Stock indexes are up today, with gains in tech stocks driving the market higher. Palantir Technologies reported strong profits, boosting shares by 8%. Speculation of a Fed rate cut is high after weak job and manufacturing reports. US trade deficit shrank in June, a positive for Q2 GDP.

Dovish comments from Fed President Mary Daly hint at impending rate cuts. President Trump threatens higher tariffs on India and Canada. Earnings reports will drive market focus this week. Q2 productivity and labor cost data expected. Fed rate cut chances high for September and October FOMC meetings.

Q2 earnings reports exceed expectations, with S&P 500 earnings set to rise by 9.1%. Overseas markets are up, with the Euro Stoxx 50, Shanghai Composite, and Nikkei Stock 225 all showing gains. Interest rates are down today, impacting T-notes, while European bond yields are rising.

Stock movers include Axon Enterprise, Palantir Technologies, Cummins, ADM, DuPont de Nemours, Pfizer, Zoetis, Inspire Medical Systems, Gartner, Vertex Pharmaceuticals, GlobalFoundries, TransDigm Group, Eaton Corp, and MercadoLibre. Earnings reports for various companies are due today.

Read more at Yahoo Finance: Stocks See Support from Strong Earnings and Rate Cut Speculation