Stock indexes are up today, with the S&P 500 and Nasdaq 100 hitting new highs. Lower bond yields are boosting stocks, with the 10-year T-note yield down to 4.37%. Chip stocks are driving tech stocks higher. Favorable corporate news is also lifting stocks, like Block’s +7% rise and Domino’s Pizza beating Q2 revenue expectations.

Recent trade news includes Trump’s intention to send tariff letters to over 150 countries, imposing tariffs on the EU, Mexico, and Canada, with plans for copper and drug import tariffs. Markets are watching tariff developments this week. Earnings season is in full swing, with many S&P 500 companies reporting Q2 results. Overseas markets are mixed, with China’s Shanghai Composite up, Euro Stoxx 50 down.

Federal funds futures show a 5% chance of a rate cut at the July FOMC meeting and 58% at the September meeting. Quarterly earnings reports are a focus, with Alphabet and Tesla reporting this week. Swaps indicate a 1% chance of an ECB rate cut. Chip stocks like GlobalFoundries, Intel, and ARM Holdings are up, with Block, Verizon, and Domino’s Pizza also showing gains.

Pinterest is up after an upgrade, while Dollar Tree is up after an upgrade as well. Equinix Inc. is up after activist investor involvement, and Invesco Ltd is up after an upgrade. Sarepta Therapeutics is down after refusing to halt Elevidys shipments. Stellantis NV reports a net loss, Centene is down after a downgrade, and Target is down following an analyst downgrade. Earnings reports for July 21 include AGNC Investment Corp, Verizon, and more.

Read more at Nasdaq: Stocks Climb on Lower Bond Yields and Favorable Corporate News