From Nasdaq: 2024-07-30 18:13:00

Trading activity on July 30th revisited the “bifurcation trade” with the Dow up +0.60% and the Nasdaq down -1.31%. Economic prints showed growing home prices and high Consumer Confidence, but the FOMC is not expected to change interest rates. Microsoft beat earnings estimates, but Azure cloud numbers missed expectations.

Advanced Micro Devices shares rose on Q2 results, beating earnings estimates and providing strong guidance for next quarter. Starbucks shares went up slightly despite missing revenue estimates. Pinterest shares struggled in late trading despite beating earnings estimates, with lower revenue guidance for next quarter. Mondelez had mixed results, beating earnings but missing revenue estimates.

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Read more at Nasdaq: Market Bifurcation, Revisited; Plus Earnings for MSFT, SBUX, PINS & More