S&P 500 and Nasdaq notch record high closes, lifted by Alphabet
By Noel
Randewich and Nikhil
Sharma
Mon July 21, 2025 4:29 PM
Stoked by an anticipated glowing report from Google (due Wednesday) and also more Magnificent Seven reports later this week, all the indexes shot way up throughout the day, the Dow up over 250 points, until about 2 pm when they all started plummeting to close at a near wash. But tech was still in positive territory which also meant the S&P and Nasdaq had still one more record close. For the year, the S&P is up 7%, the Nasdaq 9%. S&P Q2 earnings are expected to increase by 6.7% and the good news so far is that companies have met or beaten guidance.
Since the real concern was a decrease in profits due to tariffs, this is taken as a very optimistic sign on inflation. But tariff and inflation issues still haunt as the August 1st deadline closes in so eyes will be on Powell’s remarks tomorrow plus jobless claims on Thursday. Investors are also heavily betting on new trade deals to muffle any tariff impacts. Oddly enough, despite the good news, the odds of a September rate cut have been lowered again from 54% to 50%, down from 60% last week. Volume came in at 19.7 billion, well above the 17.7 average.
DJ: 44,342.19 -142.30 NAS: 20,895.66
+10.01 S&P: 6,296.79
-0.57 7/18
DJ: 44,323.07 -19.12 NAS: 20,974.18
+78.52 S&P: 6,305.60
+8.81 7/21
No comments:
Post a Comment