Overview

• The S&P 500 climbed 0.3% to a fresh closing high of 6,377.10 and the Nasdaq Composite rose 0.4% to surpass 21,000 for a second session.
• The Dow Jones Industrial Average fell 0.5% on declines in IBM and Honeywell shares.
• Alphabet’s second-quarter revenue jumped 14% year-over-year to a record $96.4 billion, lifting its stock more than 1%.
• Tesla reported a 12% drop in Q2 revenue to $22.5 billion, its largest decline in a decade, triggering a roughly 9% share plunge.
• Traders are awaiting details of a proposed 15% US-EU base tariff and the release of US composite PMI data ahead of the August 1 deadline.