US stock indexes are mixed, with the S&P 500 up by +0.38%, the Dow Jones down by -0.22%, and the Nasdaq 100 up by +0.74%. Nvidia is up ahead of earnings, reflecting on tech stock valuations. Alphabet sees a +5% rise after unveiling an improved AI model, boosting tech stocks.

Energy producers fall as WTI crude oil drops by over 2%. US MBA mortgage applications decline -5.2%. The US Aug trade deficit narrows. The markets anticipate a -25 bp rate cut at the next FOMC meeting. Q3 earnings exceed expectations, with 82% of S&P companies surpassing forecasts.

European bond yields vary. UK Oct CPI eases. Swaps predict a 4% chance of an ECB rate cut. Semiconductor stocks drive market gains. Energy companies struggle with falling oil prices. Constellation Energy rallies on nuclear plant plans. Alphabet and La-Z-Boy soar, while Agios Pharmaceuticals and Eversource Energy face losses.

Read more at Nasdaq: Stocks Supported by Strength in Megacap Tech and Chip Stocks