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Review & Preview: Floating on Sunshine
Barrons.com12d agoneutral
Review & Preview: Floating on Sunshine

REVIEW PREVIEW NEWSLETTER Good Vibes and Blue Skies. Summer heat and humidity may be setting in, but markets are showing no signs of wilting. The gains keep piling up in the first few days of the August as strong earnings, hopes of a sustained ceasefire in the Middle East and a renewed optimism in AI drove major indices higher on Tuesday.

Even Big Profits Aren’t Enough to Keep Chip Investors Happy
The Wall Street Journal12d agoneutral
Even Big Profits Aren’t Enough to Keep Chip Investors Happy

Korean memory-chip manufacturer SK Hynix late last month booked roughly $65 billion in profit for the quarter ended June 30, a 13-fold increase from last year. Hynix earned almost as much money in 90 days as it had in the prior 29 years since its IPO, total. The reports, though outstanding on basically every measure, still fell short of Wall Street’s sky-high expectations for chip companies.

Lucid Sales Top Estimates. The Stock Is Down.
Barrons.com12d agoneutral
Lucid Sales Top Estimates. The Stock Is Down.

Wall Street was looking for sales of $361 million and a gross loss of $311 million, according to FactSet. The company delivered 3,953 vehicles in the second quarter, up from 3,309 cars a year ago. Selling more new Gravity SUVs helped boost sales volume.

CVS’s Turnaround Faces Its Next Test
Barrons.com12d agoneutral
CVS’s Turnaround Faces Its Next Test

CVS Health reports earnings Wednesday, with analysts expecting another solid quarter and looking for potential guidance upside from its Aetna insurance and Caremark pharmacy-benefit businesses.

S&P 500 Rides Tech Stock Resurgence to Fresh High
Barrons.com12d agobullish
S&P 500 Rides Tech Stock Resurgence to Fresh High

Wall Street saw a record-setting session on Tuesday thanks to a reignited tech stock rally. The S&P 500 gained 1.8%, breaking out to a fresh closing high, its first record in over two months. Tech stocks led the rally, sending the Nasdaq up 2.6%.