Overview

• Major US indices, including the S&P 500 and Nasdaq, climbed to fresh record closes on Friday underpinned by positive corporate earnings and trade deal momentum.
• President Trump’s announcement that Japan will impose reciprocal 15% tariffs under a new agreement has bolstered investor sentiment.
• Q2 results have broadly exceeded expectations, highlighted by Alphabet’s 14% revenue jump to over $96 billion and its $28.2 billion net profit.
• Tesla reported a 16% year-on-year drop in Q2 net profit, sending its stock down more than 8% after softer EV sales.
• Investors now await a matching 15% tariff compromise in US-EU negotiations before the August 1 deadline to avert broader duties.