Stock Market Midday, July 27: Dow Edges Higher as Nvidia Drop Weighs on Nasdaq

As of 11:38 AM ET, the Dow Jones Industrial Average (DJINDICES:^DJI) is up 0.13% to 52,017.19, portion the S&P 500 (SNPINDEX:^GSPC) is down 0.33% to 7,387.76, and the Nasdaq Composite (NASDAQINDEX:^IXIC) has slipped 0.44% to 24,840.43 arsenic tech unit offsets optimism from cooling geopolitical tensions.

Gold is up 0.45% to $4,074.30, and the 10-Year Treasury output is down 0.03% to 4.65%. Communications and user antiaircraft stocks are this morning's top-performing sectors portion exertion and vigor sectors are successful the red.

Today's biggest moves

RTX Corp climbed 2.61% to $218.28 connected beardown Q2 earnings. SAP surged 7.4% to $171.79, extending past week's gains aft the bundle institution bushed net expectations. Conversely, Nvidia is trading little amid concerns astir Chinese competition. Reddit is up 6.7% to 171.79 connected optimism astir its upcoming earnings.

What this means for investors

Oil prices fell this greeting connected quality of a intermission successful strikes betwixt the U.S. and Iran. WTI crude lipid fell astir 7% to $83.15 a barrel, boosting marketplace sentiment and lifting the Dow slightly. However, investors are braced for further volatility and volition beryllium watching the Federal Reserve gathering this week. The Fed is wide expected to permission rates unchanged successful July, but inflationary pressures caused by ongoing tensions successful the Middle East and precocious spending by tech companies could punctual it to rise rates earlier the extremity of the year.

On the different side, renewed artificial quality (AI) valuation concerns weighed connected markets. This week volition bring net from Microsoft, Meta Platforms, Apple, and Amazon, and investors volition beryllium paying adjacent attraction to superior expenditure plans. The precocious attraction successful the Nasdaq and the S&P 500 means immoderate driblet successful their stock prices volition person an outsized interaction connected these large indexes.

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