Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. The company is involved in the licensing, marketing, research, and development of microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services. It also offers system IP products, including memory controller IP, interconnect IP, and other on-chip peripheral components; and compute platforms for a range of devices and applications. The company's products are used in various markets, such as automotive, computing infrastructure, consumer technologies, and Internet of things. It operates in the United States, the People's Republic of China, Taiwan, the Republic of Korea, and internationally. The company was founded in 1990 and is headquartered in Cambridge, the United Kingdom. Arm Holdings plc operates as a subsidiary of Kronos II LLC.

Arm Holdings plc

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.
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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.
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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 ($SPX) (SPY) today is down -0.71%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -1.53%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.98%. September E-mini S&P futures (ESU26) are down -0.75%, and September E-mini Nasdaq futures (NQU26) are down -1.03%.
Stock indexes are falling today, 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 are selling off today, 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.
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The markets were little changed following the results of the 2-day FOMC meeting early this afternoon, with policymakers keeping interest rates unchanged in a 9-3 decision. Also, earnings results from Microsoft and Meta Platforms after today’s close will be looked at to see whether the vast spending behind the buildout of artificial intelligence can deliver adequate returns. The 10-year T-note yield is up +4 bp to 4.64%.
Sep WTI crude oil prices (CLU26) jumped by more than +7% today 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 34% chance of a +25 bp rate hike at the conclusion of today’s FOMC meeting.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.73%. 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) today are down -9 ticks. The 10-year T-note yield is up +3.0 bp to 4.637%. T-notes are under pressure today from a +7% surge in crude oil prices, which raises inflation expectations and is hawkish for Fed policy. Also, long liquidation and position evening are weighing on T-notes ahead of the FOMC’s interest rate decision later today.
European government bond yields are moving higher today. The 10-year German bund yield is up +5.0 bp to 3.154%. The 10-year UK gilt yield is up +7.7 bp to 5.021%.
The German Jun import price index eased to 6.1% y/y from 6.8% y/y in May.
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 sharply lower today, weighing on the broader market. The Philadelphia Stock Exchange Semiconductor Index ($SOX) dropped to a 2.5-month low and is down more than -3%. Nebius Group NV (NBIS) is down more than -9% to lead losers in the Nasdaq 100, and KLA Corp (KLAC) and Sandisk (SNDK) are down more than -7%. Also, Applied Materials (AMAT), NXP Semiconductors NV (NXPI), and ARM Holdings (ARM) are down by more than -5%, and Advanced Micro Devices (AMD) is down more than -4%. In addition, Marvell Technology (MRVL), Lam Research (LRCX), and Microchip Technology (MCHP) are down more than -3%, and Nvidia (NVDA), Intel (INTC), and Texas Instruments (TXN) are down more than -2%.
Trucking and freight companies are under pressure today from soaring crude oil prices. ArcBest (ARCB) is down more than -7%, and Saia Inc (SAIA), FedEx Freight Holding (FDXF), JB Hunt Transport Services (JBHT), and CH Robinson Worldwide (CHRW) are down more than -2%. Also, Old Dominion Freight Line (ODFL), Marten Transport Ltd (MRTN), Knight-Swift Transportation Holdings (KNX), and XPO Inc (XPO) are down more than -1%.
Airline stocks are sliding today with the surge in crude oil prices. Alaska Air Group (ALK) is down more than -3%, and Delta Air Lines (DAL) and Southwest Airlines (LUV) are down more than -2%. Also, American Airlines Group (AAL) and United Airlines Holdings (UAL) are down more than -1%.
Energy producers and service providers are climbing today, with crude oil prices up by more than +7%. Diamondback Energy (FANG) is up more than +4%, and ConocoPhillips (COP), APA Corp (APA), Devon Energy (DVN), ExxonMobil Holdings (XOM), and Occidental Petroleum (OXY) are up more than +3%. Also, Baker Hughes (BKR) and Chevron (CVX) are up more than +2%, and Phillips 66 (PSX) and Valero Energy (VLO) are up more than +1%.
Lennox International (LII) is down more than -19% 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) is down more than -13% after reporting Q2 net sales of $3.27 billion, below the consensus of $3.39 billion.
Avis Budget Group (CAR) is down more than -11% after reporting Q2 EPS of 98 cents, well below the consensus of $1.91.
Masco Corp (MAS) is down more than -10% after reporting Q2 net sales of $1.99 billion, weaker than the consensus of $2.08 billion.
Caterpillar (CAT) is 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.
Humana (HUM) is down more than -6% after it maintained its full-year profit outlook despite posting better-than-expected Q2 profit.
Garmin Ltd (GRMN) is up more than +17% 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) is up more than +11% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of $1.13, better than the consensus of $1.04.
Amphenol (APH) is up more than +6% after reporting Q2 net sales of $8.76 billion, better than the consensus of $8.31 billion.
Teradyne (TER) is up more than +5% after reporting Q2 net revenue of $1.33 billion, stronger than the consensus of $1.22 billion.
Ford Motor (F) is up more than +5% 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 (7/29/2026)
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 Tumble as Chipmakers Plunge, Oil Spikes

The following companies are expected to report earnings after hours on 07/29/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
Microsoft Corporation (MSFT)is reporting for the quarter ending June 30, 2026. The computer software company's consensus earnings per share forecast from the 15 analysts that follow the stock is $4.21. This value represents a 15.34% increase compared to the same quarter last year. In the past year MSFT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 4.91%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for MSFT is 23.55 vs. an industry ratio of 20.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Meta Platforms, Inc. (META)is reporting for the quarter ending June 30, 2026. The internet software company's consensus earnings per share forecast from the 13 analysts that follow the stock is $7.10. This value represents a 0.56% decrease compared to the same quarter last year. In the past year META has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 8.94%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for META is 20.18 vs. an industry ratio of 143.20.
Lam Research Corporation (LRCX)is reporting for the quarter ending June 30, 2026. The electric company company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.69. This value represents a 27.07% increase compared to the same quarter last year. In the past year LRCX has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 8.09%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for LRCX is 47.47 vs. an industry ratio of 28.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Arm Holdings plc (ARM)is reporting for the quarter ending June 30, 2026. The electric company company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.18. This value represents a 12.50% increase compared to the same quarter last year. ARM missed the consensus earnings per share in the 1st calendar quarter of 2026 by -5.26%. Zacks Investment Research reports that the 2027 Price to Earnings ratio for ARM is 218.52 vs. an industry ratio of 28.70, implying that they will have a higher earnings growth than their competitors in the same industry.
QUALCOMM Incorporated (QCOM)is reporting for the quarter ending June 30, 2026. The electric company company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.54. This value represents a 32.75% decrease compared to the same quarter last year. In the past year QCOM has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2026 Price to Earnings ratio for QCOM is 20.41 vs. an industry ratio of 28.70.
Starbucks Corporation (SBUX)is reporting for the quarter ending June 30, 2026. The restaurant company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.66. This value represents a 32.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for SBUX is 42.78 vs. an industry ratio of -4.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Fortinet, Inc. (FTNT)is reporting for the quarter ending June 30, 2026. The security company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.66. This value represents a 13.79% increase compared to the same quarter last year. In the past year FTNT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 37.74%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for FTNT is 53.56 vs. an industry ratio of 254.80.
Equinix, Inc. (EQIX)is reporting for the quarter ending June 30, 2026. The reit company's consensus earnings per share forecast from the 5 analysts that follow the stock is $10.14. This value represents a 2.32% increase compared to the same quarter last year. In the past year EQIX has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 9.54%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for EQIX is 27.06 vs. an industry ratio of 14.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Canadian Pacific Kansas City Limited (CP)is reporting for the quarter ending June 30, 2026. The transportation (rail) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.89. This value represents a 9.88% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for CP is 24.85 vs. an industry ratio of 18.00, implying that they will have a higher earnings growth than their competitors in the same industry.
O'Reilly Automotive, Inc. (ORLY)is reporting for the quarter ending June 30, 2026. The wholesale retail company's consensus earnings per share forecast from the 10 analysts that follow the stock is $0.85. This value represents a 8.97% increase compared to the same quarter last year. ORLY missed the consensus earnings per share in the 4th calendar quarter of 2025 by -1.39%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for ORLY is 28.14 vs. an industry ratio of 20.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Robinhood Markets, Inc. (HOOD)is reporting for the quarter ending June 30, 2026. The investment bankers company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.43. This value represents a 2.38% increase compared to the same quarter last year. HOOD missed the consensus earnings per share in the 1st calendar quarter of 2026 by -5%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for HOOD is 47.57 vs. an industry ratio of 16.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Deutsche Bank AG (DB)is reporting for the quarter ending June 30, 2026. The bank (foreign) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.91. This value represents a 68.52% increase compared to the same quarter last year. DB missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -30.77%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for DB is 9.04 vs. an industry ratio of 12.20.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After-Hours Earnings Report for July 29, 2026 : MSFT, META, LRCX, ARM, QCOM, SBUX, FTNT, EQIX, CP, ORLY, HOOD, DB

The S&P 500 Index ($SPX) (SPY) today is down -0.71%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -1.53%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.98%. September E-mini S&P futures (ESU26) are down -0.75%, and September E-mini Nasdaq futures (NQU26) are down -1.03%.
Stock indexes are falling today, 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 are selling off today, 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.
The markets are awaiting the results of the 2-day FOMC meeting that ends early this afternoon, with policymakers expected to keep interest rates unchanged. Also, earnings results from Microsoft and Meta Platforms after today’s close will be looked at to see whether the vast spending behind the buildout of artificial intelligence can deliver adequate returns. The 10-year T-note yield is up +4 bp to 4.64%.
Sep WTI crude oil prices (CLU26) jumped by more than +7% today 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 34% chance of a +25 bp rate hike at the conclusion of today’s FOMC meeting.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.73%. 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) today are down -9 ticks. The 10-year T-note yield is up +3.0 bp to 4.637%. T-notes are under pressure today from a +7% surge in crude oil prices, which raises inflation expectations and is hawkish for Fed policy. Also, long liquidation and position evening are weighing on T-notes ahead of the FOMC’s interest rate decision later today.
European government bond yields are moving higher today. The 10-year German bund yield is up +5.0 bp to 3.154%. The 10-year UK gilt yield is up +7.7 bp to 5.021%.
The German Jun import price index eased to 6.1% y/y from 6.8% y/y in May.
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 sharply lower today, weighing on the broader market. The Philadelphia Stock Exchange Semiconductor Index ($SOX) dropped to a 2.5-month low and is down more than -3%. Nebius Group NV (NBIS) is down more than -9% to lead losers in the Nasdaq 100, and KLA Corp (KLAC) and Sandisk (SNDK) are down more than -7%. Also, Applied Materials (AMAT), NXP Semiconductors NV (NXPI), and ARM Holdings (ARM) are down by more than -5%, and Advanced Micro Devices (AMD) is down more than -4%. In addition, Marvell Technology (MRVL), Lam Research (LRCX), and Microchip Technology (MCHP) are down more than -3%, and Nvidia (NVDA), Intel (INTC), and Texas Instruments (TXN) are down more than -2%.
Trucking and freight companies are under pressure today from soaring crude oil prices. ArcBest (ARCB) is down more than -7%, and Saia Inc (SAIA), FedEx Freight Holding (FDXF), JB Hunt Transport Services (JBHT), and CH Robinson Worldwide (CHRW) are down more than -2%. Also, Old Dominion Freight Line (ODFL), Marten Transport Ltd (MRTN), Knight-Swift Transportation Holdings (KNX), and XPO Inc (XPO) are down more than -1%.
Airline stocks are sliding today with the surge in crude oil prices. Alaska Air Group (ALK) is down more than -3%, and Delta Air Lines (DAL) and Southwest Airlines (LUV) are down more than -2%. Also, American Airlines Group (AAL) and United Airlines Holdings (UAL) are down more than -1%.
Energy producers and service providers are climbing today, with crude oil prices up by more than +7%. Diamondback Energy (FANG) is up more than +4%, and ConocoPhillips (COP), APA Corp (APA), Devon Energy (DVN), ExxonMobil Holdings (XOM), and Occidental Petroleum (OXY) are up more than +3%. Also, Baker Hughes (BKR) and Chevron (CVX) are up more than +2%, and Phillips 66 (PSX) and Valero Energy (VLO) are up more than +1%.
Lennox International (LII) is down more than -19% 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) is down more than -13% after reporting Q2 net sales of $3.27 billion, below the consensus of $3.39 billion.
Avis Budget Group (CAR) is down more than -11% after reporting Q2 EPS of 98 cents, well below the consensus of $1.91.
Masco Corp (MAS) is down more than -10% after reporting Q2 net sales of $1.99 billion, weaker than the consensus of $2.08 billion.
Caterpillar (CAT) is 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.
Humana (HUM) is down more than -6% after it maintained its full-year profit outlook despite posting better-than-expected Q2 profit.
Garmin Ltd (GRMN) is up more than +17% 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) is up more than +11% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted EPS of $1.13, better than the consensus of $1.04.
Amphenol (APH) is up more than +6% after reporting Q2 net sales of $8.76 billion, better than the consensus of $8.31 billion.
Teradyne (TER) is up more than +5% after reporting Q2 net revenue of $1.33 billion, stronger than the consensus of $1.22 billion.
Ford Motor (F) is up more than +5% 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 (7/29/2026)
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Tumble Ahead of FOMC as Chipmakers Plunge

The S&P 500 Index ($SPX) (SPY) today is down -0.18%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.85%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.23%. September E-mini S&P futures (ESU26) are down -0.25%, and September E-mini Nasdaq futures (NQU26) are down -0.30%.
Stock indexes turned lower today as crude prices surged, and bond yields jumped after President Trump said the US will “hit Iran hard” after a recent attack from Iran that targeted a US base in Jordan. The markets are awaiting the results of the 2-day FOMC meeting that ends early this afternoon, with policymakers expected to keep interest rates unchanged. Also, earnings results from Microsoft and Meta Platforms after today’s close will be looked at to see whether the vast spending behind the buildout of artificial intelligence can deliver adequate returns. The 10-year T-note yield is up +3 bp to 4.63%.
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Sep WTI crude oil prices (CLU26) jumped by more than +6% today 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 86% of the 170 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 36% chance of a +25 bp rate hike at the conclusion of today’s FOMC meeting.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.48%. 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) today are down -8 ticks. The 10-year T-note yield is up +2.6 bp to 4.633%. T-notes are under pressure today from a +6% surge in crude oil prices, which raises inflation expectations and is hawkish for Fed policy. Also, long liquidation and position evening are weighing on T-notes ahead of the FOMC’s interest rate decision later today.
European government bond yields are moving higher today. The 10-year German bund yield is up +3.2 bp to 3.136%. The 10-year UK gilt yield is up +5.3 bp to 4.997%.
The German Jun import price index eased to 6.1% y/y from 6.8% y/y in May.
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 moving lower today, weighing on the broader market. Nebius Group NV (NBIS) is down more than -8% to lead losers in the Nasdaq 100, and Sandisk (SNDK) is down more than -6%. Also, Applied Materials (AMAT) and KLA Corp (KLAC) are down by more than -4%, and NXP Semiconductors NV (NXPI) and ARM Holdings (ARM) are down by more than -3%. In addition, Advanced Micro Devices (AMD), ASML Holding NV (ASML), Micron Technology (MU), Lam Research (LRCX), and Microchip Technology (MCHP) are down more than -2%.
Trucking and freight companies are under pressure today from soaring crude oil prices. ArcBest (ARCB) is down more than -4%, and Old Dominion Freight Line (ODFL) and Saia Inc (SAIA) are down more than -2%. Also, FedEx Freight Holding (FDXF), Knight-Swift Transportation Holdings (KNX), JB Hunt Transport Services (JBHT), Marten Transport Ltd (MRTN), CH Robinson Worldwide (CHRW), and XPO Inc (XPO) are down more than -1%.
Airline stocks are sliding today with the surge in crude oil prices. Alaska Air Group (ALK) and Southwest Airlines (LUV) are down more than -2%, and American Airlines Group (AAL), United Airlines Holdings (UAL), and Delta Air Lines (DAL) are down more than -1%.
Energy producers and service providers are climbing today, with crude oil prices up by more than +6%. ConocoPhillips (COP), Diamondback Energy (FANG), and Valero Energy (VLO) are up more than +3%, and APA Corp (APA), Chevron (CVX), Devon Energy (DVN), ExxonMobil Holdings (XOM), Marathon Petroleum (MPC), Occidental Petroleum (OXY), and Phillips 66 (PSX) are up more than +2%. Also, SLB Ltd (SLB), Baker Hughes (BKR), and Haliburton (HAL) are up more than +1%.
Lennox International (LII) is down more than -13% 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) is down more than -8% after reporting Q2 net sales of $3.27 billion, below the consensus of $3.39 billion.
CoStar Group (CSGP) is down more than -8% after reporting Q2 revenue of $925 million, weaker than the consensus of $929.4 million.
Skyworks Solutions (SWKS) is down more than -7% after forecasting Q4 adjusted EPS of $1.27, below the consensus of $1.29.
Avis Budget Group (CAR) is down more than -6% after reporting Q2 EPS of 98 cents, well below the consensus of $1.91.
Caterpillar (CAT) is down more than -2% 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.
Teradyne (TER) is up more than +13% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 net revenue of $1.33 billion, stronger than the consensus of $1.22 billion.
GE Healthcare (GEHC) is up more than +10% after reporting Q2 adjusted EPS of $1.13, better than the consensus of $1.04.
Garmin Ltd (GRMN) is up more than +7% 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.
Bloom Energy (BE) is up more than +7% after reporting Q2 revenue of $1.07 billion, stronger than the consensus of $838.7 million, and raising its full-year revenue forecast to $3.9 billion to $4.2 billion from a previous forecast of $3.4 billion to $3.8 billion, above the consensus of $3.74 billion.
Generac Holdings (GNRC) is up more than +5% after raising its full-year adjusted Ebitda margin to 20% to 21% from a previous estimate of 18.5% to 19.5%, better than the consensus of 19.2%.
Ford Motor (F) is up more than +4% 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 (7/29/2026)
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by Renewed US-Iran Hostilities

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.
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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.
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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

Nvidia's Quiet Bet on AI Sandboxes Could Decide Who Wins the AI Agent Era

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.
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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.
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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

Key Points
Arm has already soared this year, riding broader tailwinds in the AI market.
Investors cheered the launch of its AGI CPU chip, the first time it's made its own silicon.
The stock looks expensive according to traditional metrics, but there's good reason for that.
Arm Holdings (Nasdaq: ARM) has been one of several breakout chip stocks this year.
The company, best known for licensing its CPU designs, is up 142% this year, including a substantial pullback from its June peak. At one point, the stock was up more than 300%.
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Arm has benefited from the bullish sentiment in the chip sector from the AI boom, as well as signs that CPU demand is soaring as AI needs shift from training to inference. The company also announced that it would make its own silicon for the first time, designing the Arm AGI CPU, which is expected to start contributing to revenue in its fiscal fourth quarter, which ends in March 2027.
The company has said it expects the new CPU chip to drive $15 billion in revenue by fiscal 2030, and it expects total revenue of $25 billion then, a significant acceleration from the $1.05 billion it generated in fiscal 2026.
Arm is set to report first-quarter earnings on July 29. Will the stock jump on the news? Let’s take a closer look at what to expect.
Image source: The Motley Fool.
The good news for Arm
The arms race for AI computing power has continued over the last three months, and the early signs are that capital expenditures for AI infrastructure, such as chips, are continuing to rise. Alphabet is the only one of the four major hyperscalers to have reported earnings this quarter, and the company raised its capex forecast for this year from $180 billion-$190 billion to $195 billion-$205 billion, reflecting accelerating growth in its cloud computing division.
Capex increases from other cloud companies seem likely as well, and that favors Arm, whose designs are found in data center chips like Google Axion, Microsoft Cobalt, and Amazon Graviton, the three leading cloud computing companies.
Arm earns revenue in two ways: licensing and royalties. Royalty revenue is mostly predictable, so the variability in the company’s results tends to come from licensing. The continued growth in AI spending bodes well for new license sales.
Finally, investors will be keen for updates on the AGI CPU. Arm has already said that it sold out its initial capacity for the chip, hitting $2 billion in commitments just weeks after the launch, double its initial forecast. Any updates on that are likely to move the stock. A production delay, for example, would send shares falling, while a more optimistic outlook would please investors.
One thing to remember
Even after falling by more than a third from its June peak, Arm is still an expensive stock, trading at a price-to-sales ratio of 56. That reflects its unique high-margin licensing model and the expected windfall from the AGI CPU. The valuation could put downward pressure on the stock, especially as shares have already soared this year, largely based on forward expectations around AI sentiment and the AGI CPU.
Arm stock also tends to be erratic following earnings. In the past, the stock has fallen after hours, seemingly based on guidance or a cautious comment from management, only to rally during the regular trading session.
In other words, investors should expect volatility following the earnings release. Based on the tailwinds in AI and Arm’s competitive advantage in power-efficient CPU technology, the components are there for a post-earnings pop. If it doesn’t happen on Wednesday, Arm still looks like a smart bet for the long term as it moves into silicon with the AGI CPU.
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Jeremy Bowman has positions in Amazon and Arm Holdings. The Motley Fool has positions in and recommends Alphabet, Amazon, Arm Holdings, and Microsoft. 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.

Arm Holdings plc

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