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Stock market today: S&P 500, Nasdaq hit records, Dow closes in as trade hopes lift stocks before Tesla, Google
US stocks climbed on Wednesday after the US struck a trade deal with Japan, lifting hopes for further tariff pacts as Wall Street got ready for Tesla (TSLA) and Alphabet (GOOGL, GOOG) earnings. The Dow Jones Industrial Average (^DJI) rose more than 1.1%, or roughly 450 points, and was just four points shy of its first record close of 2025. The S&P 500 (^GSPC) moved up almost 0.8%, and tech-heavy Nasdaq Composite (^IXIC) nudged up around 0.6%, with both once closing at at record levels. The US pact with Japan places a 15% tariff on imports from the country, President Trump said — a step down from the threatened 25% duties set to hit next week. For its part, Tokyo will make $550 billion in US investment. "It's a great deal for everybody," Trump said late Tuesday. Read more: The latest on Trump's tariffs The major-partner breakthrough lifted optimism that more trade deals will be sealed before Aug. 1, when Trump's sweeping tariffs kick in. While negotiations with the European Union, India, and other large partners have dragged of late, reports on Wednesday suggested a deal with the EU was taking shape, while Treasury Secretary Scott Bessent touted progress with China. Economists believe that if tariffs then average out at 15%, that would be manageable for the global economy, limiting damage. But the stock market rally faces a big test in Google-parent Alphabet and Tesla's earnings due after the bell, the first of the "Magnificent Seven" to report. Tesla CEO Elon Musk's rocky relationship with Trump is looming large over the EV maker's earnings. With its stock down nearly 18% year-to-date, investors are watching for updates on the company's core auto business and its robotaxi rollout. With Alphabet, investors are looking for signs that AI investments are starting to pay off as the company pours billions into the technology. A federal judge's decision that could force the company to sell Google Chrome will also be in focus. Read more: Full earnings coverage in our live blog Chipotle stock slides as same-store-sales fall more than expected Chipotle (CMG) stock slid more than 7% in after hours trading as the fast casual restaurant chain saw same-store-sales fell 4% in the second quarter. Wall Street had expected just shy of a 3% decline. The company reported adjusted earnings per share of $0.33 on revenue of $3.1 billion, roughly in line with the streets estimates. Google beats estimates on Q2 earnings results, but increased cap-ex spending sends shares lower Yahoo Finance's Dan Howley reports: Google parent Alphabet (GOOG, GOOGL) reported its second quarter earnings after the bell on Wednesday, beating expectations on the top and bottom lines on the strength of its advertising and cloud businesses. But the company said capital expenditures will climb to $85 billion. Google previously projected $75 billion. Shares of Alphabet fell more than 1%. For the quarter, Google saw adjusted earnings per share of $2.31 on revenue excluding traffic acquisition costs (TAC) of $81.2 billion. Analysts were anticipating Adj. EPS of $2.17 on revenue ex-TAC of $79.6 billion. The company posted revenue of $71.3 billion during the same period last year. Advertising revenue came in at $71.3 billion versus expectations of $69.6 billion. Search revenue topped out at $54.1 billion versus an anticipated $52.7 billion. YouTube ad revenue was $9.8 billion versus expctations of $9.5 billion. Google Cloud Platform revenue hit $13.6 billion. Analysts were looking for $13.1 billion. Read more here. What to watch in Alphabet earnings after the bell Yahoo Finance's Dan Howley reports: Google parent Alphabet (GOOG, GOOGL) will report its second quarter earnings after the bell on Wednesday as the company continues to ride the artificial intelligence wave. Alphabet is one of the largest and most advanced companies in the space, thanks to its vast network of data centers and Gemini AI models. According to CEO Sundar Pichai, the company's AI Overview is already drawing 1.5 billion users, and its AI services are seeing 2x longer queries than its traditional search product. According to BofA Global Research analyst Justin Post, potential positives for the quarter include increasing advertising spending, AI helping to power revenue, and strong cloud performance. "We remain constructive on Google's ability to drive AI usage despite cautious sentiment, and see Gemini improvements, AI Mode integration in search and Workspace price increases as key YTD positives," Post wrote in a note to investors. For the quarter, Google is expected to post adjusted earnings per share of $2.17 on revenue excluding traffic acquisition costs (TAC) of $79.6 billion, an 11.6% jump versus the same period last year, when the company posted revenue of $71.3 billion, according to analyst consensus data from Bloomberg. Read more here. Home sales declined in June as prices hit new all-time high Sales of existing homes dropped more than expected in June, the latest sign that record-high prices and elevated mortgage rates are extending the housing market's deep freeze, Yahoo Finance's Claire Boston reports. Boston writes: Read the full story here. The meme stock rally continues the Trump trade rebound that has stocks trading at record highs Meme stocks are running wild again. Some of the latest highfliers — Krispy Kreme (DNUT), Opendoor (OPEN), and Kohl's (KSS) — all have one key thing in common: They are heavily shorted stocks. This means investors have been betting the next price move for these names will be lower, and some strategists suggest that this week's meme surge is merely the latest pillar of a consistent theme during the S&P 500's 25% rally over the last three months. "A lot of what has outperformed significantly [since the market bottom], obviously the memes, but the heavily shorted stocks of every variety," Charles Schwab chief investment strategist Liz Ann Sonders told Yahoo Finance on Wednesday. "So I think there may be that also added attempt on the part of the retail trader to press those shorts and force a repositioning on the part of speculators and institutions." Short sellers have lost just shy of $355 billion since the market bottom on April 8, according to data from S3 Partners. That includes more than $100 billion in losses since Yahoo Finance last published S3's data on May 22. Read more here. AI trade takes center stage as Big Tech earnings season kicks off Tech earnings season kicks off in earnest on Wednesday when Google parent Alphabet (GOOG, GOOGL) reports its results after the bell — and AI will once again dominate the conversation — Yahoo Finance's Dan Howley reports. Howley writes: Read the full story here. Toyota, Honda, Nissan stocks soar on trade pact as Big 3 say it's a 'bad deal' Toyota (TM), Honda (HMC), and Nissan (NSANY) stocks surged on Wednesday morning on confirmation that the Trump administration and Japanese government struck a trade deal, Yahoo Finance's Pras Subramanian reports. Subramanian writes: Read the full story here. Wendy's spikes, 'could be the next meme' Wendy's (WEN) stock climbed nearly 5% Wednesday after spiking 11% earlier in the morning. Reddit users on r/wallstreetbets discussed squeezing the stock in a string of comments late Tuesday, with one user saying Wendy's "could be the next meme." Meanwhile, GoPro (GPRO) and Krispy Kreme (DNUT) early Wednesday appeared set to be the latest stars of a meme stock resurgence. Wendy's hit its lowest closing price in nearly a decade on Monday, with shares ending the trading session at $10.30. The fast food chain has reported earnings falling in three of the past four quarters. In its most recent quarterly results, Wendy's reported sales below Wall Street's expectations amid "a challenging consumer environment." MARA plummets after announcing proposed private offering MARA Holdings (MARA) stock sank nearly 11% after the crypto miner announced a proposed $850 million debt offering. The company said it would use the proceeds, in part, "to acquire additional bitcoin." Lately, companies and bitcoin treasuries have tested investor sentiment on using debt and equity to fund their bitcoin purchases. Trump Media & Technology Group (DJT) and GameStop (GME) fell earlier this year after announcing they were issuing debt — and also common stock, in Trump Media's case — to fund bitcoin acquisitions. Monness, Crespi, Hardt & Co analyst Gustavo Gala said in a recent series of notes to clients that fixed income investors have shown limited interest in the Strategy's (MSTR) convertible debt and preferred shares used to fund its bitcoin purchases, writing in early June that Strategy has 'a limited runway' to continue its approach. Despite Wednesday's decline, MARA shares are up nearly 7% for 2025. Still, that's less than fellow crypto miner Riot Platforms' (RIOT) 37.5% gain and CleanSpark's (CLSK) 36% climb. Kohl's falls after meme stock rally Kohl's (KSS) stock fell more than 12% Wednesday morning after a meme stock craze pushed shares up nearly 38% the day prior. In an analysis on Tuesday, S3 Partners said Kohl's is a "battleground stock" because it has equal amounts of active long and short positions. "With both the long and short sides equally balanced there is inherently more volatility in the stock, there is a greater chance of seeing sudden and severe spikes in stock prices much like the sudden drop in a see-saw when one side jumps off suddenly," Ihor Dusaniwsky, S3's head of predictive analytics, wrote. US stocks climb at the open US stocks rose at the market open on Wednesday. The Dow Jones Industrial Average (^DJI) moved up roughly 0.6%, while the S&P 500 (^GSPC) added 0.3%. The tech-heavy Nasdaq Composite (^IXIC) edged up around 0.2%. The gain sets the S&P 500 on track for its third record close in a row. The broad benchmark eked out a slight gain to notch back-to-back all-time highs on Tuesday in a mixed day for stocks. Gold wavers as Trump's deal with Japan eases trade concerns The price of gold (GC=F) retreated on Wednesday after a three-day rally as President Trump's trade deal with Japan relieved some demand for the safe-haven asset. Gold prices pared some losses, however, once it became clear that the European Union is preparing over $100 billion in tariff countermeasures. Gold futures fell 0.18% to $3,437 ahead of the opening bell. Silver futures (SI=F), meanwhile, rose 0.6% to $39.80 an ounce, the highest since 2011. Bloomberg reports: Read more here. Trump readies new hands-off AI 'action plan' President Trump is expected to release an AI "action plan" on Wednesday, said to outline how the US can win in the global AI race by taking a hands-off regulatory approach. The plan is likely to cover how to make it easier to export AI technology and to lower barriers to domestic development, going by a draft reported by Reuters. A clutch of supporting executive orders expected this week could include one that could draw legal challenges, notes Yahoo Finance's Alexis Keenan: Read more here. AT&T subscribers surge, but the stock is sliding premarket AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. How the dropping dollar could scramble Trump's agenda President Trump has said he is "never going to let the dollar slide." But his agenda is making that complicated, Yahoo Finance's Ben Werschkul reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA mortgage applications (July 18); Existing home sales (June) Earnings: Alphabet (GOOGL, GOOG), Tesla (TSLA), Chipotle (CMG), Alaska Airlines (ALK), AT&T (T), Fiserv (FI), Freeport-McMoran (FCX), GE Vernova (GEV), General Dynamics (GD), Hasbro (HAS), IBM (IBM), O'Reilly Automotive (ORLY), QuantumScape (QS) Here are some of the biggest stories you may have missed overnight and early this morning: AT&T stock slides despite subscriber surge; Tesla, Google on deck Trump gets Japan deal, but EU digs in with $100B response How the dollar's drop could scramble Trump's agenda Trump to launch hands-off 'action plan' to win AI race Google earnings on deck: AI results wanted, not just hype The protein boom is only beginning Krispy Kreme, GoPro jump as meme stock rally continues AT&T beats profit estimates as bundled plans boost subscribers Hilton lifts 2025 profit forecast on US demand recovery The protein boom is only beginning Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Enphase stock slides on warning of hit from Trump policies Shares in Enphase Energy (ENPH) fell after its third quarter revenue forecast fell short, as the US solar company pointed to headwinds from President Trump's policies. The solar equipment maker said Trump's import tariffs had hit its gross margin, after the US in April finalized steep duties on solar cells from Southeast Asia. At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Trending tickers: Krispy Kreme, GoPro and Constellation Energy Corporation Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT) stock rose 22% before the bell after its name was boosted on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Chipotle stock slides as same-store-sales fall more than expected Chipotle (CMG) stock slid more than 7% in after hours trading as the fast casual restaurant chain saw same-store-sales fell 4% in the second quarter. Wall Street had expected just shy of a 3% decline. The company reported adjusted earnings per share of $0.33 on revenue of $3.1 billion, roughly in line with the streets estimates. Chipotle (CMG) stock slid more than 7% in after hours trading as the fast casual restaurant chain saw same-store-sales fell 4% in the second quarter. Wall Street had expected just shy of a 3% decline. The company reported adjusted earnings per share of $0.33 on revenue of $3.1 billion, roughly in line with the streets estimates. Google beats estimates on Q2 earnings results, but increased cap-ex spending sends shares lower Yahoo Finance's Dan Howley reports: Google parent Alphabet (GOOG, GOOGL) reported its second quarter earnings after the bell on Wednesday, beating expectations on the top and bottom lines on the strength of its advertising and cloud businesses. But the company said capital expenditures will climb to $85 billion. Google previously projected $75 billion. Shares of Alphabet fell more than 1%. For the quarter, Google saw adjusted earnings per share of $2.31 on revenue excluding traffic acquisition costs (TAC) of $81.2 billion. Analysts were anticipating Adj. EPS of $2.17 on revenue ex-TAC of $79.6 billion. The company posted revenue of $71.3 billion during the same period last year. Advertising revenue came in at $71.3 billion versus expectations of $69.6 billion. Search revenue topped out at $54.1 billion versus an anticipated $52.7 billion. YouTube ad revenue was $9.8 billion versus expctations of $9.5 billion. Google Cloud Platform revenue hit $13.6 billion. Analysts were looking for $13.1 billion. Read more here. Yahoo Finance's Dan Howley reports: Google parent Alphabet (GOOG, GOOGL) reported its second quarter earnings after the bell on Wednesday, beating expectations on the top and bottom lines on the strength of its advertising and cloud businesses. But the company said capital expenditures will climb to $85 billion. Google previously projected $75 billion. Shares of Alphabet fell more than 1%. For the quarter, Google saw adjusted earnings per share of $2.31 on revenue excluding traffic acquisition costs (TAC) of $81.2 billion. Analysts were anticipating Adj. EPS of $2.17 on revenue ex-TAC of $79.6 billion. The company posted revenue of $71.3 billion during the same period last year. Advertising revenue came in at $71.3 billion versus expectations of $69.6 billion. Search revenue topped out at $54.1 billion versus an anticipated $52.7 billion. YouTube ad revenue was $9.8 billion versus expctations of $9.5 billion. Google Cloud Platform revenue hit $13.6 billion. Analysts were looking for $13.1 billion. Read more here. What to watch in Alphabet earnings after the bell Yahoo Finance's Dan Howley reports: Google parent Alphabet (GOOG, GOOGL) will report its second quarter earnings after the bell on Wednesday as the company continues to ride the artificial intelligence wave. Alphabet is one of the largest and most advanced companies in the space, thanks to its vast network of data centers and Gemini AI models. According to CEO Sundar Pichai, the company's AI Overview is already drawing 1.5 billion users, and its AI services are seeing 2x longer queries than its traditional search product. According to BofA Global Research analyst Justin Post, potential positives for the quarter include increasing advertising spending, AI helping to power revenue, and strong cloud performance. "We remain constructive on Google's ability to drive AI usage despite cautious sentiment, and see Gemini improvements, AI Mode integration in search and Workspace price increases as key YTD positives," Post wrote in a note to investors. For the quarter, Google is expected to post adjusted earnings per share of $2.17 on revenue excluding traffic acquisition costs (TAC) of $79.6 billion, an 11.6% jump versus the same period last year, when the company posted revenue of $71.3 billion, according to analyst consensus data from Bloomberg. Read more here. Yahoo Finance's Dan Howley reports: Google parent Alphabet (GOOG, GOOGL) will report its second quarter earnings after the bell on Wednesday as the company continues to ride the artificial intelligence wave. Alphabet is one of the largest and most advanced companies in the space, thanks to its vast network of data centers and Gemini AI models. According to CEO Sundar Pichai, the company's AI Overview is already drawing 1.5 billion users, and its AI services are seeing 2x longer queries than its traditional search product. According to BofA Global Research analyst Justin Post, potential positives for the quarter include increasing advertising spending, AI helping to power revenue, and strong cloud performance. "We remain constructive on Google's ability to drive AI usage despite cautious sentiment, and see Gemini improvements, AI Mode integration in search and Workspace price increases as key YTD positives," Post wrote in a note to investors. For the quarter, Google is expected to post adjusted earnings per share of $2.17 on revenue excluding traffic acquisition costs (TAC) of $79.6 billion, an 11.6% jump versus the same period last year, when the company posted revenue of $71.3 billion, according to analyst consensus data from Bloomberg. Read more here. Home sales declined in June as prices hit new all-time high Sales of existing homes dropped more than expected in June, the latest sign that record-high prices and elevated mortgage rates are extending the housing market's deep freeze, Yahoo Finance's Claire Boston reports. Boston writes: Read the full story here. Sales of existing homes dropped more than expected in June, the latest sign that record-high prices and elevated mortgage rates are extending the housing market's deep freeze, Yahoo Finance's Claire Boston reports. Boston writes: Read the full story here. The meme stock rally continues the Trump trade rebound that has stocks trading at record highs Meme stocks are running wild again. Some of the latest highfliers — Krispy Kreme (DNUT), Opendoor (OPEN), and Kohl's (KSS) — all have one key thing in common: They are heavily shorted stocks. This means investors have been betting the next price move for these names will be lower, and some strategists suggest that this week's meme surge is merely the latest pillar of a consistent theme during the S&P 500's 25% rally over the last three months. "A lot of what has outperformed significantly [since the market bottom], obviously the memes, but the heavily shorted stocks of every variety," Charles Schwab chief investment strategist Liz Ann Sonders told Yahoo Finance on Wednesday. "So I think there may be that also added attempt on the part of the retail trader to press those shorts and force a repositioning on the part of speculators and institutions." Short sellers have lost just shy of $355 billion since the market bottom on April 8, according to data from S3 Partners. That includes more than $100 billion in losses since Yahoo Finance last published S3's data on May 22. Read more here. Meme stocks are running wild again. Some of the latest highfliers — Krispy Kreme (DNUT), Opendoor (OPEN), and Kohl's (KSS) — all have one key thing in common: They are heavily shorted stocks. This means investors have been betting the next price move for these names will be lower, and some strategists suggest that this week's meme surge is merely the latest pillar of a consistent theme during the S&P 500's 25% rally over the last three months. "A lot of what has outperformed significantly [since the market bottom], obviously the memes, but the heavily shorted stocks of every variety," Charles Schwab chief investment strategist Liz Ann Sonders told Yahoo Finance on Wednesday. "So I think there may be that also added attempt on the part of the retail trader to press those shorts and force a repositioning on the part of speculators and institutions." Short sellers have lost just shy of $355 billion since the market bottom on April 8, according to data from S3 Partners. That includes more than $100 billion in losses since Yahoo Finance last published S3's data on May 22. Read more here. AI trade takes center stage as Big Tech earnings season kicks off Tech earnings season kicks off in earnest on Wednesday when Google parent Alphabet (GOOG, GOOGL) reports its results after the bell — and AI will once again dominate the conversation — Yahoo Finance's Dan Howley reports. Howley writes: Read the full story here. Tech earnings season kicks off in earnest on Wednesday when Google parent Alphabet (GOOG, GOOGL) reports its results after the bell — and AI will once again dominate the conversation — Yahoo Finance's Dan Howley reports. Howley writes: Read the full story here. Toyota, Honda, Nissan stocks soar on trade pact as Big 3 say it's a 'bad deal' Toyota (TM), Honda (HMC), and Nissan (NSANY) stocks surged on Wednesday morning on confirmation that the Trump administration and Japanese government struck a trade deal, Yahoo Finance's Pras Subramanian reports. Subramanian writes: Read the full story here. Toyota (TM), Honda (HMC), and Nissan (NSANY) stocks surged on Wednesday morning on confirmation that the Trump administration and Japanese government struck a trade deal, Yahoo Finance's Pras Subramanian reports. Subramanian writes: Read the full story here. Wendy's spikes, 'could be the next meme' Wendy's (WEN) stock climbed nearly 5% Wednesday after spiking 11% earlier in the morning. Reddit users on r/wallstreetbets discussed squeezing the stock in a string of comments late Tuesday, with one user saying Wendy's "could be the next meme." Meanwhile, GoPro (GPRO) and Krispy Kreme (DNUT) early Wednesday appeared set to be the latest stars of a meme stock resurgence. Wendy's hit its lowest closing price in nearly a decade on Monday, with shares ending the trading session at $10.30. The fast food chain has reported earnings falling in three of the past four quarters. In its most recent quarterly results, Wendy's reported sales below Wall Street's expectations amid "a challenging consumer environment." Wendy's (WEN) stock climbed nearly 5% Wednesday after spiking 11% earlier in the morning. Reddit users on r/wallstreetbets discussed squeezing the stock in a string of comments late Tuesday, with one user saying Wendy's "could be the next meme." Meanwhile, GoPro (GPRO) and Krispy Kreme (DNUT) early Wednesday appeared set to be the latest stars of a meme stock resurgence. Wendy's hit its lowest closing price in nearly a decade on Monday, with shares ending the trading session at $10.30. The fast food chain has reported earnings falling in three of the past four quarters. In its most recent quarterly results, Wendy's reported sales below Wall Street's expectations amid "a challenging consumer environment." MARA plummets after announcing proposed private offering MARA Holdings (MARA) stock sank nearly 11% after the crypto miner announced a proposed $850 million debt offering. The company said it would use the proceeds, in part, "to acquire additional bitcoin." Lately, companies and bitcoin treasuries have tested investor sentiment on using debt and equity to fund their bitcoin purchases. Trump Media & Technology Group (DJT) and GameStop (GME) fell earlier this year after announcing they were issuing debt — and also common stock, in Trump Media's case — to fund bitcoin acquisitions. Monness, Crespi, Hardt & Co analyst Gustavo Gala said in a recent series of notes to clients that fixed income investors have shown limited interest in the Strategy's (MSTR) convertible debt and preferred shares used to fund its bitcoin purchases, writing in early June that Strategy has 'a limited runway' to continue its approach. Despite Wednesday's decline, MARA shares are up nearly 7% for 2025. Still, that's less than fellow crypto miner Riot Platforms' (RIOT) 37.5% gain and CleanSpark's (CLSK) 36% climb. MARA Holdings (MARA) stock sank nearly 11% after the crypto miner announced a proposed $850 million debt offering. The company said it would use the proceeds, in part, "to acquire additional bitcoin." Lately, companies and bitcoin treasuries have tested investor sentiment on using debt and equity to fund their bitcoin purchases. Trump Media & Technology Group (DJT) and GameStop (GME) fell earlier this year after announcing they were issuing debt — and also common stock, in Trump Media's case — to fund bitcoin acquisitions. Monness, Crespi, Hardt & Co analyst Gustavo Gala said in a recent series of notes to clients that fixed income investors have shown limited interest in the Strategy's (MSTR) convertible debt and preferred shares used to fund its bitcoin purchases, writing in early June that Strategy has 'a limited runway' to continue its approach. Despite Wednesday's decline, MARA shares are up nearly 7% for 2025. Still, that's less than fellow crypto miner Riot Platforms' (RIOT) 37.5% gain and CleanSpark's (CLSK) 36% climb. Kohl's falls after meme stock rally Kohl's (KSS) stock fell more than 12% Wednesday morning after a meme stock craze pushed shares up nearly 38% the day prior. In an analysis on Tuesday, S3 Partners said Kohl's is a "battleground stock" because it has equal amounts of active long and short positions. "With both the long and short sides equally balanced there is inherently more volatility in the stock, there is a greater chance of seeing sudden and severe spikes in stock prices much like the sudden drop in a see-saw when one side jumps off suddenly," Ihor Dusaniwsky, S3's head of predictive analytics, wrote. Kohl's (KSS) stock fell more than 12% Wednesday morning after a meme stock craze pushed shares up nearly 38% the day prior. In an analysis on Tuesday, S3 Partners said Kohl's is a "battleground stock" because it has equal amounts of active long and short positions. "With both the long and short sides equally balanced there is inherently more volatility in the stock, there is a greater chance of seeing sudden and severe spikes in stock prices much like the sudden drop in a see-saw when one side jumps off suddenly," Ihor Dusaniwsky, S3's head of predictive analytics, wrote. US stocks climb at the open US stocks rose at the market open on Wednesday. The Dow Jones Industrial Average (^DJI) moved up roughly 0.6%, while the S&P 500 (^GSPC) added 0.3%. The tech-heavy Nasdaq Composite (^IXIC) edged up around 0.2%. The gain sets the S&P 500 on track for its third record close in a row. The broad benchmark eked out a slight gain to notch back-to-back all-time highs on Tuesday in a mixed day for stocks. US stocks rose at the market open on Wednesday. The Dow Jones Industrial Average (^DJI) moved up roughly 0.6%, while the S&P 500 (^GSPC) added 0.3%. The tech-heavy Nasdaq Composite (^IXIC) edged up around 0.2%. The gain sets the S&P 500 on track for its third record close in a row. The broad benchmark eked out a slight gain to notch back-to-back all-time highs on Tuesday in a mixed day for stocks. Gold wavers as Trump's deal with Japan eases trade concerns The price of gold (GC=F) retreated on Wednesday after a three-day rally as President Trump's trade deal with Japan relieved some demand for the safe-haven asset. Gold prices pared some losses, however, once it became clear that the European Union is preparing over $100 billion in tariff countermeasures. Gold futures fell 0.18% to $3,437 ahead of the opening bell. Silver futures (SI=F), meanwhile, rose 0.6% to $39.80 an ounce, the highest since 2011. Bloomberg reports: Read more here. The price of gold (GC=F) retreated on Wednesday after a three-day rally as President Trump's trade deal with Japan relieved some demand for the safe-haven asset. Gold prices pared some losses, however, once it became clear that the European Union is preparing over $100 billion in tariff countermeasures. Gold futures fell 0.18% to $3,437 ahead of the opening bell. Silver futures (SI=F), meanwhile, rose 0.6% to $39.80 an ounce, the highest since 2011. Bloomberg reports: Read more here. Trump readies new hands-off AI 'action plan' President Trump is expected to release an AI "action plan" on Wednesday, said to outline how the US can win in the global AI race by taking a hands-off regulatory approach. The plan is likely to cover how to make it easier to export AI technology and to lower barriers to domestic development, going by a draft reported by Reuters. A clutch of supporting executive orders expected this week could include one that could draw legal challenges, notes Yahoo Finance's Alexis Keenan: Read more here. President Trump is expected to release an AI "action plan" on Wednesday, said to outline how the US can win in the global AI race by taking a hands-off regulatory approach. The plan is likely to cover how to make it easier to export AI technology and to lower barriers to domestic development, going by a draft reported by Reuters. A clutch of supporting executive orders expected this week could include one that could draw legal challenges, notes Yahoo Finance's Alexis Keenan: Read more here. AT&T subscribers surge, but the stock is sliding premarket AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. AT&T (T) stock fell over 3% in premarket trading despite the telecom provider reporting a huge subscriber beat. Reuters reports: Read more here. How the dropping dollar could scramble Trump's agenda President Trump has said he is "never going to let the dollar slide." But his agenda is making that complicated, Yahoo Finance's Ben Werschkul reports: Read more here. President Trump has said he is "never going to let the dollar slide." But his agenda is making that complicated, Yahoo Finance's Ben Werschkul reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA mortgage applications (July 18); Existing home sales (June) Earnings: Alphabet (GOOGL, GOOG), Tesla (TSLA), Chipotle (CMG), Alaska Airlines (ALK), AT&T (T), Fiserv (FI), Freeport-McMoran (FCX), GE Vernova (GEV), General Dynamics (GD), Hasbro (HAS), IBM (IBM), O'Reilly Automotive (ORLY), QuantumScape (QS) Here are some of the biggest stories you may have missed overnight and early this morning: AT&T stock slides despite subscriber surge; Tesla, Google on deck Trump gets Japan deal, but EU digs in with $100B response How the dollar's drop could scramble Trump's agenda Trump to launch hands-off 'action plan' to win AI race Google earnings on deck: AI results wanted, not just hype The protein boom is only beginning Krispy Kreme, GoPro jump as meme stock rally continues AT&T beats profit estimates as bundled plans boost subscribers Hilton lifts 2025 profit forecast on US demand recovery Economic data: MBA mortgage applications (July 18); Existing home sales (June) Earnings: Alphabet (GOOGL, GOOG), Tesla (TSLA), Chipotle (CMG), Alaska Airlines (ALK), AT&T (T), Fiserv (FI), Freeport-McMoran (FCX), GE Vernova (GEV), General Dynamics (GD), Hasbro (HAS), IBM (IBM), O'Reilly Automotive (ORLY), QuantumScape (QS) Here are some of the biggest stories you may have missed overnight and early this morning: AT&T stock slides despite subscriber surge; Tesla, Google on deck Trump gets Japan deal, but EU digs in with $100B response How the dollar's drop could scramble Trump's agenda Trump to launch hands-off 'action plan' to win AI race Google earnings on deck: AI results wanted, not just hype The protein boom is only beginning Krispy Kreme, GoPro jump as meme stock rally continues AT&T beats profit estimates as bundled plans boost subscribers Hilton lifts 2025 profit forecast on US demand recovery The protein boom is only beginning Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Enphase stock slides on warning of hit from Trump policies Shares in Enphase Energy (ENPH) fell after its third quarter revenue forecast fell short, as the US solar company pointed to headwinds from President Trump's policies. The solar equipment maker said Trump's import tariffs had hit its gross margin, after the US in April finalized steep duties on solar cells from Southeast Asia. At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Shares in Enphase Energy (ENPH) fell after its third quarter revenue forecast fell short, as the US solar company pointed to headwinds from President Trump's policies. The solar equipment maker said Trump's import tariffs had hit its gross margin, after the US in April finalized steep duties on solar cells from Southeast Asia. At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Trending tickers: Krispy Kreme, GoPro and Constellation Energy Corporation Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT) stock rose 22% before the bell after its name was boosted on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT) stock rose 22% before the bell after its name was boosted on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data
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Lincoln to take another run at Harder
Jul. 23—The nation saw a rematch between presidential candidates in November, and now San Joaquin County will see two familiar faces go head-to-head in Congress. Former Stockton mayor Kevin Lincoln announced his candidacy for the 9th District seat on Tuesday, setting up a rematch against incumbent Josh Harder in 2026. "As a Marine, I learned the value of service and sacrifice," he said in a media statement. "As mayor, I challenged the status quo and fought to make our communities safer, more affordable, and more prosperous. I'm looking to take these values and experiences to Washington, D.C., because valley families deserve a strong voice who understands their struggles and will deliver real results." Lincoln, 42, and Harder faced off last year for the seat, in which the latter won by a narrow 3.6%. A former military police officer with United States Marine Corps, Lincoln is also the executive administrative pastor at Life Song Church and manager at Securities Services. He served one term as Stockton's mayor from 2022-2024, defeating Michael Tubbs. Hours after Lincoln's announcement, Harder posted a response that said he defeated the Republican in November and he'll do it again next year. "Kevin Lincoln is a failed mayor and serial candidate who allowed crime and homelessness to soar in Stockton all while spending millions on perks for himself and aligning with Washington extremists to rip health care away from valley families," Harder said. "Handpicked by political elites, Lincoln would be a guaranteed vote for higher housing and grocery prices, hospital closures and Social Security cuts all to serve billionaires like Elon Musk," he added. "Voters rejected him in 2024, and they'll reject him again because our valley deserves better." Clements resident Jim Shoemaker and Stockton resident John McBride ran in last year's election, and have announced their candidacy against Harder as well. Shoemaker ran against Jerry McNerney for the California Senate's 5th seat, losing to the Democrat by 12.9% last November. This is Shoemaker's fourth run for public office. Prior to last year's campaign, he unsuccessfully ran for the District 5 seat in 2000, and ran against Harder. Shoemaker has lived in the district for the last 35 years, and has worked in a variety of industries, including agriculture, construction, life insurance and real estate. This will be McBride's second run for Congress, who finished a distant third in last year's primary. Born in Meriden, Conn., McBride, 64, is a former strength and conditioning coach at University of the Pacific and St. Mary's High School who has lived in the district 35 years. He is currently self-employed as an athletic performance coach, bodybuilding coach and nutrition advisor. Solve the daily Crossword
