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USA Today
11 hours ago
- Business
- USA Today
US stock futures higher after trade deals with Japan, Philippines
U.S. stock futures are higher after a rally on trade deals, but some megacap tech companies are due to report quarterly results and could swing sentiment. After the regular session market close, Google-parent Alphabet and electric vehicle giant Tesla will be the first two of the so-called Magnificent Seven to report earnings. Magnificent Seven stocks are megacap tech stocks that have a strong influence on the market. They also include Apple, Microsoft, Nvidia, Meta and Amazon. In 2024, they accounted for about one-third of the S&P 500's total market capitalization. When Tesla and Alphabet report, investors will scour their reports and comments for any signs of weakness in artificial intelligence spending or effects of tariffs to extend the rally begun by trade deals announced by President Donald Trump. The U.S. and Japan agreed to a trade deal that included Japan's investing $550 billion in the U.S. and a 15% tariff on Japanese goods entering the U.S. That includes auto tariffs, which will be lowered to 15% from the current 25%, according to reports. Additionally, Trump said the U.S. struck a trade deal with the Philippines that includes a 19% tariff on goods imported from the southeast Asian country and no tariffs on U.S. goods entering the Phillippines. The two countries will also work togther militarily, he said. Final talks with Indonesia on its trade deal are also underway, the White House said. The framework includes will no tariffs on U.S. goods, while Indonesian goods entering the U.S. will be taxed at 19%. At 6 a.m. ET, futures tied to the blue-chip Dow rose 0.50%, while broad S&P 500 futures gained 0.39% and tech-heavy Nasdaq futures added 0.18%. Before the market opens, toy maker Hasbro, AT&T, Boston Scientific and Hilton are among the companies expected to report earnings. Corporate news Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Al Etihad
a day ago
- Business
- Al Etihad
Stocks mixed with trade and earnings in focus
22 July 2025 13:23 Hong Kong (AFP)Equity markets were mixed on Tuesday as traders kept an eye on earnings from Wall Street titans this week while tracking US trade talks just over a week before the deadline for a took a more cautious path after a largely positive day on Wall Street, where the S&P ended above 6,300 points for the first time and the Nasdaq chalked up yet another continue to rally on expectations key trading partners will strike agreements with Washington before August 1 to avoid Donald Trump's sky-high tariffs, with the US president saying several deals were close. Just three have been struck so press secretary Karoline Leavitt said more could be reached before next Friday but also warned the president could unveil fresh unilateral tolls in that Trump's initial tariff bombshell on April 2 rattled global markets before he delayed introducing the measures twice, they have seen more muted reactions to successive threats as traders expect him to eventually row back optimism has been helped by data indicating the US economy remained healthy despite the imposition of other levies that are beginning to be felt on Main SPI Asset Management's Stephen Innes warned traders could be in for a shock next week."The new tariff regime isn't being priced -- full stop," he wrote."Markets have seen this movie before: tough talk, last-minute extensions, and deal-making in overtime. But this time, Trump isn't bluffing. He's already posted 'No extensions will be granted'."The new rates -- 30% on the EU, 35% on Canada, 50% on Brazil -- are politically loaded and economically radioactive. If they go live, there's no soft landing."Hong Kong has been the standout in Asia this year, piling on around a quarter thanks to a rally in Chinese tech firms and a fresh flow of cash from mainland Hang Seng Index continued its advance Tuesday, pushing to its highest close since late 2021, while Shanghai, Sydney, Manila and Mumbai also were losses in Singapore, Seoul, Wellington, Taipei, Jakarta and Bangkok, while London, Paris and Frankfurt struggled in the dropped after an early rally fizzled out as investors returned from a long weekend to news that Prime Minister Shigeru Ishiba's ruling coalition lost its majority in Japan's upper house elections Sunday, months after it suffered a similar fate in the lower refusal to leave helped stocks and the yen in opening exchanges but observers warned the government's tenure remained fragile and investors remained yen sat around 147.70 per dollar in the afternoon, having struck 147.08 earlier, though it is still stronger than Friday's also turns this week to earnings from some of the world's biggest names, including Tesla, Google-parent Alphabet, General Motors, Intel and Coca-Cola. While there will be plenty of attention given to the results, the firms' guidance will be key as investors try to gauge companies' pulses in light of Trump's trade war. Stock Markets Continue full coverage
Business Recorder
2 days ago
- Business
- Business Recorder
Nasdaq, S&P hit record levels as megacaps rise
NEW YORK: The S&P 500 and the Nasdaq reached new record highs on Monday, bolstered by gains in megacaps as investors geared up for the week's major tech earnings, while the prospects of fresh trade deals also boosted sentiment. At 11:21 a.m. ET, the S&P 500 gained 34.97 points, or 0.56%, to 6,331.90 and the Nasdaq Composite gained 147.24 points, or 0.71%, to 21,042.87. The Dow Jones Industrial Average rose 201.87 points, or 0.46%, to 44,544.76, just 1.28% shy of its all-time high. Verizon gained 4.1% after boosting its annual profit forecast. The stock also drove up the communications sector , which emerged as the top gainer among other sectors. Most big-tech names moved higher, pushing the S&P's information technology sector up 0.6% to hit an all-time high. The spotlight was on Google-parent Alphabet and electric-vehicle maker Tesla, whose results this week will kick off the 'Magnificent Seven' earnings parade, and could set the tone for Wall Street. Shares of Alphabet rose 2.1%, while Tesla dipped 0.2%. Both stocks have lagged their peers so far this year, with Tesla down 18.5% year to date and Alphabet slipping 0.2%. 'It is going to be interesting to see the Tesla and Google reports,' because those two are kind of 'underachievers in the Mag 7 this year,' said Mike Dickson, head of research at Horizon Investments. 'We're going to need these earnings reports to just really knock it out of the park if we want to see this little leg of the rally continue.' Despite US President Donald Trump's August 1 tariff deadline, the S&P 500 and the Nasdaq reached new heights recently as investors believed that the economic fallout from tariffs might not be as dire as once feared. Trump has threatened to slap 30% tariffs on imports from Mexico and the EU, and sent letters to other trading partners, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% to 50%.
New Straits Times
2 days ago
- Business
- New Straits Times
S&P 500 and Nasdaq notch record high closes
NEW YORK: The S&P 500 and the Nasdaq notched record high closes on Monday, lifted by Alphabet and other megacaps ahead of several earnings reports this week, while investors bet on potential trade deals to blunt economic damage from the Trump administration's global tariffs. Google-parent Alphabet rallied 2.70 per cent ahead of its quarterly report on Wednesday. It and Tesla, also reporting on Wednesday, kick off earnings from the so-called "Magnificent Seven", and their results may set the tone for other heavyweight companies reporting in the next several days. Tesla dipped zero point three five per cent, while Apple gained zero point six two per cent and Amazon rose 1.43 per cent, both lifting the S&P 500 and Nasdaq. Verizon rallied over four per cent after the telecommunications company boosted its annual profit forecast. Analysts on average expected S&P 500 companies to report a 6.70 per cent increase in earnings for the second quarter, with Big Tech driving much of that gain, according to LSEG I/B/E/S. "So far, companies that have reported have, in general, met or beat guidance from the prior quarter, and we haven't seen any degradation either in corporate profits or consumer spending," said Tom Hainlin, national investment strategist at US Bank Wealth Management in Minneapolis. With US President Donald Trump's August 1 tariff deadline approaching, the S&P 500 is up about eight per cent year to date, with investors betting the economic damage from tariffs will be less than feared. US Commerce Secretary Howard Lutnick said on Sunday he was confident the United States could secure a trade deal with the European Union, even as EU members explored possible countermeasures against the United States. Trump has threatened 30 per cent tariffs on imports from Mexico and the EU, and sent letters to other trading partners, including Canada, Japan and Brazil, setting tariffs ranging from 20 per cent to 50 per cent. The S&P 500 climbed 0.14 per cent to end the session at 6,305.60 points. The Nasdaq gained 0.38 per cent to 20,974.18 points, while the Dow Jones Industrial Average declined 0.04 per cent to 44,323.07 points. Seven of the 11 S&P 500 sector indexes rose, led by communication services, up 1.90 per cent, followed by a 0.60 per cent gain in consumer discretionary. Volume on US exchanges was relatively heavy, with 19.70 billion shares traded, compared to an average of 17.70 billion shares over the previous 20 sessions. The S&P 500 has gained about seven per cent in 2025, while the Nasdaq has climbed almost nine per cent. Investors focused on how tariff uncertainty is impacting the US economy will scrutinise jobless claims data and the July business activity report, expected on Thursday. They will also watch a speech by Federal Reserve Chair Jerome Powell on Tuesday for clues about when the Fed might cut interest rates, especially after mixed inflation signals last week. Traders have largely ruled out a July rate cut, and they now see a greater than 50 per cent chance the Fed will cut by its September meeting, according to CME Group's FedWatch tool. Declining stocks outnumbered rising ones within the S&P 500 by a 1.7-to-one ratio. The S&P 500 posted 17 new highs and nine new lows; the Nasdaq recorded 97 new highs and 56 new lows.
NBC News
2 days ago
- Business
- NBC News
S&P 500 and Nasdaq notch record high closes, lifted by Alphabet
July 21 (Reuters) - The S&P 500 and the Nasdaq notched record high closes on Monday, lifted by Alphabet and other megacaps ahead of several earnings reports this week, while investors bet on potential trade deals to blunt economic damage from the Trump administration's global tariffs. Google-parent Alphabet rallied ahead of its quarterly report on Wednesday. It and Tesla, also reporting on Wednesday, kick off earnings from the so-called 'Magnificent Seven,' and their results may set the tone for other heavyweight companies reporting in the next several days. Apple and Amazon each gained and helped lift the S&P 500. Verizon rallied after the telecommunications company boosted its annual profit forecast. Analysts on average expected S&P 500 companies to report a 6.7% increase in earnings for the second quarter, with Big Tech driving much of that gain, according to LSEG I/B/E/S. 'So far, companies that have reported have, in general, met or beat guidance from the prior quarter, and we haven't seen any degradation either in corporate profits or consumer spending,' said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. With U.S. President Donald Trump's August 1 tariff deadline approaching, the S&P 500 .SPX is up about 8% year to date, with investors betting the economic damage from tariffs will be less than feared. U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States could secure a trade deal with the European Union, even as EU members explored possible countermeasures against the United States. Trump has threatened 30% tariffs on imports from Mexico and the EU, and sent letters to other trading partners, including Canada, Japan and Brazil, setting tariffs ranging from 20% to 50%. According to preliminary data, the S&P 500 .SPX gained 9.63 points, or 0.15%, to end at 6,306.42 points, while the Nasdaq Composite .IXIC gained 82.99 points, or 0.40%, to 20,978.64. The Dow Jones Industrial Average .DJI fell 3.08 points, or 0.01%, to 44,339.11. Investors focused on how tariff uncertainty is impacting the U.S. economy will scrutinize jobless claims data and the July business activity report, expected on Thursday. They will also watch a speech by Federal Reserve Chair Jerome Powell on Tuesday for clues about when the Fed might cut interest rates, especially after mixed inflation signals last week. Traders have largely ruled out a July rate cut, and they now see a greater than 50% chance the Fed will cut by its September meeting, according to CME Group's FedWatch tool.
