Live Nasdaq Composite: Markets Pivot From Headlines to Q2 Earnings, Chip Stock Momentum

By Gerelyn Terzo Updated Jul 21, 11:20AM EDT · Published Jul 21, 9:46AM EDT

Quick Read

The Nasdaq jumped 1% as chip stocks surged and 87% of reporting S&P 500 companies beat Q2 profit estimates, while UBS lifted its 2026 target to 8,100.
TSM is testing 10% price hikes for 2027 while AMZN Business crossed $60 billion in annualized gross sales, signaling durable AI demand strength.
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Live Updates

Nvidia Chips on Time

1 hour ago

Live

Nvidia (Nasdaq; NVDA) gave the AI chip trade a direct confidence check, saying its next-gen Vera Rubin platform remains on schedule for data-center deployment. The company also drew a clear performance line against a rival, saying its new Vera processor is faster than AMD’s Turin, while adding that major customers are already testing Vera Rubin hardware.

UBS' Bullish Market Call

2 hours ago

Live

UBS gave the rally more runway, lifting its year-end 2026 S&P 500 target to 8,100. That would put the index roughly 8.8% above current levels, suggesting the firm still sees room for stocks to climb even after the market’s YTD advance of 9.29%. The call adds to the market’s tug-of-war: investors are questioning AI spending and valuation risk, but strategists are still finding enough earnings momentum, liquidity, and megacap strength to keep raising the bar.

This article will be updated throughout the day, so check back often for more daily updates.

Stocks found their footing as investors shifted attention from Middle East headlines back to earnings and the chip trade. The Nasdaq Composite was out front, tacking on 1%, helped by a sharp rebound in semiconductor stocks. The Dow Jones Industrial Average rose 212 points, or 0.4%, while the S&P 500 gained 0.6%.

The early earnings read gave bulls something to work with. Dow Stock 3M (NYSE: MMM) jumped more than 7% after topping Q2 expectations, while General Motors (NYSE: GM) beat on both revenue and earnings. So far, roughly 87% of the 54 S&P 500 companies that have reported have cleared profit estimates, according to FactSet.

Chip stocks added another tailwind. The VanEck Semiconductor ETF (Nasdaq: SMH) rose 4%, with Micron Technology (Nasdaq: MU), Marvell Technology (Nasdaq: MRVL), Astera Labs (Nasdaq: ALAB), and Intel (Nasdaq: INTC) helping pull the sector higher. The move sets the stage for a heavier earnings stretch later this week, with Alphabet (Nasdaq: GOOGL), IBM (NYSE: IBM), and Tesla (Nasdaq: TSLA) all on deck.

Here’s a look at where things stand as of pre-morning trading:

Dow Jones Industrial Average: 51,929 Up 0.17%
Nasdaq Composite: 25,723 Up 0.85%
S&P 500: 7,473 Up 0.41%

Market Movers

Taiwan Semiconductor (TSM) is reportedly testing its pricing power with customers, holding talks about increases of up to 10% in 2027, according to Nikkei. The move would add another margin lever to the AI chip story: demand is still strong, capacity remains precious, and TSMC may have room to charge more for the manufacturing muscle behind the boom.

Intel (Nasdaq: INTC) and Fortinet (FTNT) are teaming up on Fortinet’s next-generation Security Processor 6, tying Intel’s chip expertise to Fortinet’s push for faster, more specialized cybersecurity hardware.

Amazon (Nasdaq: AMZN) Business suddenly became a $60 billion run-rate machine, with annualized gross sales crossing that mark in Q2. The unit now serves more than 11 million entities, including Fortune 100 companies, across nearly a dozen countries after adding 1.8 million new organizations in H1 2026.

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About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.