Overview

• June retail sales climbed 0.6% month-over-month—well above forecasts—while consumer sentiment reached a five-month high, underpinning Thursday’s record closes for the S&P 500, Nasdaq 100 and Russell 2000.
• President Trump’s reported push for 15–20% tariffs on European Union goods has prompted a cautious tone, weighing on sectors from streaming to finance.
• Netflix beat earnings expectations with a record $11.08 billion in Q2 revenue and raised its full-year forecast but saw its shares fall as it cautioned on lower margins in the second half.
• Elevance Health and Humana stocks slid on a cut to earnings outlook and a Medicare bonus payment lawsuit loss, while Albemarle jumped nearly 8% after China ordered a halt to Zangge Mining’s lithium output.
• Treasury yields dipped on dovish Fed comments and University of Michigan data showing easing inflation expectations, setting a calm trading backdrop before the bulk of Q2 earnings season.