Wall Street was solidly higher before the opening bell today as a broad range of companies posted strong earnings, according to the Associated Press. Futures for the S&P 500 advanced 0.8%, while futures for the Dow Jones Industrial Average climbed 0.6%, and Nasdaq futures rose 1.1%.
Decker Outdoors rose 12.3% after it breezed past Wall Street’s earnings expectations on the strength of its Ugg and Hoka brand footwear. The California company also raised its full-year profit guidance.
Norfolk Southern jumped 6.8% after its second-quarter results got a boost from insurance payments related to last year’s disastrous East Palestine derailment. The company also made progress in reducing its expenses and improving efficiency.
Newell Brands climbed 11.8% after the owner of Coleman camping supplies and Sharpie markers easily topped analysts’ profit targets. Its shares are still down about 18% this year.
Continued losses for Nvidia and most of the handful of Big Tech stocks that have been primarily responsible for the S&P 500’s run to records this year have recently weighed on the market. They tumbled a day earlier after profit reports from Tesla and Alphabet underwhelmed investors, raising concerns that the market’s frenzy around artificial-intelligence technology had sent prices too high.
U.S. benchmark crude oil shed 28 cents to trade at $78 per barrel on the New York Mercantile Exchange. Brent crude, the international standard, lost 36 cents to hit $81.03 per barrel.
The U.S. dollar rose to 154.54 Japanese yen from 153.93 yen.
