US Stock Market: CME shares jump 6% after Q2 profit beats estimates; strong hedging demand boosts results

CME Group posted Q2 adjusted earnings of $2.99 per share, beating analyst estimates of $2.91 per share, though overall average daily trading volume slipped 1 percent year-on-year. Equity index products were a bright spot with ADV up 13 percent, supported by an almost 15 percent gain in the S&P 500, while market data and information services revenue climbed 20.2 percent. Shares rallied 6.1 percent post-earnings, trimming year-to-date losses, even as concerns over perpetual futures competition and an upcoming CEO transition kept investor sentiment cautious.