Equities stall as early enthusiasm ebbs; Amazon, Apple earnings due
Thu July 31, 2025 4:27 PM
Yesterday’s very late surge did indeed continue this morning with all the indexes going into the green. Even the Dow being so heavily in the red yesterday managed to reach break-even today, but the tech indexes surged dramatically this morning, the Nasdaq gaining over 300 points, before all the indexes began a steady decline to all close in the red, the Dow down 3-digits again. So what happened? Even though there were a lot of positive Q2 reports today, there were more negative ones, especially in the AI sector where a lot of companies suddenly appear to be suffering.
And the two big ones, Apple and Amazon, did not come in until after the bell. However, both Apple and Amazon are expected to be very positive and tomorrow that should be added to the day’s other positive news which includes 3/5 of the S&P now reporting with 81% beating forecasts vs the 4-quarter average of 76%, the monthly gains on the S&P and Nasdaq being 2.2 and 3.7% respectively (with the Dow barely moving at all), jobless claims showing the labor market still quite stable, and Mexico getting a 90-day reprieve on its tariffs. Coming up tomorrow will be the non-farm payrolls and the August 1st tariff deadline. It looks like for Friday the positives and negatives cancel each other. Volume came in at 19.6 billion, above the 18 billion average.
DJ: 44,461.28 -171.71 NAS: 21,129.67
+31.38 S&P: 6,362.90
-7.96 7/30
DJ: 44,130.98 -330.30 NAS: 21,122.45
-7.23 S&P: 6,339.39
-23.51 7/31
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