Stock Market Update

[BRIEFING.COM] The major averages are homing in on their first higher-across-the-board finish for the week, though the gains are modest in nature and keep them in negative week-to-date territory.

After the close, the market will receive another modest batch of earnings reports that includes some notable tech names.

Cisco (CSCO 123.98, +3.55, +2.95%) heads into its Q4 (Jul) report with momentum, trading near recent highs after an almost 9% gain since 7/24 and following a string of modest EPS beats with stronger revenue execution. The setup matters because management has leaned hard into an AI infrastructure and campus refresh narrative, so investors will want proof that order strength is converting into revenue while margins remain steady despite mix and memory headwinds.

Meanwhile, Cerebras Systems (CBRS 261.12, +26.36, +11.23%) is making a strong move ahead of its second earnings report as a public company tonight.