 bp rate hike at the next FOMC meeting on Tue/Wed.
Overseas stock markets settled higher on Monday. The Euro Stoxx 50 climbed to a 2.5-week high and closed up +0.02%. China's Shanghai Composite closed up +1.15% on Friday. Japan's Nikkei-225 Stock Average closed up +0.50%.
Interest Rates
September 10-year T-notes (ZNU6) on Monday closed up +8 ticks. The 10-year T-note yield fell -3.6 bp to 4.641%. T-notes moved higher amid Monday’s -7% plunge in crude oil prices, which eased inflation expectations. The 10-year breakeven inflation rate fell to a 1-month low of 2.201% on Monday. Weak demand for the Treasury’s $70 billion auction of 5-year T-notes limited gains in T-notes as the auction had a bid-to-cover ratio of 2.28, below the 10-auction average of 2.35 and the lowest in 3.75 years.
European government bond yields moved lower on Monday. The 10-year German bund yield fell -3.9 bp to 3.133%. The 10-year UK gilt yield fell -3.5 bp to 4.997%.
The German Jul IFO business confidence index rose +0.9 to a 5-month high of 86.6, stronger than expectations of 86.0.
ECB Governing Council member Peter Kazimir said "he remains of the view that the ECB will have to raise interest rates at least one more time" to ensure that inflation risks don't spin out of control.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks retreated on Monday, weighing on the broader market. The iShares Semiconductor ETF (SOXX) fell to a 1-week low and closed down more than -2%. Sandisk (SNDK) closed down more than -12% to lead losers in the S&P 500 and Nasdaq 100, and Advanced Micro Devices (AMD) and ASML Holding NV (ASML) closed down more than -5%. Also, Western Digital (WDC), Lam Research (LRCX), and Seagate Technology Holdings Plc (STX) closed down more than -4%, and Micron Technology (MU), Applied Materials (AMAT), and KLA Corp (KLAC) closed down more than -3%. In addition, Marvell Technology (MRVL) closed down more than -2%.
Energy producers and service providers moved lower on Monday amid the -7% decline in crude oil prices. Devon Energy (DVN), Diamondback Energy (FANG), and Occidental Petroleum (OXY) closed down more than -4%, and APA Corp (APA), ConocoPhillips (COP), and Haliburton (HAL) closed down more than -3%. Also, Chevron (CVX) closed down more than -2%, and ExxonMobil Holdings (XOM) and SLB Ltd (SLB) closed down more than -1%.
Software stocks rallied on Monday, a supportive factor for the overall market. Atlassian (TEAM) closed up more than +10%, and Workday (WDAY) closed up more than +9% to lead gainers in the S&P 500. Also, Thomson Reuters (TRI) closed up more than +8%, and Autodesk (ADSK) and Palantir Technologies (PLTR) closed up more than +7%. In addition, ServiceNow (NOW) closed up more than +6%, and Salesforce (CRM) closed up more than +6% to lead gainers in the Dow Jones Industrials. Finally, Adobe (ADBE) closed up more than +5%, Oracle (ORCL) closed up more than +4%, Intuit (INTU) and Datadog (DDOG) closed up by more than +2%, and Microsoft (MSFT) closed up by more than +1%.
Airline stocks and cruise line operators moved higher on Monday after crude oil prices plunged more than -7%. American Airlines Group (AAL), Carnival (CCL), Norwegian Cruise Line Holdings (NCLH), and Royal Caribbean Cruises (RCL) closed up more than +3%, and Alaska Air Group (ALK) closed up more than +2%. Also, United Airlines Holdings (UAL) and Delta Air Lines (DAL) closed up more than +1%, and Southwest Airlines (LUV) closed up +0.67%.
CH Robinson Worldwide (CHRW) closed down more than -6%, adding to last Friday’s -9% plunge, to lead trucking and freight companies lower after a Dallas jury awarded $604 million in compensatory damages against the company and two other defendants for a verdict related to a trucking accident. Also, FedEx Freight Holding Company (FDXF) and Marten Transport (MRTN) closed down more than -4%, and Arcbest (ARCB) closed down more than -3%. In addition, Old Dominion Freight Line (ODFL), Knight-Swift Transportation (KNX), JB Hunt Transport (JBHT), and XPO Inc (XPO) closed down more than -2%.
MapLight Therapeutics (MPLT) closed down more than -71% after posting results from a mid-stage trial of its experimental therapy to treat schizophrenia, which Stifel said did not meet the “upside case” scenario.
Nvidia (NVDA) closed down more than -4% to lead losers in the Dow Jones Industrials after announcing it had made a “substantial” investment in AI startup Safe Superintelligence.
Forte Biosciences (FBRX) closed up more than +39% after Argenx SE agreed to buy the company for about $2.2 billion, or $77 a share.
D-Wave Quantum (QBTS) closed up more than +20% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $30.
IonQ (IONQ) closed up more than +9% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $60.
Baker Hughes (BKR) closed up more than +6% after reporting Q2 revenue of $6.74 billion, better than the consensus of $6.51 billion.
Rocket Lab Corp. (RKLB) closed up more than +4% after KGI Securities upgraded the stock to outperform from neutral with a price target of $107.
Earnings Reports (7/28/2026)
American Tower Corp (AMT), Arch Capital Group Ltd (ACGL), Armstrong World Industries Inc (AWI), Avis Budget Group Inc (CAR), Axalta Coating Systems Ltd (AXTA), Axis Capital Holdings Ltd (AXS), Bloom Energy Corp (BE), Boeing Co/The (BA), BXP Inc (BXP), Caesars Entertainment Inc (CZR), Carrier Global Corp (CARR), Centene Corp (CNC), CenterPoint Energy Inc (CNP), Chemed Corp (CHE), CMS Energy Corp (CMS), Coca-Cola Co/The (KO), Corning Inc (GLW), CoStar Group Inc (CSGP), Crane Co (CR), DTE Energy Co (DTE), Ecolab Inc (ECL), Enphase Energy Inc (ENPH), ExlService Holdings Inc (EXLS), Expand Energy Corp (EXE), Extra Space Storage Inc (EXR), FirstEnergy Corp (FE), Ford Motor Co (F), HF Sinclair Corp (DINO), Hilton Worldwide Holdings Inc (HLT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Incyte Corp (INCY), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KLA Corp (KLAC), Landstar System Inc (LSTR), Liberty Live Holdings Inc (LLYVA), Manhattan Associates Inc (MANH), Mondelez International Inc (MDLZ), NOV Inc (NOV), NXP Semiconductors NV (NXPI), Omnicom Group Inc (OMC), Oshkosh Corp (OSK), PACCAR Inc (PCAR), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PPG Industries Inc (PPG), Qorvo Inc (QRVO), Repligen Corp (RGEN), Rithm Capital Corp (RITM), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Seagate Technology Holdings PL (STX), Sherwin-Williams Co/The (SHW), Skyworks Solutions Inc (SWKS), STAG Industrial Inc (STAG), Teradyne Inc (TER), Textron Inc (TXT), TransUnion (TRU), United Parcel Service Inc (UPS), Unum Group (UNM), Veralto Corp (VLTO), Visa Inc (V), WP Carey Inc (WPC), Xylem Inc/NY (XYL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Mixed as AI Angst Offsets Easing Geopolitical Tensions

Key Points
The transaction involved 1,498.0 shares priced at $224.56 per share, representing a total value of ~$336,400 as of July 15, 2026.
This disposition reduced the insider's total equity holdings by 3% across both direct and indirect accounts.
Activity was concentrated in direct holdings; Wadhwani maintains indirect ownership of 355.0 shares through the 2006 Wadhwani Family Trust and the Wadhwani 2020 Family GST Trusts.
The disposal was a non-discretionary transaction executed to satisfy tax withholding obligations upon the vesting of equity awards and does not reflect a change in the insider's market thesis.
David Wadhwani, President, C&P at Adobe Inc. (NASDAQ:ADBE), disposed of 1,498.0 shares of common stock on July 15, 2026, according to a recent SEC Form 4 filing.
Transaction summary
Shares sold (direct)
1,498.0
Transaction value
$336,391
Post-transaction shares (directly held)
42,861.0
Post-transaction shares (indirectly held)
355.0
Post-transaction value
$9.70 million
Transaction value based on SEC Form 4 weighted average sale price ($224.56); post-transaction value based on July 15, 2026 market close ($224.56).
Key questions
What triggered this specific disposition of shares?
The transaction was non-discretionary and initiated to cover tax liabilities associated with the quarterly vesting of restricted stock units. This is a common practice for executives receiving equity-based compensation and occurred automatically under the terms of the award agreements.
What is the scope of Wadhwani's remaining equity exposure?
Following this filing, the insider retains a substantial equity position totaling 43,216.0 shares between direct and indirect holdings. Furthermore, Wadhwani holds 15,826.0 derivative securities, including both vested and unvested stock options, which ensures continued alignment with long-term shareholder interests.
How are the insider's indirect holdings structured?
The 355.0 shares held indirectly are managed through two separate entities: the 2006 Wadhwani Family Trust, where David Wadhwani serves as a trustee, and the Wadhwani 2020 Family GST Trusts, which are established for the benefit of the insider's children.
What is the broader financial context for Adobe at the time of this filing?
As of the July 15, 2026 transaction date, Adobe reported a one-year total return of (38%). The company maintains a market capitalization of $93.5 billion, with trailing twelve-month revenue of $25.2 billion and net income of $7.2 billion, as of the July 16, 2026 market close.
Company Overview
Share Price (as of market close 2026-07-16)
$235.31
Market Capitalization
$93.5 billion
Revenue (TTM)
$25.2 billion
Net Income (TTM)
$7.2 billion
Company Snapshot
Adobe Inc. operates three primary business divisions—Digital Media, Digital Experience, and Publishing and Advertising—delivering a comprehensive suite of cloud-based software solutions that enable content creation, distribution, and amplification across enterprises, teams, and individual users.
The company generates revenue through subscription-based software licensing models, including the cloud-native Document Cloud platform and creative applications, which provide recurring revenue streams from enterprise and consumer segments.
Adobe serves a diverse customer base spanning creative professionals, enterprises requiring digital experience management solutions, and organizations leveraging publishing and advertising technologies across multiple industries.
Adobe Inc. is a globally recognized software provider with a market capitalization of $93.5 billion and TTM revenue of $25.2 billion, positioning it as a market leader in digital content creation and experience management. The company's diversified business model, anchored in subscription-based cloud services, generates substantial profitability with TTM net income of $7.2 billion, reflecting strong operational efficiency and pricing power. Adobe maintains competitive advantages through its integrated product ecosystem, extensive customer relationships, and continuous innovation in artificial intelligence and digital transformation solutions.
What this transaction means for investors
On the surface, investors should not consider Wadhwani’s stock sale significant, as it was explicitly for tax withholding purposes.
However, the Adobe shares he kept tell a different story. The SaaS stock has suffered what some have described as a “SaaSpocalypse,” where investors have dumped software stocks as AI applications take over some software functions at a fraction of the cost.
Admittedly, AI truly has taken over some software functions, meaning this is a trend that investors cannot afford to dismiss. Nonetheless, many software companies have responded successfully by incorporating AI and using the technology to improve their software.
It is in this trading environment that Wadhwani has chosen to keep his remaining shares and options, indicating confidence in the business. Also, the fact that revenue increased by 11% in the first half of fiscal 2026 strongly indicates that AI has not made Adobe’s software obsolete, and its P/E ratio of 13 makes it increasingly attractive.
Thus, amid this sale, investors should not only remain bullish on the software industry but possibly consider investing in this stock when considering the continued revenue growth and low valuation.
Should you buy stock in Adobe right now?
Before you buy stock in Adobe, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Adobe wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $377,990!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,269,518!*
Now, it’s worth noting Stock Advisor’s total average return is 896% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 27, 2026.
Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Adobe President Wadhwani Sells 1,498 Shares for Tax Withholding

The S&P 500 Index ($SPX) (SPY) today is up +0.11%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.54%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.46%. September E-mini S&P futures (ESU26) are up +0.11%, and September E-mini Nasdaq futures (NQU26) are down +0.40%.
Stock indexes gave up early gains today and are trading mixed, with the Nasdaq 100 falling to a 2.5-month low. The weakness in chipmakers is weighing on the broader market as investors rotate out of semiconductor and AI-infrastructure stocks and into beaten-down sectors, such as software.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks initially jumped today, with the Dow Jones Industrial Average posting a 1-week high after the US and Iran held off attacks on one another for a third straight day, easing geopolitical risks, pushing crude oil prices down sharply, and helping lift global stock and bond markets. On Sunday, Mike Waltz, US ambassador to the United Nations, said the US is giving diplomacy “some space.” The plunge in crude oil prices today has knocked the 10-year T-note yield down -3 bp to 4.65%.
Today’s US economic news shows strength in the economy and is supportive of stocks after US Jun capital goods new orders, nondefense ex-aircraft, rose +0.9% m/m, stronger than expectations of +0.7% m/m.
Sep WTI crude oil prices (CLU26) are down more than -6% today, as tensions eased in the Middle East after the US held off against further airstrikes on Iran for a third straight day and Iran signaled it was refraining from any retaliation as it held negotiations with Oman over the Strait of Hormuz.
However, tensions remain high in the Middle East as President Trump has raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 38% chance of a +25 bp rate hike at the next FOMC meeting on Tue/Wed.
Overseas stock markets are higher today. The Euro Stoxx 50 climbed to a 2.5-week high and is up +0.39%. China's Shanghai Composite closed up +1.15% on Friday. Japan's Nikkei-225 Stock Average closed up +0.50%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +5 ticks. The 10-year T-note yield is down -2.4 bp to 4.653%. T-notes are moving higher amid today’s -6% plunge in crude oil prices, which eases inflation expectations. The 10-year breakeven inflation rate fell to a 3-week low of 2.221% today. Supply pressures are limiting the upside in T-notes as the Treasury will auction $183 billion of T-notes today and tomorrow, beginning with a $69 billion auction of 2-year T-notes and a $70 billion auction of 5-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield is down -4.6 bp to 3.126%. The 10-year UK gilt yield is down -4.9 bp to 4.983%.
The German Jul IFO business confidence index rose +0.9 to a 5-month high of 86.6, stronger than expectations of 86.0.
ECB Governing Council member Peter Kazimir said "he remains of the view that the ECB will have to raise interest rates at least one more time" to ensure that inflation risks don't spin out of control.
The markets are discounting an 89% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are falling today, weighing on the broader market. The iShares Semiconductor ETF (SOXX) is down more than -3% at a 1-week low. Sandisk (SNDK) is down more than -11% to lead losers in the S&P 500 and Nasdaq 100, and Advanced Micro Devices (AMD) and Western Digital (WDC) are down more than -6%. Also, Lam Research (LRCX), ASML Holding NV (ASML), Micron Technology (MU), Applied Materials (AMAT), and Seagate Technology Holdings Plc (STX) are down more than -5%, and KLA Corp (KLAC) is down more than -4%. In addition, Marvell Technology (MRVL) is down more than -3%, and Intel (INTC) and Microchip Technology (MCHP) are down more than -2%.
Energy producers and service providers are sliding today amid the -6% decline in crude oil prices. ConocoPhillips (COP), Devon Energy (DVN), Diamondback Energy (FANG), and Occidental Petroleum (OXY) are down more than -2%. Also, Haliburton (HAL), APA Corp (APA), ExxonMobil Holdings (XOM), and Chevron (CVX) are down more than -1%.
MapLight Therapeutics (MPLT) is down more than -64% after posting results from a mid-stage trial of its experimental therapy to treat schizophrenia, which Stifel said did not meet the “upside case” scenario.
Nvidia (NVDA) is down more than -4% to lead losers in the Dow Jones Industrials after announcing it had made a “substantial” investment in AI startup Safe Superintelligence.
Software stocks are rallying today, a supportive factor for the overall market. Workday (WDAY) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Atlassian (TEAM) is up more than +7%. Also, Autodesk (ADSK) and Oracle (ORCL) are up more than +5%, and Salesforce (CRM) is up more than +4% to lead gainers in the Dow Jones Industrials. In addition, Adobe (ADBE) is up more than +4%, and ServiceNow (NOW), Palantir Technologies (PLTR), and Intuit (INTU) are up more than +3%. Finally, Microsoft (MSFT) is up by more than +2%, and Datadog (DDOG) is up by more than +1%.
Airline stocks and cruise line operators are climbing today with the -6% plunge in crude oil prices. Alaska Air Group (ALK), Carnival (CCL), and Norwegian Cruise Line Holdings (NCLH) are up more than +2%. Also, United Airlines Holdings (UAL), American Airlines Group (AAL), and Delta Air Lines (DAL) are up more than +1%. Also, Southwest Airlines (LUV) is up +0.53%.
Forte Biosciences (FBRX) is up more than +39% after Argenx SE agreed to buy the company for about $2.2 billion, or $77 a share.
D-Wave Quantum (QBTS) is up more than +16% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $30.
IonQ (IONQ) is up more than +7% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $60.
Baker Hughes (BKR) is up more than +6% after reporting Q2 revenue of $6.74 billion, better than the consensus of $6.51 billion.
Rocket Lab Corp. (RKLB) is up more than +2% after KGI Securities upgraded the stock to outperform from neutral with a price target of $107.
Earnings Reports (7/27/2026)
Rambus Inc (RMBS), Welltower Inc (WELL), Kilroy Realty Corp (KRC), Brown & Brown Inc (BRO), Principal Financial Group Inc (PFG), UDR Inc (UDR), Sanmina Corp (SANM), Nucor Corp (NUE), Sun Communities Inc (SUI), Universal Health Services Inc (UHS), Amkor Technology Inc (AMKR), F5 Inc (FFIV), Cincinnati Financial Corp (CINF), Element Solutions Inc (ESI), Applied Digital Corp (APLD), Cadence Design Systems Inc (CDNS), Brixmor Property Group Inc (BRX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Fall from Early Highs as Chipmakers Retreat

The S&P 500 Index ($SPX) (SPY) today is up +0.65%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +1.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.56%. September E-mini S&P futures (ESU26) are up +0.65%, and September E-mini Nasdaq futures (NQU26) are up +0.60%.
Stock indexes are moving higher today, with the Dow Jones Industrial Average posting a 1-week high after the US and Iran held off attacks on one another for a third straight day, easing geopolitical risks, pushing crude oil prices down sharply, and helping lift global stock and bond markets. On Sunday, Mike Waltz, US ambassador to the United Nations, said the US is giving diplomacy “some space.” Stocks tied to the global buildout of artificial intelligence, from chipmakers to electrical equipment manufacturers, are leading the broader market higher today. The plunge in crude oil prices today has knocked the 10-year T-note yield down -3 bp to 4.65%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today’s US economic news shows strength in the economy and is supportive for stocks after US Jun capital goods new orders nondefense ex-aircraft, and parts rose +0.9% m/m, stronger than expectations of +0.7% m/m.
Sep WTI crude oil prices (CLU26) are down more than -5% today, as tensions eased in the Middle East after the US held off against further airstrikes on Iran for a third straight day and Iran signaled it was refraining from any retaliation as it held negotiations with Oman over the Strait of Hormuz.
However, tensions remain high in the Middle East as President Trump has raised the possibility of intensified action against Iran. Also, Houthi militants in Yemen claimed to have struck facilities linked to Saudi Aramco in the Red Sea port towns of Jizan and Yanbu on Saturday. Yanbu, the western end of the East-West pipeline, has become Saudi’s key crude export outlet since the Strait of Hormuz has effectively been shut off by the war. Jizan is home to a refinery and export terminal along the Red Sea.
The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. The markets are waiting for results from a raft of megacap technology companies this week, including Amazon.com, Meta Platforms, and Microsoft. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 34% chance of a +25 bp rate hike at the next FOMC meeting on Tue/Wed.
Overseas stock markets are higher today. The Euro Stoxx 50 climbed to a 2.5-week high and is up +1.12%. China's Shanghai Composite closed up +1.15% on Friday. Japan's Nikkei-225 Stock Average closed up +0.50%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +6 ticks. The 10-year T-note yield is down -2.6 bp to 4.651%. T-notes are moving higher amid today’s -6% plunge in crude oil prices, which eases inflation expectations. Supply pressures are limiting the upside in T-notes as the Treasury will auction $183 billion of T-notes today and tomorrow, beginning with a $69 billion auction of 2-year T-notes and a $70 billion auction of 5-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield is down -3.8 bp to 3.134%. The 10-year UK gilt yield is down -3.9 bp to 4.993%.
The German Jul IFO business confidence index rose +0.9 to a 5-month high of 86.6, stronger than expectations of 86.0.
ECB Governing Council member Peter Kazimir said "he remains of the view that the ECB will have to raise interest rates at least one more time" to ensure that inflation risks don't spin out of control.
The markets are discounting an 88% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Software stocks are rallying today, a supportive factor for the overall market. Atlassian (TEAM) and Workday (WDAY) are up more than +6%, and Oracle (ORCL) is up more than +5%. Also, ServiceNow (NOW), Palantir Technologies (PLTR), Salesforce (CRM), Adobe (ADBE), and Datadog (DDOG) are up more than +3%. In addition, Microsoft (MSFT) and Intuit (INTU) are up more than +2%.
Airline stocks and cruise line operators are climbing today with the plunge in crude oil prices. Alaska Air Group (ALK) and Carnival (CCL) are up more than +4%, and United Airlines Holdings (UAL) and Norwegian Cruise Line Holdings (NCLH) are up more than +3%. Also, American Airlines Group (AAL), Delta Air Lines (DAL), Southwest Airlines (LUV), and Royal Caribbean Cruises (RCL) are up more than +2%.
Energy producers and service providers are sliding today, with the -5% plunge in crude oil prices. ConocoPhillips (COP), ExxonMobil Holdings (XOM), Devon Energy (DVN), and Diamondback Energy (FANG) are down more than -2%. Also, Haliburton (HAL), APA Corp (APA), and Chevron (CVX) are down more than -1%.
Forte Biosciences (FBRX) is up more than +39% after Argenx SE agreed to buy the company for about $2.2 billion, or $77 a share.
D-Wave Quantum (QBTS) is up more than +16% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $30.
IonQ (IONQ) is up more than +12% after Benchmark Company LLC reinstated coverage on the stock with a recommendation of buy and a price target of $60.
Baker Hughes (BKR) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 revenue of $6.74 billion, better than the consensus of $6.51 billion.
Mobileye Global (MBLY) is up more than +9% after Piper Sandler upgraded the stock to overweight from neutral with a price target of $12.
Rocket Lab Corp. (RKLB) is up more than +6% after KGI Securities upgraded the stock to outperform from neutral with a price target of $107.
MapLight Therapeutics (MPLT) is down more than -66% after posting results from a mid-stage trial of its experimental therapy to treat schizophrenia, which Stifel said did not meet the “upside case” scenario.
Nvidia (NVDA) is down more than -2% to lead losers in the Dow Jones Industrials after announcing it had made a “substantial” investment in AI startup Safe Superintelligence.
Earnings Reports (7/27/2026)
Rambus Inc (RMBS), Welltower Inc (WELL), Kilroy Realty Corp (KRC), Brown & Brown Inc (BRO), Principal Financial Group Inc (PFG), UDR Inc (UDR), Sanmina Corp (SANM), Nucor Corp (NUE), Sun Communities Inc (SUI), Universal Health Services Inc (UHS), Amkor Technology Inc (AMKR), F5 Inc (FFIV), Cincinnati Financial Corp (CINF), Element Solutions Inc (ESI), Applied Digital Corp (APLD), Cadence Design Systems Inc (CDNS), Brixmor Property Group Inc (BRX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Rally as Middle East Tensions Ease

The S&P 500 Index ($SPX) (SPY) on Friday fell -0.08%, the Dow Jones Industrial Average ($DOWI) (DIA) rose +0.39%, and the Nasdaq 100 Index ($IUXX) (QQQ) fell -1.27%. September E-mini S&P futures (ESU26) fell -0.08%, and September E-mini Nasdaq futures (NQU26) fell -1.34%.
A sharp sell-off in chip stocks put downward pressure on the overall market Friday, with the iShares Semiconductor ETF (SOXX) falling by more than -4%. Chip stocks fell amid ongoing concerns about the sustainability of AI demand, even though Intel forecast a sharp short-term increase in Q3 sales tied to data center demand.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Another bearish factor was President Trump’s new tariff regime on 60 nations and his threat of new EU tariffs in retaliation for the EU’s $1 billion fine for Alphabet. Also, the markets are worried that the US might expand its military attacks on Iran, as President Trump said he is considering.
On the bullish side, WTI crude oil prices fell by -3% as oil shipments in the Red Sea continue despite Houthi threats. Stocks also saw support as the 10-year T-note yield fell -1.4 bp.
President Trump late Thursday announced broad tariffs ranging from 10% to 12.5% on 60 nations, replacing the 10% global import tax that expired. The new tariffs are based on trade authority under Section 301 of the Trade Act of 1974 tied to a claim of forced labor in supply chains. Mr. Trump had to seek new trade authority after the Supreme Court struck down his so-called reciprocal tariffs in February. Mr. Trump replaced the reciprocal tariffs with a 10% global import tax that expired Friday.
The new forced-labor tariffs exclude some key items such as fuel, foods, fertilizer, and products covered by the North American trade agreement with Mexico and Canada. The new tariffs also exclude automobiles, metals, and drugs, which are covered by tariffs based on a different trade authority. The Trump administration has a raft of other Section 301 investigations underway that could be used to impose more tariffs in the future, stacked on top of today’s forced-labor tariff.
Sep WTI crude oil prices (CLU26) fell -3.12% on Friday, reversing about half of Thursday’s +6.17% rally. Meanwhile, Sep Brent crude oil prices (CBU26) fell back to the $97-per-barrel area after hitting a 2-month high of $102 on Thursday. Oil prices fell as oil tankers continued to move through the Red Sea despite Houthi threats, with some oil tankers turning off their location transponders.
WTI oil prices soared by more than +6% on Thursday after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea. President Trump responded by saying on Thursday that he holds Iran responsible for the Houthi attacks and telling Axios in an interview that he is considering a "massive attack" that would be "bigger than ever before" and is "close to making a decision on it."
The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt.
Friday’s US PMI report was mixed for the dollar. The S&P July manufacturing PMI fell slightly by -0.1 point to 53.8, weaker than expectations for a +0.5 point increase to 54.4. However, the S&P July services PMI rose by +2.4 points to 53.6, which was stronger than expectations for a +0.3 point increase to 51.5.
US June new home sales rose by +1.6% m/m to 628,000 from a revised May level of 618,000 (preliminary 580,000), which was stronger than expectations of 607,000. However, June building permits fell -2.6% to 1.374 million.
The outlook for strong Q2 earnings, which began in earnest this week, is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1’s blowout earnings of +30%, which was more than double the +12% analysts had expected. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 89% of S&P 500 companies that reported Q2 earnings beating estimates, according to data compiled by Bloomberg.
The markets are discounting a 38% chance of a +25 bp rate hike at the next FOMC meeting on July 28-29.
Overseas stock markets on Friday closed mixed. The Euro Stoxx 50 closed up +1.14%. China's Shanghai Composite closed down -1.61% on Friday. Japan's Nikkei-225 Stock Average closed down -2.73%.
Interest Rates
September 10-year T-notes (ZNU6) on Friday rose +6.5 ticks. The 10-year T-note yield fell -1.4 bp to 4.679%, down from the 1.5-year high of 4.712% posted early in the session. The 10-year T-note yield rose by a net +13 bp this week on inflation concerns tied to the surge in oil prices and President Trump’s new round of tariffs. Yet, the T-note yield Friday fell back as the 10-year inflation expectations rate fell by -1.9 bp to 2.245%, tied in part to the idea that the surge in oil prices and the new tariffs will dampen US economic growth and possibly cause the Fed to be less hawkish.
European government bond yields traded lower. The 10-year German bund yield fell -3.0 bp to 3.172%, down from Thursday’s 15-year high of 3.128%. The 10-year UK gilt yield fell -7.0 bp to 5.032%, down from Thursday’s 2-month high of 5.122%.
The ECB at its policy meeting on Thursday left its key deposit rate unchanged at 2.25%, in line with market expectations. The ECB said it left rates unchanged, awaiting further data to determine whether additional rate hikes are necessary to address the inflation outlook. However, ECB President Christine Lagarde said, "Risks to the inflation outlook are to the upside." The markets are discounting a 90% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
The Magnificent 7 closed mixed, stabilizing after Thursday’s sharp sell-off. Alphabet (GOOGL) rose +0.65% on Friday after falling -7% on Thursday. Tesla (TSLA) on Friday closed down -2%, adding to Thursday’s -14% plunge. Apple (AAPL) closed the day up +3.53%.
The chip sector closed sharply lower on Friday, despite Intel's (INTC) blockbuster revenue forecast, on concerns about overspending on data centers and an AI bubble. Intel forecasted Q3 revenue of $15.8-16.8 billion, well above the analyst consensus of $15.1 billion, with an expected +59% q/q surge in data center sales. Despite that revenue forecast, Intel (INTC) fell more than -7%. Other than Intel, chip companies that closed more than -5% lower included Arm Holdings (ARM), Marvell Technologies (MRVL), Micron Technology (MU), and GlobalFoundries (GFS).
Software stocks showed strength, rebounding higher after Thursday’s losses. Atlassian (TEAM) closed up more than +8%, ServiceNow (NOW) closed up more than +7%, and Adobe (ADBE) closed up more than +6%. Workday (WDAY) and Intuit (INTU) closed up more than +5%.
Oracle (ORCL) fell by more than -4% despite its favorable announcement of a 10-year contract with the US Department of Defense, valued at more than $3 billion for the first 5 years and possibly as much as $7 billion over 10 years. Oracle fell amid market concerns about its heavy capital spending and data center exposure.
Charter Communications (CHTR) fell -1.47% after reporting an earnings miss.
Newmont Corp (NEM) fell -1.62% despite reporting favorable Q2 earnings and maintaining its full-year production guidance.
Earnings Reports (7/27/2026)
Rambus Inc (RMBS), Welltower Inc (WELL), Kilroy Realty Corp (KRC), Brown & Brown Inc (BRO), Principal Financial Group Inc (PFG), UDR Inc (UDR), Sanmina Corp (SANM), Nucor Corp (NUE), Sun Communities Inc (SUI), Universal Health Services Inc (UHS), Amkor Technology Inc (AMKR), F5 Inc (FFIV), Cincinnati Financial Corp (CINF), Element Solutions Inc (ESI), Applied Digital Corp (APLD), Cadence Design Systems Inc (CDNS), Brixmor Property Group Inc (BRX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.