The three major indexes on Wall Street opened mixed as investors digested news of a cease-fire between Lebanon and Israel and Broadcom's earnings release.
As of 10:21 a.m. on the 4th (local time), the Dow Jones Industrial Average on the New York Stock Exchange was up 727.76 points, or 1.44%, at 51,414.83. The Standard & Poor's (S&P) 500 was down 6.97 points, or 0.09%, at 7,546.71, and the Nasdaq composite was down 215.65 points, or 0.80%, at 26,638.32.
The agreement by Lebanon and Israel to implement a cease-fire lifted stocks. In April, the United States and Iran agreed to a cease-fire, but Lebanon and Israel had continued armed clashes. The U.S. State Department said in a joint statement released right after talks held in Washington, D.C., under U.S. mediation that the two countries agreed on steps to implement a cease-fire.
Broadcom's earnings release weighed on technology shares broadly. Broadcom released second-quarter results that missed market expectations due to weakness in the software institutional sector, and it did not raise its annual sales target for artificial intelligence (AI) chips, keeping it at $100 billion. Broadcom shares fell 14.99%. Qualcomm and AMD fell 4.41% and 6.11%, respectively, while Micron and Marvell Technology fell 7.78% and 4.38%, respectively.
By sector, technology and energy were weak, while other groups were strong. UnitedHealth rose 5.37% after Bank of America upgraded its investment rating to buy from neutral. Bank of America said improving medical cost trends and positive short-term data are favorable for second-quarter earnings.
Medtronic rose 5.79% after BTIG upgraded its investment rating to buy from neutral following the earnings release. BTIG said its revenue growth outlook is attractive and its valuation is lower than competitors.
CrowdStrike fell 9.25%. CrowdStrike's second-quarter revenue guidance of $1.44 billion did not significantly top the market consensus of about $1.3 billion. Its earnings per share (EPS) forecast of $1.16 to $1.17 was similar to the market estimate of about $1.16.
European stocks rose. The Euro Stoxx 50 was up 0.57% at 6,088.01. France's CAC 40 and Germany's DAX rose 1.00% and 0.65%, respectively. Britain's FTSE 100 rose 0.08%.
International oil prices fell. At the same time, front-month West Texas Intermediate (WTI) for July 2026 delivery was down 3.74% at $92.43 a barrel.