Particle.news
Download on the App Store
29 ARTICLES
·
3w ago

U.S. Stocks Slip After Rally as Services PMI Falters and Tariff Risks Intensify

Fed rate-cut probabilities climbed above 85% as traders reacted to a 50.1 ISM services PMI and renewed tariff threats on India.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 30, 2025. REUTERS/Jeenah Moon/File Photo
A screen shows U.S. President Donald Trump, as a futures-options trader works on the floor of the the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2025. REUTERS/Jeenah Moon/File photo
A woman holding a portable fan walks past a screen displaying a graph of recent Japan's Nikkei share average movements as the Japanese government issued a heatstroke alert in Tokyo and other prefectures due to a heatwave in Tokyo, Japan, August 4, 2025. REUTERS/Issei Kato/File Photo
Image

Overview

  • U.S. stock indexes reversed Monday’s gains on Tuesday, with the S&P 500 down about 0.5% and the Nasdaq off 0.7%.
  • The Institute for Supply Management’s services PMI fell to 50.1 in July, its weakest expansion pace since June and below the 51.5 forecast.
  • President Trump threatened to sharply raise U.S. tariffs on Indian imports over its Russian oil purchases, prompting New Delhi to call the move unjustified.
  • Palantir Technologies exceeded Wall Street’s revenue and earnings forecasts, topped $1 billion in quarterly sales for the first time and saw its market cap rise above $400 billion.
  • Market-implied odds of a September Fed rate cut surged toward 90%, according to the CME FedWatch Tool, as investors weighed mixed earnings and cooling growth.