U.S. stock market hits fresh record highs—Dow, S&P 500, Nasdaq climb, driven by Verizon, Block, Cleveland‑Cliffs gains
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.
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How did the US stock market perform today?
S&P 500
rose approximately
0.3–0.5%
, reaching a new all-time high near
6,315
.
Nasdaq Composite
jumped around
0.5–0.7%
, also setting a fresh record above
21,000
.
Dow Jones Industrial Average
gained modestly, about
0.1–0.4%
, settling just below its all‑time peak.
Is Wall Street's confidence still rooted in Big Tech earnings?
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.
What's driving today's stock market rally?
Several key catalysts are powering the bullish sentiment across Wall Street:
Live Events
Strong corporate earnings
: 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.
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.
Falling Treasury yields
: The 10-year yield has eased to around
4.37%
, which is boosting appetite for equities, especially in tech.
Are Trump's new tariffs shaking global trade confidence?
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.
How are consumer companies holding up in this volatile market?
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.
Who are the top stock market gainers today?
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.
Cleveland-Cliffs (CLF)
: 📈 Gained
+7.4%
after a strong earnings beat.
Verizon (VZ)
: 📈 Rose
+3.3%
thanks to upbeat Q2 earnings and raised full-year guidance.
Meta Platforms (META)
: 📈 Added over
+2%
amid strong rotation into big tech.
Who are the biggest stock losers today?
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.
Domino's Pizza (DPZ)
: 🔻 Slid
-1.6%
despite beating sales estimates—investors were spooked by weaker profits.
Microsoft (MSFT)
: 🔻 Down slightly at
-0.6%
, following some minor tech pullbacks.
What else is moving on Wall Street?
CoreWeave
: ⚡ Up around
+3%
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%
American Express (AXP)
: 📈 Gained
+0.4%
Microsoft (MSFT)
: 🔻 Down slightly
Domino's Pizza (DPZ)
Domino's Pizza (DPZ)
surged after reporting stronger-than-expected
Q2 sales
, 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.
Stock Movement:
DPZ jumped over
5%
during the session.
Highlight:
Strong product innovation offset macroeconomic concerns.
Are markets getting too excited too soon?
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)
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.
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.
Highlight:
Disappointing earnings and tariff exposure hit investor sentiment.
What should investors watch this week?
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.
FAQs:
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.
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