The major benchmarks were on the upside with the Nasdaq leading the way, up more than 2%, amid a surge in semiconductor stocks. Investors await the 2 pm press release from the Federal Reserve on interest rates.

The Vickers Top Insider Picks is a daily report that utilizes a proprietary algorithm to identify 25 companies with compelling insider purchase histories based on transactions over the past three months.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Insider Picks is a daily report that utilizes a proprietary algorithm to identify 25 companies with compelling insider purchase histories based on transactions over the past three months.

The Vickers Top Insider Picks is a daily report that utilizes a proprietary algorithm to identify 25 companies with compelling insider purchase histories based on transactions over the past three months.

The board is green. Stocks are making a strong comeback after a wild ride this week. The Mag7 are split, some up, some down. The big driver today is inflation data that is showing progress on prices continuing to track lower. The Personal Consumption Expenditures index came in at 2.5% in June, slightly below the 2.6% in May. Core PCE printed at 2.6% for June, unchanged from May. Next week is a biggie. The July Jobs report is due on Friday, four more of the Mag7 report - Apple, Amazon, Microsoft, and Meta, and oh, and there's a Fed rate meeting - though no rate move is widely expected.

Stocks closed mixed on Thursday. The Dow edged higher, while the S&P 500 and the Nasdaq fell following a better-than-expected GDP report. Ahead of the Friday's June reading of the PCE and the Michigan sentiment survey, stocks are volatile and likely to end the week with losses.

The Vickers Top Insider Picks is a daily report that utilizes a proprietary algorithm to identify 25 companies with compelling insider purchase histories based on transactions over the past three months.

According to the advance estimate released today by the Bureau of Economic Analysis, U.S. Gross Domestic Product expanded in the second quarter at an annualized rate of 2.8%. That's well above the 2.0% consensus and 1.4% growth in the first quarter. Strong growth with easing inflation keeps the prospect of a September rate cut on the table. Spending by consumers and businesses drove growth. Personal consumption expenditures were up 2.3%, helped by a rebound in durable goods. The huge services category grew 2.2%. Consumer spending on goods rose 2.5%, reversing a 2.3% decline in 1Q. Within goods, durables jumped 4.7% after a 4.5% decline in 1Q. Nondurables were up 1.4%. Mortgage rates stuck near 7% strained housing affordability in 2Q, sending prospective buyers to the sidelines and residential fixed investment (housing) down 1.4%. This reversed a 16% jump in 1Q. Spending on equipment rose 11.6%, while intellectual property was up 4.5%. The report also contains data on inflation, which, consistent with recent reports, showed signs of moderating. The PCE Price Index increased 2.6% in the second quarter, compared with an increase of 3.4% in the first quarter. Excluding food and energy, the index increased 2.9%, compared with an increase of 3.7% in the previous quarter. In our view, the report this morning indicates that consumers and businesses remain resilient even after Fed's 11 rate hikes. After the report, futures on the S&P 500 rose. The yield on the 10-year Treasury note rose slightly as inflation eased amid strong growth. Based on futures trading, there was little change in the expectation that the Fed will maintain its 5.25%-5.5% policy target when it meets next week. Futures continued to show traders expectation for a rate cut in September, but the strong report raised the odds of a 25-basis-point cut and lowered the chance of 50-basis-point cut.

The Vickers Top Insider Picks is a daily report that utilizes a proprietary algorithm to identify 25 companies with compelling insider purchase histories based on transactions over the past three months.

Stocks are down sharply today, including all of the Magnificent 7 stocks. The first two Big Tech companies, Tesla and Alphabet, missed on earnings and that is shaking confidence across the board. The Nasdaq is faring the worst, down 2.5% at midday. Other Big Tech earnings are scattered with some coming next week. Chipotle and IBM report after-the-bell today.