Tech Rebound & Rate Hopes: Nasdaq Leads Market Bounce

Major Indices Rebounded :

S&P 500 (SPX): +1.47%

Dow Jones (DJI): +1.34%

Russell 2000 (RUT): +2.10%

U.S. stocks rebounded sharply, lifting major indexes off Friday’s steep losses. The rally was led by tech names—NVIDIA and Microsoft accounted for nearly 113 points of the Dow’s increase—while chip stocks broadly surged on hopes of Fed rate cuts and easing tariff tensions.

Investor sentiment was bolstered by positive earnings and optimism that weakening jobs data would accelerate the Fed’s rate‑cut timeline.

IDEXX Laboratories (IDXX): Soared ~27.5% after beating profit and revenue estimates and raising full-year guidance, driven by strong demand for its new diagnostic analyzer.

Wayfair (W): Jumped ~12.7% after posting an unexpected profit thanks to stronger-than-anticipated home goods demand.

Palantir Technologies (PLTR): Rose ~4.14% on upbeat sentiment ahead of its earnings announcement and reported profitable growth momentum.

ON Semiconductor (ON): Sank ~15.6% after signaling customer caution, especially in automotive markets, and despite modest top-line surprises.

8:30 am- U.S. trade deficit for June (median forecast $61.0B vs previous -$75.5B).

9:45 am- S&P final U.S. services PMI for July.

10:00 am- ISM Services for July (median forecast 51.1% vs previous 50.8%).

The index gained +1.34% to close at 44,173.64.

Support for the day: 44,053.59, with potential upside levels at 44,282.34 and 44,339.11.

The index closed at 23,188.61, with support for the day at 23,128.10 and potential upside levels at 23,275.15 and 23,305.21.

The index closed at 6,329.93, with support at 6,301.35 and potential upside levels at 6,360 and 6,378.36.

The price was trading at $631.73 pre-market, with support at $630 and potential upside levels at $631.97 and $632.93.

The price was trading at $565.22 pre-market, with support at $564.10 and potential upside levels at $565.87 and $567.10.

The price was trading at $220.21 pre-market, with support at $219.49 and potential upside levels at $220.98 and $221.60.

The price was trading at $291.54 pre-market, with support at $291.08 and potential upside levels at $291.84 and $292.93.

The price was trading at $25.43 pre-market, with support at $25.19 and potential upside levels at $25.69 and $25.84.

Caterpillar is set to report an 18% drop in Q2 EPS to $4.90 and a 2.6% revenue decline to $16.26B, though growth in its Engines & Transportation segment and a 19.6% YTD stock gain highlight underlying strength.

The stock was trading at $437.97 pre-market, with support at $436.29 and potential upside levels at $438.30 and $439.87.

AMD is expected to report Q2 revenue of $7.42B and EPS of $0.48, with analysts optimistic about strong server sales and enterprise adoption. Investors will focus on guidance, especially as AMD gains ground in AI chips and has rallied 46.4% YTD.

The stock was trading at $179.66 pre-market, with support at $179.05 and potential upside levels at $180.01 and $180.50.

Arista Networks reports Q2 results after the close today, with EPS seen at $0.65 on $2.1B revenue, up 25% YoY. Investor focus is on AI-driven cloud spending and whether Arista can diversify beyond Microsoft and Meta.

The stock was trading at $121 pre-market, with support at $119.88 and potential upside levels at $121.95 and $123.05.

Super Micro Computer (SMCI) reports Q4 earnings today, with analysts expecting EPS of $0.44 (down ~30% YoY) and revenue of $5.91B (up 11.3% YoY), as strong AI demand offsets margin concerns and lowered guidance.

The stock was trading at $59.17 pre-market, with support at $58.63 and potential upside levels at $59.54 and $59.86.