US Stocks Rise Amid Earnings Reports, Domino's Falls After Q2 Results

US stocks traded higher on Monday, with the Nasdaq Composite gaining over 100 points. Domino's Pizza shares fell after Q2 results, missing EPS consensus. Communication services shares rose 1.4%, while energy stocks dipped 0.4%. Prominent movers included ProMIS Neurosciences, ZimVie, and OceanPal, which surged 151%, 122%, and 56% respectively. European shares were lower, with the STOXX 600 slipping 0.27%, while Asian markets closed higher. No major economic reports were scheduled for release.

US stocks closed mixed on Monday, with the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) notching fresh records. The tech-heavy Nasdaq gained about 0.4%, reaching its sixth consecutive record close, while the S&P 500 rose just over 0.1% to close above 6,300 for the first time ever. The Dow Jones Industrial Average (^DJI) flipped from gains to close just below the flatline [1].

The market's focus this week is dominated by two key topics: clarity on US trade policy and earnings from tech heavyweights. Alphabet (GOOG) and Tesla (TSLA) are set to release updates on Wednesday, marking the start of the "Magnificent Seven" earnings reports for the second quarter [1].

Meanwhile, the EU is stepping up the scope of its retaliation if it fails to strike a trade pact with the US. Trump's increasingly hardline stance and EU member opposition to concessions are denting hopes for an agreement. Commerce Secretary Howard Lutnick reaffirmed the White House’s August deadline for new tariffs, calling it a "hard stop" [1].

Domino's Pizza (DPZ) reported mixed results, with shares falling after missing EPS consensus. The pizza chain saw a 3.4% year-over-year increase in U.S. same-store sales growth, pushing shares higher, despite missing analyst expectations. International same-store sales also grew by 2.4% (excluding forex) compared to Q2FY24 [3].

Prominent movers included ProMIS Neurosciences, ZimVie, and OceanPal, which surged 151%, 122%, and 56% respectively. These gains were driven by positive news releases and developments in their respective sectors [4].

European shares were lower, with the STOXX 600 slipping 0.27%, while Asian markets closed higher. No major economic reports were scheduled for release.

References:
[1] https://finance.yahoo.com/news/live/stock-market-today-sp-500-crosses-6300-nasdaq-notches-record-with-big-tech-set-to-take-earnings-spotlight-200119190.html
[2] https://www.ainvest.com/news/nasdaq-composite-index-rises-0-26-china-trade-progress-2507/
[3] https://www.tipranks.com/news/dpz-earnings-dominos-pizza-surges-despite-q2-earnings-miss
[4] https://www.chartmill.com/news/CLRO/Chartmill-31279-Which-stocks-are-experiencing-notable-movement-on-Monday