U.S. stocks are rising as another week of megacap earnings kicks off By Investing.com



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Investing.com — U.S. stocks were rising ahead of a deluge of megacap earnings and the jobs report for July due out on Friday.

At 09:43 ET (13:43 GMT), the was up 42 points or 0.1%, while the was up 0.2% and the was up 0.3%.

More Big Tech earnings on tap

Stocks ended last week on a high note, amid signs of cooling and economic resilience that have officials looking at the possibility of a soft landing, which means no recession.

This week features earnings by Apple Inc. (NASDAQ:) and Amazon.com, Inc. (NASDAQ:) for the big tech sector. Their reports come after upbeat earnings from (NASDAQ:) and  (NASDAQ:) last week.

Stocks have been rising on hopes that the is near the end of its interest rate hikes, after raising them by another quarter of a point in July. This month the Dow went on the longest winning streak since 1987, pushed higher by financials, energy, and healthcare stocks.

Is a soft landing in the cards?

Minneapolis Fed President Neel Kashkari said on Sunday the economy is making surprisingly good progress. , which is near historic lows at 3.6%, could rise to 4% and it could still be soft landing, he said.

Later today, Chicago Fed President Austan Goolsbee is scheduled to speak.

SoFi Technologies soars after beating expectations

Shares of ON Semiconductor Corporation (NASDAQ:) were rising 4.7% as it prepared to report earnings later today. SoFi Technologies Inc. (NASDAQ:) stock jumped 19% after better-than-expected quarterly and raised guidance for 2023.

Chevron Corp. (NYSE:) shares rose 2.6% after Goldman upgraded it to buy from neutral, saying the oil major is poised to rise.

Oil was rising. was up 1.1% to $81.46 a barrel, while was up 0.9% to $85.19 a barrel. was up 0.3% to $2,006.


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