Overview

• The S&P 500 rose to 6,363.35 and the Nasdaq to 21,057.96 on July 24, each closing at fresh highs driven by broad market gains
• The Trump administration clinched a reciprocal 15% tariff deal with Japan, replacing a planned 25% levy and bolstering investor confidence
• More than one-fifth of S&P 500 companies have reported Q2 results, led by Alphabet’s 14% year-over-year revenue growth on strong AI services demand
• Tesla’s net profit fell 16% in Q2, sending its shares down over 8%, and American Airlines cut its Q3 outlook, triggering an 8% drop in its stock
• Yields on the U.S. 10-year Treasury climbed to roughly 4.38%–4.41% as markets digested mixed earnings and awaited progress in EU trade talks