Stock Market Update

[BRIEFING.COM] The major averages are holding on to their early gains of an earnings-heavy week.

While earnings reports have been generally positive so far, Domino's Pizza (DPZ 463.00, -2.95, -0.6%) is lower after reporting Q2 results. The pizza chain giant missed on EPS, but it also disclosed an unfavorable change of $27.4 million in losses and gains associated with its investment in DPC Dash. As such, it appears to not be comparable to analyst expectations. Revenue rose 4.3% yr/yr to $1.15 billion, which was in-line. In the US, both delivery and carryout were positive, and DPZ drove meaningful market share gains internationally.

Restaurants seem to be a slight point of weakness in today's otherwise strong market, as Darden Restaurants (DRI 207.46, -2.08, -1.0%), Chipotle Mexican Grill (CMG 53.25, -0.68, -1.3%), and McDonald's (MCD 296.46, -0.61, -0.2%) all face some early pressure.