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2d ago

U.S. Stocks Climb to Record Highs on Trade Deal Progress, Earnings Momentum

Broad corporate profit surprises combined with tariff breakthroughs have propelled record equity closes ahead of a Fed meeting under presidential scrutiny.

The Alphabet logo, a keyboard, and robot hands are seen in this illustration created on January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. REUTERS/Brendan McDermid/File Photo

Overview

  • The S&P 500 notched its 13th record close of 2025 and the Nasdaq Composite hit fresh highs, even as the Dow trailed on declines in IBM and other blue chips.
  • Alphabet topped second-quarter earnings and revenue forecasts while Tesla’s auto revenue fell for a second straight quarter, IBM’s software sales lagged expectations and American Airlines cut its third-quarter guidance.
  • Almost 83% of S&P 500 companies reporting have outstripped consensus profit expectations, underscoring widespread corporate resilience.
  • President Trump’s reciprocal 15% tariff deal with Japan plus reported progress on a similar agreement with the EU has boosted investor sentiment ahead of an August 1 negotiation deadline.
  • Investors are awaiting next week’s Federal Reserve meeting with markets pricing in steady rates, as President Trump applies public pressure on Chair Jerome Powell through a first presidential Fed visit in nearly two decades.