{"id":36031,"date":"2023-07-15T09:10:16","date_gmt":"2023-07-15T13:10:16","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/stock-market-today-dow-rides-tech-higher-ahead-of-earnings-from-major-banks\/"},"modified":"2023-07-15T09:10:18","modified_gmt":"2023-07-15T13:10:18","slug":"stock-market-today-dow-rides-tech-higher-ahead-of-earnings-from-major-banks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=36031","title":{"rendered":"Stock market today: Dow rides tech higher ahead of earnings from major banks"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">\u00a9 Reuters <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Investing.com &#8212; The Dow closed higher Thursday as a surge in Google underpinned a sea of green in tech just as investors digested better-than-expected quarterly results from <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Pepsico <\/span><\/span> and Delta, a day ahead of results from major Wall Street banks.<\/p>\n<p>The  rose 0.14%, or 47 points, and the  was up 1.6%, and the  rose 0.8%.<\/p>\n<h2>PepsiCo, Delta kick off earnings on solid footing<\/h2>\n<p>PepsiCo Inc (NASDAQ:) reported better-than-expected results and lifted its full outlook as price hikes helped offset higher input costs. Its shares rose more than 2%.<\/p>\n<p>Delta Air Lines (NYSE:) reported  that topped Wall Street estimates, though sentiment on the stock cooled somewhat after the airline said capacity constraints were expected to remain for an \u201cextended period.\u201d<\/p>\n<h2>Alphabet pushes tech higher amid AI fever<\/h2>\n<p>Alphabet (NASDAQ:) rose more than 4% after launching Bard AI, in Brazil and the European Union, as the tech giant looks to take the AI fight to rival ChatGPT.<\/p>\n<p>Google Search, which still makes up the bulk of Alphabet\u2019s revenue, will likely become &#8220;more personalized\u201d and develop \u201ccritical competitive moats\u201d as the tech giant invests further in AI, Morgan Stanley said in a note.<\/p>\n<p>Meta Platforms Inc (NASDAQ:), meanwhile, was also riding the AI wave as the social media giant is set to release a commercial version of its AI large learning model, which was made available to researchers and academics earlier this year.<\/p>\n<p>Sentiment on Meta was also boosted after TD Cowen upgraded the social media giant to outperform from perform on expectations that performance will likely be boosted by further cost cuts and monetization from Reels and Threads.<\/p>\n<h2>Inflation shows further signs of slowing, but job market remains hot<\/h2>\n<p>Just a day after investors cheered slowing consumer price pressures, producer prices in June also slowed more than expected, according to the data released Thursday.<\/p>\n<p>The  rose 0.1% in June, compared with expectations for a 0.2% rise, showing that \u201cearlier policy initiatives are already working to cool inflation towards the Fed\u2019s intended goal, particularly on the producer side,\u201d Stifel said in a note.<\/p>\n<p>, however, fell more than expected in the week ended July 7, signaling that the labor market remains too strong for the Fed to signal that it may stop raising rates after a widely expected hike next week.<\/p>\n<p>\u201cWe&#8217;re going to probably see the Fed move [focus] towards the tightness in that labor market as a bigger factor than where just top-line prices go at this point,\u201d Brian Mulberry, client portfolio manager at Zacks Investment Management told Investing.com&#8217;s Yasin Ebrahim in an interview on Wednesday.<\/p>\n<h2>Amazon drives in gains following record Prime Day<\/h2>\n<p>Amazon (NASDAQ:) rose more than 2% after reporting that U.S. online sales from its Prime Day promotional campaign jumped 6.1% to $12.7 billion.<\/p>\n<p>During the two-day sales bonanza, 375 million items were sold worldwide, making it the biggest Prime Day event ever, according to Amazon.<\/p>\n<h2>Major Wall Street banks set for earnings stage<\/h2>\n<p>JPMorgan Chase &amp; Co (NYSE:) is among a trio of Wall Street banks including <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Citigroup <\/span><\/span> Inc (NYSE:) and <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Wells Fargo <\/span><\/span> &amp; Company (NYSE:) set to deliver quarterly results before the U.S. markets open Friday.<\/p>\n<p>The results will serve as a further gauge of the stability in the banking sector following the turmoil earlier in the spring. Beyond the earnings data, deposit growth and any sign of weaker credit conditions will likely dominate attention.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/stock-market-today-dow-rides-tech-higher-ahead-of-earnings-from-major-banks-3125549\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters Investing.com &#8212; The Dow closed higher Thursday as a surge in Google underpinned a sea of green in tech just as investors digested better-than-expected quarterly results from Pepsico and Delta, a day ahead of results from major Wall Street banks. The rose 0.14%, or 47 points, and the was up 1.6%, and the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-36031","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock market today: Dow rides tech higher ahead of earnings from major banks | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com -- The Dow closed higher Thursday as a surge in Google underpinned a sea of green in tech just as investors digested\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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