logo
U.S. stock market hits fresh record highs—Dow, S&P 500, Nasdaq climb, driven by Verizon, Block, Cleveland‑Cliffs gains

U.S. stock market hits fresh record highs—Dow, S&P 500, Nasdaq climb, driven by Verizon, Block, Cleveland‑Cliffs gains

Economic Times4 days ago
Synopsis
US Stock market today saw the Dow, S&P 500, and Nasdaq inch higher as Wall Street kicked off a packed week of Big Tech earnings and rising concerns over President Trump's upcoming tariffs. The S&P 500 rose 0.5%, Nasdaq gained 0.7%, and the Dow added 0.4%. Investors are closely watching earnings from Alphabet and Tesla, set to report midweek. Meanwhile, trade tensions with the EU are growing as the August 1 tariff deadline nears. Despite risks, 86% of early S&P 500 reports have beaten expectations. This week could shape the future of both markets and global trade.
Wall Street kicked off the week with a powerful rally as all three major U.S. indexes—the Dow Jones, S&P 500, and Nasdaq Composite—surged to new highs on Monday. Investors poured into equities amid upbeat corporate earnings, cooling Treasury yields, and renewed optimism over a potential U.S.–EU trade deal ahead of the looming August 1 tariff deadline. Tech stocks led the charge, with Block, Verizon, and Cleveland-Cliffs posting standout gains, while all eyes now turn to this week's much-anticipated earnings from Tesla and Alphabet. US Stock market today: Dow, S&P 500, Nasdaq edge higher as investors brace for Big Tech earnings and Trump tariffs- US Stock market today opened the week on a positive note as Wall Street cautiously stepped into a Big Tech-heavy earnings season, while also watching for signs of escalation around President Donald Trump's proposed tariffs. The S&P 500 (^GSPC) rose 0.5% and the Nasdaq Composite (^IXIC) gained 0.7%, continuing last week's strong performance driven by growth and tech stocks. The Dow Jones Industrial Average (^DJI) was up nearly 0.4% as Monday's trading session closed. With earnings season heating up and trade policy becoming more uncertain, investors are juggling optimism and caution. Reports from Alphabet (GOOG) and Tesla (TSLA) later this week are set to dominate headlines, while tensions between the US and EU over trade agreements remain unresolved.
S&P 500 rose approximately 0.3–0.5% , reaching a new all-time high near 6,315 .
rose approximately , reaching a new all-time high near . Nasdaq Composite jumped around 0.5–0.7% , also setting a fresh record above 21,000 .
jumped around , also setting a fresh record above . Dow Jones Industrial Average gained modestly, about 0.1–0.4%, settling just below its all‑time peak.
As the second-quarter earnings season ramps up, all eyes are on Alphabet and Tesla, the first of the so-called "Magnificent Seven" to report results. These earnings will be critical in justifying the current high valuations of tech stocks, especially with investor sentiment so closely tied to the AI boom. Out of the 59 S&P 500 companies that have already posted their Q2 results, a striking 86% have beaten Wall Street estimates, according to Bloomberg. While this beat rate is historically impressive, it's worth noting that expectations were modest to begin with. Any strong performance from Alphabet or Tesla this week could reinforce investor confidence in continued tech sector dominance. Several key catalysts are powering the bullish sentiment across Wall Street:
Strong corporate earnings : Verizon, Cleveland-Cliffs, and Block all reported better-than-expected results, pushing their stocks sharply higher.
: Verizon, Cleveland-Cliffs, and Block all reported better-than-expected results, pushing their stocks sharply higher. Tech optimism : Investors are gearing up for big earnings from Alphabet and Tesla this week.
: Investors are gearing up for big earnings from and this week. Trade relief hopes : Speculation is rising that the U.S. and EU could strike a deal ahead of the August 1 tariff deadline , easing global trade tensions.
: Speculation is rising that the U.S. and EU could strike a deal ahead of the , easing global trade tensions. Falling Treasury yields: The 10-year yield has eased to around 4.37%, which is boosting appetite for equities, especially in tech.
Tensions are rising on the trade front, especially between the United States and the European Union. With President Trump's August 1 tariff deadline fast approaching, concerns about a breakdown in negotiations are growing. The EU, according to Bloomberg, is now open to a slightly imbalanced deal just to avoid new US tariffs. However, resistance within EU member states and Trump's tougher public stance are slowing progress.
Commerce Secretary Howard Lutnick over the weekend described the August 1 deadline as a 'hard stop' for compliance, though he added that conversations may continue even past that point. These mixed signals are keeping global investors on edge.
Domino's Pizza (DPZ) offered a rare bright spot outside tech on Monday. The company's Q2 sales beat estimates, driven by strong customer interest in its new product lineup. Despite the broader uncertainty around tariffs and consumer sentiment, Domino's showed resilience, helping to steady the consumer discretionary sector for the day. Verizon Communications (VZ) and Cleveland-Cliffs (CLF) also released updates Monday, but the focus clearly remained on upcoming tech reports and global trade developments. Here are some of Monday's biggest winners on Wall Street: Block (SQ) : 📈 Surged +8.3% after being selected to join the S&P 500 index.
: 📈 Surged after being selected to join the S&P 500 index. Cleveland-Cliffs (CLF) : 📈 Gained +7.4% after a strong earnings beat.
: 📈 Gained after a strong earnings beat. Verizon (VZ) : 📈 Rose +3.3% thanks to upbeat Q2 earnings and raised full-year guidance.
: 📈 Rose thanks to upbeat Q2 earnings and raised full-year guidance. Meta Platforms (META): 📈 Added over +2% amid strong rotation into big tech. While most of the market is green, a few notable names are under pressure: Sarepta Therapeutics (SRPT) : 🔻 Fell -2.2% after the FDA halted its gene therapy trial due to safety issues.
: 🔻 Fell after the FDA halted its gene therapy trial due to safety issues. Domino's Pizza (DPZ) : 🔻 Slid -1.6% despite beating sales estimates—investors were spooked by weaker profits.
: 🔻 Slid despite beating sales estimates—investors were spooked by weaker profits. Microsoft (MSFT): 🔻 Down slightly at -0.6%, following some minor tech pullbacks. CoreWeave : ⚡ Up around +3% amid AI enthusiasm.
: ⚡ Up around amid AI enthusiasm. Robinhood (HOOD), Roblox (RBLX), MercadoLibre (MELI): 👎 All slipped 2–3%, weighed down by disappointing updates and sector rotation. Within Dow Jones components: Apple (AAPL) : 📈 Up +0.7%
: 📈 Up American Express (AXP) : 📈 Gained +0.4%
: 📈 Gained Microsoft (MSFT): 🔻 Down slightly Domino's Pizza (DPZ) surged after reporting stronger-than-expected Q2 sales , driven by the success of new menu items and solid customer demand.
surged after reporting stronger-than-expected , driven by the success of new menu items and solid customer demand. The earnings beat helped boost investor confidence , despite broader market uncertainty around tariffs.
, despite broader market uncertainty around tariffs. Stock Movement: DPZ jumped over 5% during the session.
DPZ jumped over during the session. Highlight: Strong product innovation offset macroeconomic concerns.
The market's current strength — especially in the S&P 500 and Nasdaq — is raising questions about whether valuations have run ahead of fundamentals. The AI-led rally has pushed many tech stocks near or past all-time highs. Investors will be watching this week's earnings closely to see if results truly back up the excitement. Some analysts worry that this stretch is starting to resemble past tech bubbles, though others argue that actual earnings and real-world AI adoption are finally catching up with investor enthusiasm. Cleveland-Cliffs (CLF) was among the worst performers after its quarterly report missed Wall Street expectations , with pressure from weaker steel demand and rising input costs.
was among the after its quarterly report , with pressure from weaker steel demand and rising input costs. The stock faced additional drag from concerns over future tariff impacts on the commodities and manufacturing sector.
Stock Movement: CLF fell by more than 4% on the day.
CLF fell by on the day. Highlight: Disappointing earnings and tariff exposure hit investor sentiment.
With Alphabet and Tesla reporting Wednesday, followed by more Magnificent Seven companies later in the season, earnings data will shape the narrative. Beyond that, the looming August 1 trade deadline and any updates from the White House on tariffs will be key. So far, strong corporate results have offset global concerns — but that balance could quickly shift if Big Tech disappoints or trade talks break down. Investors are advised to stay alert and watch both earnings numbers and geopolitical headlines as they unfold. The stock market today is riding a wave of optimism from early earnings results and hopes that trade talks won't derail the rally. But with crucial tech updates and global tensions ahead, this week could set the tone for the rest of the quarter. Q: What moved the stock market today? A: Gains in Big Tech stocks and tariff concerns pushed markets slightly higher.
Q: Why are Alphabet and Tesla earnings important this week? A: They're the first major tech firms reporting and could impact overall market direction.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US stock market rallies as S&P 500 and Nasdaq hit fresh records amid earnings boom and Fed rate cut hopes
US stock market rallies as S&P 500 and Nasdaq hit fresh records amid earnings boom and Fed rate cut hopes

Economic Times

time26 minutes ago

  • Economic Times

US stock market rallies as S&P 500 and Nasdaq hit fresh records amid earnings boom and Fed rate cut hopes

U.S. stock markets continued their upward climb on Friday, July 25, 2025, as the S&P 500 and Nasdaq Composite pushed into new record territory, while the Dow Jones hovered just below its all-time highs. Investors remain bullish, fueled by a powerful combination of strong corporate earnings, renewed optimism over potential Federal Reserve rate cuts, and positive sentiment around upcoming U.S. trade deals. As tech and AI-related stocks maintain their momentum and inflation cools further, Wall Street seems to be riding a wave of cautious confidence. U.S. Stock Market stays positive amid strong earnings and fed speculation- On Friday, July 25, 2025, U.S. stock markets continued their upward momentum, with the S&P 500 and Nasdaq Composite inching further into record-high territory. The Dow Jones Industrial Average, while not yet setting a new record, also showed modest gains, supported by investor optimism surrounding strong corporate earnings, easing inflation, and increasing speculation about a potential Federal Reserve interest rate cut. This continued bullish sentiment reflects a combination of solid economic data, corporate performance that's exceeding expectations, and a supportive policy environment. Investors appear more willing to bet on equities, especially as tech giants and AI-driven companies continue to outperform. The S&P 500 rose about 0.1% to 0.17% , continuing its streak of record closing highs. rose about , continuing its streak of record closing highs. The Nasdaq Composite edged up roughly 0.01% to 0.1% , also hitting fresh all‑time highs. edged up roughly , also hitting fresh all‑time highs. The Dow Jones Industrial Average climbed between 0.16% and 0.2% , but still remained just below its all‑time high. climbed between , but still remained just below its all‑time high. Intel shares dropped significantly, dragging on Dow performance despite broader market strength. significantly, dragging on Dow performance despite broader market strength. Strong earnings from roughly 80% of S&P 500 companies helped fuel investor confidence. from roughly 80% of S&P 500 companies helped fuel investor confidence. Tech and AI stocks—including big names like Alphabet and Nvidia—led the gains. Both the S&P 500 and Nasdaq Composite have been grinding out small but consistent gains throughout the week, and Friday followed suit. The S&P 500 added around 0.1% to 0.17%, while the Nasdaq Composite hovered just above the flatline, up by about 0.01% to 0.1%. These small advances may not seem headline-worthy, but they have kept both indexes in record-breaking mode, notching up the longest streak of all-time closing highs since December. This quiet but persistent climb reflects underlying confidence in the U.S. economy, earnings season resilience, and a hopeful outlook on interest rate adjustments. The Dow Jones Industrial Average, which slipped by 0.7% on Thursday, rebounded slightly on Friday morning, rising about 0.16% to 0.2%. Although still just shy of its all-time high, the Dow's recent movements suggest stability amid corporate turbulence. A key reason the Dow is lagging slightly behind its peers is the sharp drop in Intel shares, which tumbled over 6% to 8% after the chipmaker reported a surprise quarterly loss and announced planned job cuts. Intel's performance weighed on the Dow but had less impact on the broader market indexes like the S&P 500. A major catalyst behind the current stock market rally is the performance of technology and AI-driven stocks. Companies like Alphabet (Google) and Nvidia have played a crucial role in propping up the S&P 500 and Nasdaq Composite. The widespread enthusiasm around artificial intelligence continues to fuel investor appetite, especially with businesses across sectors ramping up their investments in AI tools, chips, and platforms. Nvidia's continued dominance in the GPU space, along with Google's strong cloud and AI integration, signals a tech-fueled growth cycle that's far from over. Another key driver of the bullish market trend is a better-than-expected earnings season. So far, approximately 80% of companies listed on the S&P 500 have beaten analyst expectations for second-quarter earnings. Positive surprises from consumer goods makers like Deckers Outdoor and healthcare players such as Edwards Lifesciences have reassured investors that inflation pressures are not eroding corporate profitability as feared. Earnings reports have also shown that many companies are managing to maintain margins, cut costs, and adapt to new consumer behavior trends in a high-interest-rate environment. As broader markets showed strength, one stock that clearly stole the spotlight was GE Vernova (GEV)—today's top-performing stock across the S&P 500. GE Vernova delivered an impressive earnings report, posting $1.73 per share , a dramatic rise from just $0.08 last year. , a dramatic rise from just last year. The company's $9.1 billion in revenue beat expectations and highlighted strong growth across its energy and grid technology divisions. beat expectations and highlighted strong growth across its energy and grid technology divisions. GE Vernova secured 9 gigawatts of new project contracts this quarter, cementing its position as a rising energy infrastructure leader. this quarter, cementing its position as a rising energy infrastructure leader. Management raised the full-year revenue forecast to $36–$37 billion and increased the outlook for free cash flow , giving investors even more reason to stay bullish. and increased the outlook for , giving investors even more reason to stay bullish. With shares now up over 90% year-to-date, GE Vernova is rapidly becoming one of Wall Street's favorite plays in the AI-powered energy transformation. One of the most watched developments in recent weeks has been the Federal Reserve's evolving stance on interest rates. Speculation is mounting that the Fed could begin cutting rates as early as September, especially as inflation continues to cool and economic growth remains stable. Fed officials have been sending mixed but increasingly dovish signals, suggesting they are open to adjusting policy if inflation shows further signs of slowing. President Donald Trump's recent comments, urging the Fed to "do what's necessary" to maintain economic momentum, have also added pressure on central bankers. Lower interest rates would not only support consumer and business borrowing but also make equities more attractive relative to bonds, further supporting the ongoing stock market rally. Markets also found support from positive trade developments, particularly with key trading partners like Japan, the Philippines, Indonesia, and the European Union. As the August 1 deadline for new trade agreements approaches, expectations are high that the U.S. will finalize deals that benefit manufacturing, tech, and agricultural sectors. Investors are optimistic that these agreements could ease global supply chain pressures, reduce tariffs, and enhance export opportunities for U.S. firms. This sense of forward-looking trade optimism is helping keep markets steady even amid short-term uncertainties. With Friday's modest but solid gains, all three major U.S. indexes are heading toward their fourth positive week out of the past five. This trend reflects sustained market momentum, especially as new money continues to flow into equity markets from both retail and institutional investors. The S&P 500's climb, in particular, has impressed analysts, with many noting how it has managed to break records without relying on large, volatile daily swings. Instead, it's been a gradual, fundamentally supported rally—something market bulls see as a sign of long-term strength rather than a short-term bubble. Here's a quick look at the current performance of the major U.S. stock indexes as of Friday, July 25: Index Movement Trend Status S&P 500 +0.1% to +0.17% Multiple daily record closes New all-time high Nasdaq +0.01% to +0.1% Flat to modest gains, still record New all-time high Dow Jones +0.16% to +0.2% Stabilizing after Intel-led drop Near record, not yet breached As we move into the final week of July, investors are watching several key developments: More earnings reports from tech and consumer giants like Apple , Amazon , and Procter & Gamble from tech and consumer giants like , , and Further clarity on the Federal Reserve's interest rate path Finalization of international trade agreements Ongoing developments in AI, chip manufacturing, and data security July jobs data and new inflation reports that may guide rate cut decisions Markets may remain relatively calm in the short term, but any surprise—positive or negative—on these fronts could drive volatility. For now, though, the prevailing trend points to cautious optimism, backed by solid fundamentals and investor U.S. stock market is navigating a sweet spot of strong earnings, hopeful Fed signals, and tech-driven growth. As long as inflation remains in check and policy supports expansion, the path of least resistance may continue to be upward. Q1: Why is the US stock market hitting new records now? Strong earnings, AI stock growth, and Fed rate cut hopes are pushing it higher. Q2: What's keeping the Dow Jones from reaching a record? Intel's weak earnings and job cuts slowed down the Dow's momentum.

Watch: Trump Argues With Fed Chair Powell On Live TV Over Cost Of Fed Building Renovation
Watch: Trump Argues With Fed Chair Powell On Live TV Over Cost Of Fed Building Renovation

NDTV

time26 minutes ago

  • NDTV

Watch: Trump Argues With Fed Chair Powell On Live TV Over Cost Of Fed Building Renovation

After criticising Federal Reserve Chair Jerome Powell everywhere - on social media and in front of reporters, US President Donald Trump landed at the Fed's front door. On Thursday, the president called out Powell regarding the renovation costs of the Fed's headquarters after which the banker corrected him - while the cameras were rolling. In two decades, this is the first time a sitting president has visited the Federal Reserve. The exchange took place as the headquarters of the Fed was still under construction. Both the men had hard hats on. Before the tour, Trump told reporters that the administration was "taking a look at what's happening" at the Fed's renovation. President Trump confronts Jerome Powell at the Federal Reserve. I like this approach. I can think of a few others in government who need to be confronted to their faces just like this! — Suburban Black Man 🇺🇸 (@niceblackdude) July 24, 2025 Trump said, "It looks like it's about $3.1 billion", referring to the renovation budget, to which Powell pushed back, shook his head and said, "I'm not aware of that. I haven't heard that from anybody at the Fed." The Fed has maintained that renovation costs are $2.5 billion. After that, Trump proceeded to take out a document from his jacket and handed it over to Powell. The Fed chairman took a quick look at the paperwork and handed it back saying that Trump was "adding a third building" to the total. "It's a building that's being built," Trump said, to which Powell responded, "It's a building that was built five years ago... it's not new." Trump ended his tour afterward by saying he wanted the renovation to be completed and Powell to aggressively cut benchmark interest rates. "Let's just get it finished and, even more importantly, lower interest rates!", Trump wrote on Truth Social. The Fed chair has refrained from responding to Trump's taunts on social media, saying the Fed can afford to be patient to monitor the impact of the president's tariffs on inflation. The exchange followed months of criticism by Trump of Powell as being "Too Late" on rate cuts and an accompanying pressure campaign to get the central bank head to step down. After the visit, Trump wrote on social media that the construction has "got a long way to go, would have been much better if it were never started, but it is what it is". Trump in the past has labelled Powell as a "stubborn mule", "Trump hater", "numbskull", etc., and has repeatedly floated the idea of firing him.

India, New Zealand conclude second round of FTA talks in Delhi; third round set for September in Auckland
India, New Zealand conclude second round of FTA talks in Delhi; third round set for September in Auckland

Mint

time26 minutes ago

  • Mint

India, New Zealand conclude second round of FTA talks in Delhi; third round set for September in Auckland

New Delhi: India and New Zealand have completed the second round of negotiations for a free trade agreement (FTA), with both sides registering progress across key sectors, the commerce ministry said in a statement on Friday. The discussions, which concluded on 25 July in New Delhi, focused on deepening trade and investment ties and reflected growing alignment on a range of commercial and regulatory issues. The third round is slated for September in New Zealand, the ministry said. The development comes a day after India and the United Kingdom signed a landmark free trade agreement, adding to India's growing portfolio of bilateral trade agreements, including those with Australia and the UAE. The latest talks between India and New Zealand were held from 14-25 July and saw advancement in several negotiating pillars, including trade in goods and services, investment, rules of origin, customs procedures, technical barriers to trade, sanitary and phytosanitary measures, and economic cooperation. Negotiators from both sides indicated that early convergence had been achieved on multiple texts, and virtual intersessional meetings will be held to sustain momentum until the next in-person round. The FTA discussions were formally launched during New Zealand Prime Minister Christopher Luxon's visit to India in March, when he met with Prime Minister Narendra Modi. Both sides announced the launch of negotiations for a free trade agreement as part of efforts to deepen economic cooperation amid growing concerns over a potential global tariff war triggered by US President Donald Trump's aggressive trade stance. Mint was the first to report on India exploring renewed FTA negotiations with New Zealand, in a report dated 26 June 2024. The first round of negotiations between the two countries began in May 2025 in New Delhi. The latest round of talks signals steady movement towards what officials described as a 'balanced, comprehensive, and forward-looking agreement'. India's merchandise trade with New Zealand reached $1.3 billion in 2024-25, up nearly 49% from FY24, albeit from a relatively modest base. Trade analysts said an agreement with New Zealand, while smaller in scale compared with India's deals with the UK and the EU, would help New Delhi stitch a more strategic Indo-Pacific trade network. 'New Zealand is a gateway to the Pacific and has a relatively high per capita import appetite,' said Abhash Kumar, a trade economist. 'A well-negotiated deal will give Indian firms a secure and rules-based market while opening possibilities for trilateral arrangements with Australia or ASEAN (Association of Southeast Asian Nations).' India is focusing on improving access for sectors such as pharmaceuticals, textiles, information technology services, and agri-products, while New Zealand is expected to push for gains in dairy, meat, wine, and education services.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store