S&P, Nasdaq again close at record highs, trade choppy
Mon July 28, 2025 4:32 PM
Yesterday’s newly announced trade deal with the EU should have sent the markets soaring today but instead it was greeted with cautious optimism with erratic trading in which both the S&P and Dow spent most of the afternoon in losses. As today’s expert put it, “It’s feel-good in the sense that it doesn’t represent Armageddon, if the draconian tariffs went into place. But it’s much too soon to pass judgment on the long term effects on how it will play out, It’s better than the alternative, to be sure so I hope they continue.” It also didn’t help that certain EU member nations are against the deal, with France at the front of the line denouncing it as a “submission.”
There are certainly experts who feel the deal simply won’t hold. Meanwhile, Q2 reports on four of the Magnificent Seven are coming this week and depending on their results could swing the market either way. But despite all the red that was seen today, the Nasdaq still had a very good day based as always on AI optimism and both the other indexes recovered most losses by close, the S&P even seeing green if just barely. But even if it was just by a single point, it put the index at now its sixth consecutive closing record and closing on its 15th record for the year. Also coming this week are the PCE and government payrolls reports to shed the latest light on inflation and tariffs. At 17.58 billion, volume was very close to the 17.84 4-week average.
DJ: 44,901.92 +208.01 NAS: 21,108.32
+50.36 S&P: 6,388.64
+25.29 7/25
DJ: 44,837.56 -64.36 NAS: 21,178.58
+70.27 S&P: 6,389.77
+1.13 7/28
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