Nasdaq Surges 2.6% On Positive Economic Data

Tech stocks led the advance on Wall Street after the service sector expanded at the fastest pace in three months according to a private survey. Positive data on manufactured goods also supported the market advance.

European Markets Advance, Retail Sales Fall, Wholesale Inflation Rises

European markets closed higher and retail sales declined and producer prices rose in the currency zone.

Robinhood's Assets Under Custody, Active Users, and Revenues Fell

Robinhood said active users, assets under custody, and revenues declined after financial markets faced the worst first-half in decades and cryptocurrencies plunged.

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PayPal Swings to Quarterly Loss

PayPal said quarterly revenues rose and free cash flow increased and guided higher transaction volume on its platform. The payment processing company is in discussion with an activist investor.

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Expeditors International Sees No End of Supply Disruptions Soon

Expeditors International posted quarterly revenues and earnings growth but also highlighted supply chain disruptions are likely to persist for a while.

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AMD Net Income Plunges 37% Despite Record Quarterly Revenues

AMD reported eighth record quarterly revenues in a row but earnings fell after margins declined and expenses rose. The chipmaker anticipates the revenue growth to continue in the remainder of the year.

AMD

Movers: AMD, Airbnb, Expeditors International, Match Group, PayPal, Robinhood Markets, Starbucks

AMD posted strong quarterly revenue growth but earnings dropped. Airbnb swung to a quarterly profit and record booking volumes. PayPal swung to a quarterly loss. Robinhood Markets expands layoffs. Starbucks says customers are not trading down.

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Stocks Advance with Earnings In Focus

Benchmark indexes extended gains for the second day as investors focused on the fresh of corporate results and looked beyond the war words between the U.S, and China amid the rising military tensions.

SBUX

Uber Mobility and Delivery Segments Revenues Surge

Uber Technologies said second quarter revenues surged as mobility demand picked up around the world. The ride-hailing company took a large charge linked to its investment in Indonesia, India, and in self-driving technology company.

UBER

ZoomInfo Lifts Annual Revenue Guidance

ZoomInfo reported second quarter sales rose 54% and the business information provider revised higher its full-year revenues and adjusted earnings outlook.

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Simon Property Reported Flat Revenue Growth and Hiked Dividend

Simon Property Group said second quarter revenue growth was flat and net income fell less than feared as the mall occupancy levels rose across the nation.

Avis Budget Net Income Soars On Travel Rebound

Avis Budget reported a sharp jump in its latest quarterly earnings and revenues as the rental car company expanded its fleet of available vehicles.

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Global Markets On Edge After U.S. China Tensions Rise

Global financial markets trended lower and bond yields rose after political tensions rose between the U.S. and China and the broadening of supply chain disruptions for advanced technology products.

U.S. Stocks Waver and Job Openings Dip to 9-month Low

The S&P 500 and the Nasdaq indexes rebounded from morning losses after investors reviews the latest batch of earnings. The advertised job opening for workers fell to the lowest in June, a nine-month low.

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Stocks Turn Lower In Choppy Session

Benchmark indexes struggled and the yield on the 10-year U.S. treasury notes dropped to a four-month low. European markets closed mixed after manufacturing activities shrank to a 25-month low.