ON Semiconductor surged 11.5% after strong profit reports, while McDonald's rose 3.7% despite missing forecasts, aided by better U.S. restaurant performance.
Oil-and-gas companies faced losses as oil prices fell, with ConocoPhillips and Exxon Mobil declining on worries about China's oil consumption.
Upcoming earnings reports from major companies like Microsoft, Meta Platforms, Apple, and Amazon are highly anticipated due to their significant market impact.
Bank of America strategists emphasized the need for Big Tech companies to demonstrate monetization, marking a shift from the AI-focused stock frenzy of the past.
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