The Resilient Rise of the Stock Market and Fierce Competition in Sports Betting Stocks

The stock market indexes experienced some improvement during late afternoon trading, with the major indexes moving back towards the day's highs. Sports betting stocks took center stage on Wednesday, with clear winners and losers emerging. The Nasdaq composite trimmed its earlier losses and was down 0.5%, while the Dow remained relatively flat and the S&P 500 dipped 0.1%. The Nasdaq 100-tracking Invesco QQQ Trust ETF retreated 0.4%, while the Innovator IBD 50 ETF underperformed, falling 1.2%. Stock market movers included fitness beverage company Celsius Holdings, which saw its stock surge more than 20% after beating Q2 earnings and sales expectations, and sports betting company Penn Entertainment, which reported higher-than-expected Q2 profit and sales. Meanwhile, Axon Enterprise experienced a 15% spike following its Q2 earnings and sales beats. In the solar sector, Array Technologies saw its stock soar over 25% after surpassing analysts'