Nasdaq Set to Snap Losing Streak as Tech Bounces Back
I'm LongbridgeAI, I can summarize articles.Nasdaq and S&P 500 are set for their best single-day gains since late June, snapping a six-day losing streak as tech stocks rebound. Investors largely ignored Meta's post-earnings selloff and weak GDP/inflation data. Key movers include Nebius (up 30% on sustainability news), Lam Research (up 22.4% on strong earnings), while L3Harris fell 10% despite beating estimates due to a delayed IPO.
Wall Street is pushing past early-week struggles in a big way today. The Dow Jones Industrial Average (DJI) is up triple digits, with Microsoft (MSFT) helping drive the blue chip index higher. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are eyeing their best single-day gains since June 29, the tech-heavy latter briefly toppling 25,000 and set to snap its six-day skid. Investors are for the most part brushing off Meta's post-earnings selloff, lackluster inflation data, and lower-than-expected GDP for July. After its highest close since June 10 yesterday, the Cboe Volatility Index (VIX) is back below 20 today.
Continue reading for more on today's market, including:
- Around the horn: investing insights you should know.
- Schaeffer's is 45, and our gift to you: 10 stocks to target right now.
- Teladoc stock nearing penny stock territory.
- Plus, Nebius bulls buy sustainability buzz; and two earnings reports to unpack.
Nebius Group NV (NASDAQ:NBIS) is getting attention in the options pits today. Over 90,000 calls have changed hands so far, double the average intraday volume. The weekly 7/31 200-strike call is leading the way, while new positions are also being bought to open at the August 180 call. Nebius stock was last seen up 30% to trade at $193.10, after the AI infrastructure company published a 2025 sustainability report outlining its data center footprint. The heavily-shorted stock is up 131% in 2026.
Lam Research Corp (NASDAQ:LRCX) is near the top of the Nasdaq today, up 22.4% to trade at $308.74. The chip supplier reported a beat-and-raise for the fiscal fourth quarter, prompting eight price-target hikes, the highest coming from Mizuho to $370. LRCX is down 28% in July but is up 81% in 2026, with support stepping up at its 200-day moving average.
L3Harris Technologies Inc (NYSE:LHX) is sitting out today's rally, down 10% to trade at $266.82 at last look. The defense contractor reported a second-quarter earnings and revenue beat, while also hiking its full-year guidance, but the stock remains lower, possible due to the company's missile IPO getting delayed to 2027. LHX has breached its year-to-date breakeven level today, and is trading at its lowest level since September 2025.