3M Company3M raised its full-year profit forecast, a positive earnings/capital event.
US stocks closed higher on Tuesday, with the Dow rebounding 385.38 points to 52,224.64. The S&P 500 gained 0.89% and the Nasdaq jumped 1.29%, led by a strong recovery in semiconductor stocks. The Philadelphia SE Semiconductor Index, or SOX, surged 5.2% for a second straight day, after falling more than 20% from its record high in late June. Despite the recent heavy sell-off, the chip index is still up nearly 75% since the start of the year. Investors are watching earnings from major technology companies this week, especially Alphabet, Intel, and Texas Instruments, to gauge the outlook for the AI business. 3M shares jumped 7.3% after raising its full-year profit forecast, while Hasbro surged 8.8% on demand for digital games and Magic: The Gathering. Danaher fell 11% after cutting its revenue outlook, and MSCI dropped 10% after increasing its operating expense forecast.
3M Company3M raised its full-year profit forecast, a positive earnings/capital event.
Alphabet Inc Class C
Intel Corporation
Texas Instruments Incorporated
Danaher CorporationDanaher cut its revenue outlook, indicating weaker end-customer demand.
Hasbro IncHasbro surged on demand for digital games and Magic: The Gathering.
MSCI IncMSCI dropped 10% after increasing its operating expense forecast.