With CPI and PPI for June in the rear-view mirror, traders can focus on earnings for the rest of the week. The general consensus is positive. Many companies are reporting earnings beats, spurring the market higher.
A number of big names reported second quarter earnings Thursday morning:
Taiwan Semiconductor (TSM) - record profit, $100 billion Arizona investment, shares down 4% pre-market
US Bancorp (USB) - Top and bottom beat, stock down one percent
State Street (STT) - In-line report, stock down two percent
United Health (UNH) - Big beat, revises guidance higher, shares up six percent
Abbot Labs (ABT) - Strong quarter, raises forecast, shares up 4% pre-market
GE Aerospace (GE) - Beats expectations, raises guidance, the stock falls 3%
June retail sales were up a modest 0.2%, the smallest monthly increase in five months. Falling prices for gas at the pump depressed the overall picture. Motor vehicles and parts dealers grew sales by 1.9%, e-commerce) rose 1.9%, and sporting goods and hobby stores added 1.3%. May’s figure was revised upward, from a 0.9% gain to a full 1.0%, which matters for context.
Other than earnings, escalation in the Middle East, and an OK sales report, there isn't much to move stocks, though there seems to be a "sell the news" attitude, with solid earnings reports being met with selling.
Precious metals continue to be abused. Silver fell below $56 this morning and gold dropped below $4000. It's apparent the LBMA has not relinquished control over paper markets, skewing prices to reflect their abhorrence of real money.
It never ends.
At the Close, Wednesday, July 15, 2026:
Dow: 52,658.64, +150.34 (+0.29%)
NASDAQ: 26,269.23, +162.23 (+0.62%)
S&P 500: 7,572.40, +28.81 (+0.38%)
NYSE Composite: 23,872.53, +25.93 (+0.11%)
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