Friday, July 31st, 2026
Following yesterday’s Personal Consumption Expenditures (PCE) and Wednesday’s Fed meeting an press conference with Fed Chair Kevin Warsh, we quiet down ahead of the final trading session for the week. Despite some mid-week turbulence, we’re trading fairly even with where we were as of mid-day Monday. The Dow is +179 points at this hour, the S&P 500 +12 and the Nasdaq +241 points.
Q2 Employment Costs are out this morning, but unlikely to move the needle in terms of trading sentiment. The headline +0.9% matches the previous quarter and +10 basis points (bps) from expectations. Wages and salaries for civilian workers came in at +3.2%, benefits +3.8%. For state and local government workers, this adjusts to +3.6%.
AbbVie ABBV shares are trading down at this hour, following a beat by a penny on the bottom line to $3.65 per share on revenues of $16.99 billion, +1.07%. The Big Pharma staple has not missed on earnings since 2018. But full-year earnings guidance was pulled lower than current projections, and shares are down -4% presently. For more on ABBV’s earnings, click here.
A pair of International Integrated Oil & Gas “supermajors” also reported earnings this morning. ExxonMobil XOM posted a negative earnings surprise of -4.35% on lower quarterly oil production, for its second miss in the past four quarter. Chevron CVX beat estimates by +4.48%. Both companies blasted past revenues estimates by +21%, though only Chevron is trading higher.
Colgate-Palmolive CL outpaced earnings estimates, $0.99 per share versus $0.95, even though higher tariff costs dampened the household products major’s outlook. Revenues were fairly in-line with estimates at $5.36 billion, above the $5.11 billion reported a year ago. Shares are down -1.8% at this hour. For more on CL’s earnings, click here.
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This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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Originally published on zacks.com, part of the BLOX Digital Content Exchange.
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