S&P 500 Edges Higher as Banks Rally; IBM Drags Tech Lower
Goldman Sachs, JPMorgan, and Citigroup beat on trading strength; IBM fell 23% on weak Q2 results.
Where the market closed
Index levels and yields at the US close. Source: market data via Yahoo Finance. New to index investing? See our complete S&P 500 guide.
What moved the market
Big Bank earnings drove the session, with Goldman Sachs, JPMorgan, and Citigroup all beating expectations on strength in trading and investment banking. IBM's 23% decline on a Q2 earnings miss pressured software and IT services stocks, creating a split tape across sectors.
The 30-second read
- •S&P 500 +0.44%, Nasdaq +1.07%; Dow -0.14% as banks rallied, tech mixed
- •Goldman Sachs, JPMorgan, Citigroup beat Q2 on trading, investment banking gains
- •IBM tumbled 23% on Q2 miss; Apple downgraded to sell on iPhone concerns
- •AMD rose 5%, Intel up 4% as chip stocks rebounded
- •VIX fell 3.8% to 16.50; Fear & Greed at 81 (Extreme Greed)
Today's top movers
What to watch next
- TomorrowTech sector reaction to IBM weakness
- This weekBank earnings momentum (BAC, WFC in focus)
- OngoingApple response to sell-rating downgrade
Reference & disclosures
Sources & headlines
- Goldman Sachs Q2 earnings beat driven by strength in trading and investment banking — Yahoo
- Apple Stock Downgraded To Sell. Here's Why. — Yahoo
- Mizuho downgrades Circle on competitive threat from new rival stablecoin — Yahoo
- Quantum X Labs Validates Continuous-Data Quantum Sampling Workflow and Achieves Significant GPU Acceleration with NVIDIA CUDA-Q — Yahoo
- This chipmaker "remains a core AI winner and a close #2 behind NVDA": MS — Yahoo
- CLSK Stock Leads Gains Among Crypto Equities – Lifting Data Center-Focused Bitcoin Miners — Yahoo
- Stock Market Today: Dow Rises Amid Surprise CPI Inflation Report; IBM Plunges 23% On Earnings (Live Coverage) — Yahoo
- JPMorgan Second-Quarter Results Top Views as Trading, Investment Banking Drive Growth — Yahoo
- Citigroup (NYSE:C) Reports Upbeat Q2 CY2026 — Yahoo
- Portugal seeks high-value data centres, not to become Europe's dumping ground — Yahoo
Disclaimer
This recap was generated by AI from validated news sources and market data. It is for informational and educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Always do your own research and consult a qualified financial advisor before making investment decisions.