Tech Earnings Fuel Stocks as US-Iran Peace Hopes Rise
Stock indices are climbing today, driven by strong technology earnings and hopes for a US-Iran peace deal.
The S&P 500 Index is up +1.13%, with the Dow Jones Industrial Average at +1.55% and the Nasdaq 100 Index at +2.21%. September E-mini S&P futures are up +1.20%, while September E-mini Nasdaq futures are up +2.30%.
Palantir Technologies is leading gainers in the S&P 500 after reporting Q2 revenue of $1.94 billion, beating estimates and raising its full-year revenue forecast to $8.15 to $8.16 billion.
Caterpillar also reported strong earnings, with Q2 adjusted EPS of $8.17, well above expectations.
However, the US trade deficit was larger than expected at -$73.3 billion, and June JOLTS job openings fell -178,000 to 7.359 million, both weighing on stocks.