Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (+0.7%) leads the S&P 500 (+0.6%) and the DJIA (+0.5%) in what has been a strong session so far. 

Earnings reports will be a key theme of this week's action, with Verizon (VZ 42.65, +1.81, +4.4%) emerging as an early winner today after reporting its Q2 results this morning.

The company beat EPS expectations by $1.22, which is a typical result for the company. What stands out is its revenue growth, which rose 5.2% yr/yr to $34.5 billion. This was nicely above expectations and its strongest growth in the last 15 quarters.

T-Mobile US (TMUS 232.45, +5.24, +2.3%) and AT&T (T 27.48, +0.54, +2.0%) trade higher in response, with the latter set to report its earnings before the open on Wednesday. 

Elsewhere in the communication services sector (+1.6%), Alphabet (GOOG 190.00, +4.06, +2.2%) trades higher ahead of its earnings on Wednesday.