Nasdaq Composite Live: Higher Highs with the Federal Reserve on Deck

Stock futures are inching higher, with the Nasdaq at another record high.

Fueled in part by Alphabet’s stronger-than-expected earnings report and further hopes for more trade deals, the Nasdaq could go on to test higher highs.

Regarding the trade deals, the recent U.S.-Japan trade agreement has tariffs now set at 15% instead of the previously threatened 25%. In return, Japan will invest $550 billion in the U.S. and open its domestic market to more U.S. exports, such as cars and farm products.

There’s even a potential U.S.-European Union deal on the table that could establish 15% tariffs on most EU imports. Plus, according to the European Union, it believes a trade agreement is “within reach” ahead of the August 1 deadline.

Next week, the Federal Reserve is scheduled to meet again, with some hoping the central bank will cut interest rates, while others expect it to keep interest rates at their current target range of between 4.25% and 4.5%.

Earnings also continued to be strong.

Last night, Intel’s second-quarter revenue of $12.86 billion topped the $11.92 billion analysts were expecting. Its third-quarter revenue guidance also beat expectations.

Deckers’ EPS of 93 cents on revenue of $965 million beat estimates calling for EPS of 68 cents on sales of $901 million in revenue.

Mining company, Newmont, posted adjusted earnings of $1.43 per share and revenue of $5.32 billion. Estimates called for $1.16 per share in earnings and $4.85 billion in revenue.

Boston Beer’s second-quarter earnings per share blew past the Street’s forecast. The company posted $5.45 per share, while analysts anticipated $3.83 a share. Revenue for the quarter came in at $587.9 million, which was just outside the estimate for $589 million.

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