The Investor
09 Jul 2026, 13:34
US Stocks Edge Higher as Tech Shares Lead Early Gains
U.S. stocks traded modestly higher in early trading on Thursday, with technology shares helping lift the broader market as investors reacted to a fresh wave of corporate earnings and analyst upgrades.
The S&P 500 gained 0.15%, while the Nasdaq advanced 0.20%, outperforming the major indexes thanks to strength in semiconductor and AI-related stocks. The Dow Jones Industrial Average also moved higher, rising 0.10%.
Semiconductor Stocks Extend AI Rally
Chip equipment makers led the market higher after several positive analyst actions.
Lam Research (NASDAQ: LRCX) surged in premarket trading after Mizuho raised its price target to $400 and reiterated its *Outperform* rating. Applied Materials (NASDAQ: AMAT) also received a higher price target from Mizuho, while Dell Technologies (NYSE: DELL) benefited from Evercore's reaffirmed *Outperform* rating and new $500 price target, adding to optimism surrounding continued AI infrastructure investment.
The gains reflect ongoing confidence that semiconductor capital spending will remain strong as demand for AI processors, advanced memory, and next-generation data center infrastructure continues to expand.
Earnings Drive Individual Stock Moves
Corporate earnings remained a key driver of early trading.
Simply Good Foods (NASDAQ: SMPL) soared after investors welcomed results that exceeded management's expectations despite lower year-over-year earnings, suggesting confidence in the company's turnaround strategy.
On the downside, PepsiCo (NASDAQ: PEP) declined after investors focused on softer underlying earnings growth and continued margin pressure despite higher revenue and reaffirmed full-year guidance. Northern Technologies International (NASDAQ: NTIC) also traded sharply lower after reporting a quarterly loss caused by margin compression from elevated raw material costs.
Investors Await More Earnings and Economic Data
Market participants remain focused on the upcoming earnings season as investors assess whether corporate profits can continue to support record equity valuations. At the same time, traders are monitoring economic data and Federal Reserve expectations for further clues on the outlook for interest rates.
The combination of resilient AI-related technology stocks and mixed earnings reactions across other sectors is helping keep the broader market in positive territory during Thursday's opening session.
U.S. stocks traded modestly higher in early trading on Thursday, with technology shares helping lift the broader market as investors reacted to a fresh wave of corporate earnings and analyst upgrades.
The S&P 500 gained 0.15%, while the Nasdaq advanced 0.20%, outperforming the major indexes thanks to strength in semiconductor and AI-related stocks. The Dow Jones Industrial Average also moved higher, rising 0.10%.
Semiconductor Stocks Extend AI Rally
Chip equipment makers led the market higher after several positive analyst actions.
Lam Research (NASDAQ: LRCX) surged in premarket trading after Mizuho raised its price target to $400 and reiterated its *Outperform* rating. Applied Materials (NASDAQ: AMAT) also received a higher price target from Mizuho, while Dell Technologies (NYSE: DELL) benefited from Evercore's reaffirmed *Outperform* rating and new $500 price target, adding to optimism surrounding continued AI infrastructure investment.
The gains reflect ongoing confidence that semiconductor capital spending will remain strong as demand for AI processors, advanced memory, and next-generation data center infrastructure continues to expand.
Earnings Drive Individual Stock Moves
Corporate earnings remained a key driver of early trading.
Simply Good Foods (NASDAQ: SMPL) soared after investors welcomed results that exceeded management's expectations despite lower year-over-year earnings, suggesting confidence in the company's turnaround strategy.
On the downside, PepsiCo (NASDAQ: PEP) declined after investors focused on softer underlying earnings growth and continued margin pressure despite higher revenue and reaffirmed full-year guidance. Northern Technologies International (NASDAQ: NTIC) also traded sharply lower after reporting a quarterly loss caused by margin compression from elevated raw material costs.
Investors Await More Earnings and Economic Data
Market participants remain focused on the upcoming earnings season as investors assess whether corporate profits can continue to support record equity valuations. At the same time, traders are monitoring economic data and Federal Reserve expectations for further clues on the outlook for interest rates.
The combination of resilient AI-related technology stocks and mixed earnings reactions across other sectors is helping keep the broader market in positive territory during Thursday's opening session.