Jobless Claims Rise Again, D.R. Horton Posts Strong Quarter

Economic Indicators - Initial Jobless Claims rose to +243K, marking a near-term high since August of last year, with the previous week revised to +223K [1] - Continuing Claims reached +1.867 million, the highest since November 2021, indicating a significant increase from the previous week's 1.847 million [1] - Philly Fed manufacturing index improved to 13.9 in July, the highest since April, marking six consecutive months of positive growth [2] Company Earnings - Abbott Labs (ABT) reported earnings of $1.14 per share, beating expectations by 4 cents, with revenues of $10.38 billion surpassing the $10.35 billion forecast, driven by a +10.2% growth in its Medical Devices segment [3] - D.R. Horton (DHI) posted fiscal Q3 earnings of $4.10 per share and $9.97 billion in sales, exceeding expectations by +7.9% and +2.9% respectively, with shares up +3.8% following the report [3] Market Trends - Netflix (NFLX) is expected to report +42.9% earnings per share growth and +16.4% revenue increase for Q2, maintaining a strong performance with only two earnings misses since 2022 [4] - Market indices showed a rotation towards tech-related industries, with the Nasdaq up +159 points and the S&P 500 up +17 points, while the Dow experienced a decline of -102 points [4]