Stock market today: Live updates

Here are some of the stocks on the move midday:

• Charles Schwab – The financial services giant slid close to9% following its second quarter results. The firm reported adjusted earnings of 73 cents per share and revenue of $4.69 billion. These just barely beat estimates, as analysts polled by LSEG were expecting 72 cents earnings per share on $4.68 billion in revenue. The firm also reported a miss on net interest margin, per FactSet.
• Match Group –  The online dating stock added nearly% after activist investor Starboard Value put pressure on Match Group in a Monday letter to either improve its margins and profitability or go private. Starboard Value currently has a roughly 6.5% stake in Match Group.
• Bank of America – The bank popped 5% after reporting better-than-expected financial results. Earnings for the second quarter were 83 cents a share, topping the 80 cents expected from analysts polled by LSEG. Revenue came in at $25.54 billion, versus the $25.22 billion consensus estimate. Bank of America also gave new guidance on net interest income rising in the fourth quarter.

Read the full list here.

— Sean Conlon

Analyst Brad Sills highlighted the company’s “disciplined expense spending” and forecast improved revenue growth and free cash flow moving forward as the company captures further market share.

— Brian Evans

The Dow is trading at all-time highs in Tuesday’s session. Click here for CNBC’s live feed of the moves in real time.

— Alex Harring

During Tuesday’s trading session, 76 stocks in the S&P 500 — or more than one out of every seven tickers in the index — were trading at their new 52-week highs.

Names that hit this milestone included:

• Electronic Arts trading at levels not seen since September, 2021
• T-Mobile US trading at all-time highs back to the MetroPCS IPO in April, 2007
• Goldman Sachs trading at all-time high levels back to its IPO in May, 1999
• S&P Global trading at all-time high levels back through our history to 1972
• L3Harris Technologies trading at levels not seen since November, 2022
• Motorola Solutions trading at all-time highs back to its when it began trading as a separate entity post the Motorola Mobility split
• Duke Energy trading at levels not seen since September, 2022
• Fair Isaac trading at all-time highs back to when it was listed at the NYSE in 1986
• Royal Caribbean trading at all-time high levels back to its IPO in April, 1993
• Garmin trading at levels not seen since September, 2021

On the other hand, just four stocks were trading at their 52-week lows: Lululemon, Starbucks, Lamb Weston and Solventum.

— Lisa Kailai Han, Christopher Hayes

The small-cap Russell 2000 index jumped 2% Tuesday, headed for its fifth straight up day. Tuesday’s gains were led by AngioDynamics, PaySign, Big Lots and Pacific Biosciences of California, which all surged more than 10

Investors are rotating into previously unloved corners of the market as cooling inflation data last week fueled bets that the Federal Reserve could cut interest rates soon and skirt a recession.

Small caps are typically more sensitive to fluctuations in the economy and market sentiment and could see outsized benefit from falling rates.%.

— Yun Li

Big bank earnings reports are in the books — and it was a clean sweep this round. All six big banks beat on both earnings and revenues for the second quarter.

Still to come, though: all the regional banks. Wall Street will be closely watching loan growth commentary from the other major regional banks in the coming days.

PNC Financial kicked off the regional bank reports this morning. Earnings beat, but revenues were in line. Guidance was a little concerning though. The bank’s full year revenue growth outlook of a decline between 1% and 2% is worse than the Street’s consensus estimate of down 0.2%.

A key factor to that weakness is PNC’s projection for loan growth of down less than 1%, which is poorer than its previous forecast for positive 1% growth.

— Robert Hum

The Dow notched a fresh intraday high on Tuesday amid the blue-chip index’s outsized rally. At its best, the 30-stock average was up more than 500 points.

Small-cap stocks are the hottest trade going in the stock market right now.

The Russell 2000 index, the benchmark for the group, rose 1% Tuesday, after hitting its highest level since January 2022 on Monday. If the index rises another 1% Tuesday, it will be the fifth time since 1979 that it has had a five-day streak of gains north of 1%, according to Bespoke Investment Group.

Small caps took the baton from megacap technology shares last week to lead the bull market on hopes interest rate cuts will broaden out the economic recovery to their benefit.

Stocks kicked off Tuesday’s session up.

The Dow added about 0.5% shortly after 9:30 a.m. ET. The S&P 500 and Nasdaq Composite each gained around 0.3%.

— Alex Harring

Retail sales data released Tuesday morning came in strong than economists predicted.

Sales were little changed in June, while economists polled by Dow Jones penciled in a decline 0f 0.4%. Excluding autos, sales rose 0.4%, a larger gain than the 0.1% consensus forecast.

— Alex Harring

Check out some of the companies making headlines before the bell:

• Morgan Stanley — The bank stock fell more than 2% in premarket trading even after the firm’s second-quarter results beat Wall Street estimates thanks to strong performance in trading and investment banking. The bank said profit surged 41% from the year-earlier period, helped by a rebound in Wall Street activity. Revenue rose 12% to $15.02 billion.
• Bank of America — Shares added nearly 1% after the bank reported second-quarter financial results that topped expectations. Earnings came in at 83 cents a share, versus the 80 cents expected from analysts polled by LSEG. Revenue was $25.54 billion, beating the $25.22 billion consensus estimate.
• UnitedHealth — Shares were rose slightly after the release of better-than-expected results for the second quarter. The health insurance giant earned $6.80 per share, excluding certain items, on revenue of $98.86 billion. Analysts expected a profit of $6.66 per share on revenue of $98.84 billion.

The full list can be found here.

— Hakyung Kim

Morgan Stanley shares slipped despite exceeding Wall Street forecasts in its Tuesday earnings report.

The bank earned $1.82 per share on $15.02 billion in revenue. Analysts polled by LSEG penciled in just $1.65 per share and $14.3 billion.

— Alex Harring

Bank of America posted second-quarter earnings and revenue that beat analyst expectations, sending shares up nearly 1%. The bank earned 83 cents per share on revenue of $25.54 billion. Analysts expected a profit of 80 cents per share on revenue of $25.22 billion.

— Fred Imbert

European stocks opened lower Tuesday as investors assess the economic and political outlook in the region and beyond.

The pan-European Stoxx 600 was down 0.5% as all sectors and major bourses traded in the red. Mining stocks led losses, down 0.97%, while autos also sank 0.9%.

The U.K.’s FTSE index was 0.29% lower at 8,159, Germany’s DAX down 0.47% at 18,504, France’s CAC 40 0.6% lower at 7,586 and Italy’s FTSE MIB down 0.51% at 34,201.

These are the stocks moving the most in extended hours trading:

• Trump Media and Technology — The stock was down nearly 11%. It had previously soared more than 30% during Monday’s day trading session after Saturday’s attempted assassination of former President Trump, which has increased sentiment of a Trump win in November.
• FB Financial — Shares added nearly 2% after the regional bank posted a second-earnings beat. FB Financial reported adjusted earnings of 84 cents per share, while analysts polled by FactSet had expected 76 cents. The bank also beat consensus estimates on other metrics, such as net interest income and net interest margin.

— Lisa Kailai Han