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Market indexes petered out toward the end of today’s regular trading session and off intra-day highs, but all finished solidly in the green following a challenging pre-market scenario. The Dow gained +225 points today, +0.48%, while the S&P 500 was up +24 points, +0.37%. The Nasdaq grew another +151 points, +0.65%, and the small-cap Russell 2000 was +37, +1.54%, to win the day.

The Supreme Court today seemed to actively question the authority of President Trump in his sweeping tariff initiatives. That whiff of hope to stock market traders took sentiment from skeptical to hopeful, even as no decision by the high court has yet been reached. A ban on tariff policy would likely provide a major market catalyst to the upside.

Elsewhere, both monthly Services sector prints for October came in higher than the 50-level that illustrates growth versus loss. The S&P Services PMI underperformed expectations slightly, from 55.2% the prior month to 54.8% in this latest report, but still in a healthy range. ISM Services, which had been struggling, outperformed expectations: 52.4% versus 50.5% expected and 50.0% reported the previous month.

Big Earnings Afternoon: QCOM, DASH, SNAP & More
 

We’ve accelerated to the head-spinning level of quarterly earnings reports hitting the tape. Rather than try to get our arms around all of them, here are a few key highlights (and lowlights):

Qualcomm (QCOM - Free Report) posted a beat-and-raise fiscal Q4 this afternoon, with earnings of $3.00 per share outpacing the $2.87 in the Zacks consensus on $11.27 in revenues, which easily surpassed the $10.79 billion expected, and +10% year over year. The chip major also raised next-quarter guidance on both earnings and sales. But it became a “sell the news” moment: last week QCOM stock had already gained +11% on its unveiling of new AI chips for 2026 and 2027.

AppLovin (APP - Free Report) shares regained their winning ways after the closing bell today, when the company reported Q3 earnings of $2.45 per share, 8 cents above expectations, on $1.41 billion in revenues which bettered the $1.35 billion anticipated. The company also announced the repurchase of APP shares amounting to $3.2 billion. After trading down -9% over the past month, share are up +4.8% in late trading.

DoorDash (DASH - Free Report) posted mixed results for its Q3 report this afternoon, missing on the bottom line with earnings of 55 cents per share compared with 68 cents in the Zacks consensus, marking the second earnings miss for DASH in the past four quarters. Revenues of $3.45 billion improved over the projected $3.37 billion, but shares are falling -19% at this hour after gaining more than +40% year to date.

e.l.f. Beauty (ELF - Free Report) is having an even tougher time after the bell today, missing on quarterly revenues quite badly and lowering guidance for the full fiscal year. Earnings of 68 cents per share were ahead of the 57 cents analysts were expecting, but $343.9 million in sales was a far cry from the $366.5 million anticipated. Shares had been as low as -28% in late trading.

Snap (SNAP - Free Report), on the other hand, is flying high on its Q3 report after the close, notching a modest beat on revenues of $1.50 billion and meeting the Zacks consensus on earnings, +$0.06 per share. Daily Active Users rose +8% year over year to 477 million, and the company’s recently announced deal with private web search software company Perplexity is seeing shares up +25% at this hour.

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