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yesterday

S&P 500 and Nasdaq Close at Record Highs on Trade-Deal Optimism

Bullish trade deals have driven U.S. equities to fresh records ahead of next week’s Federal Reserve policy meeting.

The Alphabet logo, a keyboard, and robot hands are seen in this illustration created on January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
Traders wait for insurance marketplace Accelerant to begin trading during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2025. REUTERS/Brendan McDermid
Fitness instructor walking with senior couple at public park
German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 22, 2025. REUTERS/Wolfgang Rattay/File Photo

Overview

  • S&P 500 and Nasdaq Composite both notched new all-time intraday and closing highs Thursday, marking the 13th record close for the S&P 500 this year.
  • President Trump’s announcement of a “massive Deal” with Japan imposing reciprocal 15% tariffs and reported progress with the EU have bolstered investor confidence ahead of the August 1 tariff deadline.
  • Alphabet shares rose over 2% after beating second-quarter earnings and revenue forecasts, while Tesla shares fell around 3% on a second straight quarterly decline in auto revenue.
  • Losses in UnitedHealth, IBM and Honeywell weighed on the Dow Jones Industrial Average, causing the blue-chip index to lag behind its technology-driven counterparts.
  • Investors are evaluating policy direction as President Trump’s unprecedented visit to the Federal Reserve heightens scrutiny of next week’s rate decision.