On Friday, US stock markets went up slightly. The S&P 500 and Nasdaq Composite stayed close to their highest levels ever. This comes as investors get ready for a busy week filled with company earnings reports, economic updates, and key trade talks.
- S&P 500 rose 0.1% after closing at a record high of 6,363.35 the day before.
- Nasdaq Composite also gained 0.1%, reaching a new high of 21,057.96.
- Dow Jones Industrial Average increased by 82 points (0.2%), reaching 44,775.
However, some negative news affected the overall mood—like Intel’s disappointing earnings and a decline in global stock markets.
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Big Moves in Individual Stocks
- Intel shares fell more than 7% after the company reported losses and announced it will cut 25% of its core workforce. Intel is struggling to compete with Nvidia and AMD, which are doing well thanks to the growing demand for AI chips.
- Deckers Brands (owner of Ugg and Hoka) went up by over 13% after strong Q1 results showing a 17% rise in revenue to $965 million.
- Boston Beer Company (maker of Samuel Adams and Truly) rose 7.8% after its Q2 profits went up by 15%.
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Key Things to Watch
Investors are now focused on some major events:
- President Trump’s August 1 trade deal deadline: There’s hope that deals will be made to avoid new tariffs, which would help control inflation and support economic growth.
- Federal Reserve’s meeting next week: While Trump wants interest rates to be cut, experts think the Fed will keep rates the same for the fifth time in a row.
- US jobs data: Several reports about the labor market, including monthly job numbers, will be released soon and could affect market trends.
Global Market Snapshot
- Asia: Japan’s Nikkei fell 0.9%, Hong Kong’s Hang Seng dropped 1.1%, and Shanghai Composite lost 0.3%. South Korea’s Kospi rose 0.2%, and Australia’s ASX 200 fell 0.5%.
- Europe: The DAX (Germany) fell 0.8%, FTSE 100 (UK) dropped 0.4%, and CAC 40 (France) declined 0.1%.
Oil, Currency, and Global Trade
- Brent crude rose slightly to $68.63 per barrel.
- US WTI crude went up to $66.30.
- US Dollar strengthened to 147.65 yen, and the Euro dropped slightly to $1.1723.
What’s Driving the Market?
Markets have been rising lately due to hopes that President Trump’s trade talks with countries like China, Japan, and the EU will lead to lower tariffs.
Also, investors are optimistic because of strong AI-related earnings and the possibility that interest rates will remain steady.
ING Economics said that markets will be watching closely to see if there are any changes to trade tariffs or positive signals from upcoming negotiations.
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