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Yahoo
16 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq slide as Wall Street eyes earnings, trade tensions
US stocks slipped on Tuesday as investors digested the latest wave of corporate earnings and various tariff updates. The benchmark S&P 500 (^GSPC) slid 0.4%, while the blue-chip Dow Jones Industrial Average (^DJI) also fell about 0.3%. The Nasdaq Composite (^IXIC) was down around 0.5%. Palantir (PLTR) stock jumped about 8% in early trading after the company's earnings report beat expectations and revealed its revenue had topped $1 billion in a quarter for the first time. On Monday, stocks sharply rebounded after tanking on Friday in the aftermath of a number of market-shaking events, including a weak jobs report, fresh tariffs, new signs of rising prices, and President Trump's firing of the commissioner of the Bureau of Labor Statistics. Meanwhile, Trump continued to amp up pressure on trade Monday, threatening to hike tariffs on India. Separately, in a Tuesday morning interview with CNBC, Trump said pharmaceutical imports could see tariffs of up to 250%. Trump also ruled out Treasury Secretary Scott Bessent as a potential incoming Fed chair, but noted that Jerome Powell's successor could be named "soon." Read more: The latest on Trump's tariffs Wall Street is now focused on the continuation of earnings season. On Tuesday, AMD (AMD) and Rivian (RIVN) are set to report their results. McDonald's (MCD) and Disney (DIS) earnings land Wednesday. However, another trade blow looms later in the week, with Trump's latest iteration of global tariffs set to take effect. Hims & Hers stock slides 6% after second quarter revenue misses forecasts Yahoo Finance's Jake Conley reports: Hims & Hers Health (HIMS) stock fell as much as 6% early Tuesday after the company reported revenue late Monday that fell shy of Wall Street forecasts while maintaining its full-year forecast. The telehealth company posted revenue of $544.8 million in the second quarter, marking a 73% increase year over year but missing analyst estimates for $552 million, according to Bloomberg data. Hims & Hers maintained its full-year revenue guidance of $2.3 billion to $2.4 billion. Earnings per share topped forecasts, coming in at $0.17 against expectations for $0.15. Read more here. PMI data points to "encouragingly robust' economic activity to start the third quarter Activity in the services continued to expand during the month of July according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.1, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, July registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Trump rules out Bessent as next Fed chair, says may name Powell replacement soon Yahoo Finance's Jennifer Schonberger and Myles Udland report: President Trump said Tuesday morning that the pool of potential nominees to succeed Federal Reserve Chair Jerome Powell is down to four people, and that Treasury Secretary Scott Bessent will not be nominated for the role. "The two Kevins are doing well, and I have two other people that are doing well," Trump said in an interview with CNBC on Tuesday. The "two Kevins" are in reference to former Fed governor Kevin Warsh and Kevin Hassett, director of the National Economic Council. Asked about Fed Governor Chris Waller and Secretary Bessent, Trump didn't deny that Waller was among the four possible replacements for Powell, but did say that Bessent does not want the job. "I love Scott, but he wants to stay where he is," Trump said. Read more here. Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Palantir stock surges on Q2 beat and raise Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Wall Street 2025 bonuses: Winners and losers so far Yahoo Finance's David Hollerith reports: Read more here. Good morning. Here's what's happening today. Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. One key reason a slowing economy isn't shaking stock market bulls Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Oil flattened from multi-day drop after Trump's India rebuke Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. Hims & Hers stock slides 6% after second quarter revenue misses forecasts Yahoo Finance's Jake Conley reports: Hims & Hers Health (HIMS) stock fell as much as 6% early Tuesday after the company reported revenue late Monday that fell shy of Wall Street forecasts while maintaining its full-year forecast. The telehealth company posted revenue of $544.8 million in the second quarter, marking a 73% increase year over year but missing analyst estimates for $552 million, according to Bloomberg data. Hims & Hers maintained its full-year revenue guidance of $2.3 billion to $2.4 billion. Earnings per share topped forecasts, coming in at $0.17 against expectations for $0.15. Read more here. Yahoo Finance's Jake Conley reports: Hims & Hers Health (HIMS) stock fell as much as 6% early Tuesday after the company reported revenue late Monday that fell shy of Wall Street forecasts while maintaining its full-year forecast. The telehealth company posted revenue of $544.8 million in the second quarter, marking a 73% increase year over year but missing analyst estimates for $552 million, according to Bloomberg data. Hims & Hers maintained its full-year revenue guidance of $2.3 billion to $2.4 billion. Earnings per share topped forecasts, coming in at $0.17 against expectations for $0.15. Read more here. PMI data points to "encouragingly robust' economic activity to start the third quarter Activity in the services continued to expand during the month of July according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.1, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, July registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Activity in the services continued to expand during the month of July according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.1, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, July registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Trump rules out Bessent as next Fed chair, says may name Powell replacement soon Yahoo Finance's Jennifer Schonberger and Myles Udland report: President Trump said Tuesday morning that the pool of potential nominees to succeed Federal Reserve Chair Jerome Powell is down to four people, and that Treasury Secretary Scott Bessent will not be nominated for the role. "The two Kevins are doing well, and I have two other people that are doing well," Trump said in an interview with CNBC on Tuesday. The "two Kevins" are in reference to former Fed governor Kevin Warsh and Kevin Hassett, director of the National Economic Council. Asked about Fed Governor Chris Waller and Secretary Bessent, Trump didn't deny that Waller was among the four possible replacements for Powell, but did say that Bessent does not want the job. "I love Scott, but he wants to stay where he is," Trump said. Read more here. Yahoo Finance's Jennifer Schonberger and Myles Udland report: President Trump said Tuesday morning that the pool of potential nominees to succeed Federal Reserve Chair Jerome Powell is down to four people, and that Treasury Secretary Scott Bessent will not be nominated for the role. "The two Kevins are doing well, and I have two other people that are doing well," Trump said in an interview with CNBC on Tuesday. The "two Kevins" are in reference to former Fed governor Kevin Warsh and Kevin Hassett, director of the National Economic Council. Asked about Fed Governor Chris Waller and Secretary Bessent, Trump didn't deny that Waller was among the four possible replacements for Powell, but did say that Bessent does not want the job. "I love Scott, but he wants to stay where he is," Trump said. Read more here. Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Palantir stock surges on Q2 beat and raise Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Wall Street 2025 bonuses: Winners and losers so far Yahoo Finance's David Hollerith reports: Read more here. Yahoo Finance's David Hollerith reports: Read more here. Good morning. Here's what's happening today. Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. One key reason a slowing economy isn't shaking stock market bulls Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Oil flattened from multi-day drop after Trump's India rebuke Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. 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Yahoo
16 minutes ago
- Yahoo
Stocks Are Soaring — But the Dollar's Sinking. What Smart Investors Are Doing Right Now
The U.S. Dollar is weakening, and this could affect your portfolio. While the S&P 500 just hit fresh highs, the fact that it comes with international currencies getting stronger may be of concern to U.S. investors. Trending Now: Check Out: But smart investors are leveraging a different investment approach that can protect against a sharp downturn in U.S. dollar value. GOBankingRates reviews what investors can do to make sure they can keep their portfolios in shape. Why Is the U.S. Dollar Losing Value? In short, the U.S. dollar has been losing value to other strong global currencies (such as the Euro) due to Trump tariffs. With an increase in tariffs on imported goods to the U.S., foreign investors have backed off on purchasing U.S. Treasuries. Even with strong yields, the U.S. recently saw a drop in its overall credit rating, stoking fears of the ability for the U.S. to pay interest on the issued Treasuries, as reported by NBC News. Combined with potential inflation and economic growth slowing due to high tariffs, investors are pivoting away from U.S. Treasury investments, causing the dollar to lose over 10% of its value compared to other global currencies. With the dollar losing value, this can cause inflationary pressures and may indicate lower-than-expected returns in U.S. equity markets going forward. Consider This: What Investments Help Protect Your Portfolio? If a declining U.S. dollar points to lower equity returns, what should investors be doing to protect their portfolios? First, it's important to note that while the U.S. dollar is weakening in 2025, historically it has held its value globally, and is stronger today than it was just a decade ago (in many countries). A short-term drop in the value of the U.S. Dollar doesn't mean it's going to be weak forever, and making long-term investment decisions based on short term drops in value may not be the best approach. That being said, investors that do expect this trend to continue, and expect lower returns on U.S. equities in the coming months (or even years), can hedge against a weak dollar in several ways. Foreign equities: While high tariffs have hurt U.S. businesses and the U.S. dollar, foreign equities are still seeing strong growth. In fact, ex-U.S. equity indices have outperformed U.S. indices in 2025 so far by nearly 10%. Investing globally instead of in just U.S.-based companies can help you protect from slow growth in the U.S. Commodities: Commodities (such as agriculture, metals and energy stocks) can help hedge against a weaker U.S. dollar. As the dollar weekend, commodities become 'cheaper' to foreign investors, which could increase demand. This can push the price higher, even as the U.S. dollar drops in value. Gold: Gold is a timeless 'safe haven' asset that helps preserve purchasing power over time. In uncertain and inflationary markets, Gold tends to rise in value. As the U.S. dollar weakens, Gold could continue to grow in value due to increased demand for assets that hold their value, independent of fiat currencies. Upsides of a Weaker U.S. Dollar Hedging your portfolio against a weakening U.S. dollar can help protect your investments, but there may also be a few upsides to a devaluing of the U.S. Dollar globally. As the U.S. Dollar weakens against foreign currencies (like the Euro), this effectively lowers the price of U.S. goods to foreign inventors. This may increase demand for U.S. goods, which can help boost the economy. Plus, owning U.S. stocks at today's dollar prices can be a good investment. As foreign investors can purchase more U.S. stocks for less of their local currency, this can push prices of U.S. stocks up. And if you own an inflation hedge asset like real estate (with a mortgage), you're paying down your future home payments with less valuable U.S. Dollars. This is effectively a discount on your mortgage payments by the decline in value of U.S. Dollars each year. More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on Stocks Are Soaring — But the Dollar's Sinking. What Smart Investors Are Doing Right Now Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
17 minutes ago
- Business Wire
Vedanta's Q1 Adjusted Profit Surges 10% to $584 Million
MUMBAI, India--(BUSINESS WIRE)--India based, Vedanta Limited (BSE: 500295 & NSE: VEDL), the country's leading critical minerals, transition metals, energy & technology conglomerate announced its results for the first quarter ended 30 th June 2025 on 31 st July 2025. Vedanta delivered robust financials with adjusted PAT * jumping 10% year-on-year (YoY) to $ 584 million. The company clocked the highest ever first quarter EBITDA of $1.3 billion, up 2% YoY. Vedanta's EBITDA margin ** improved by 81 bps to 35% YoY, highest in the last 13 quarters. The company's consolidated revenue for Q1 stood at $4.4 billion, up 4% YoY. Vedanta's liquidity improved 29% YoY with cash and cash equivalent of $2.6 billion. The company's Return on Capital Employed (ROCE) improved by 87 bps YoY to 25%. Credit ratings for Vedanta were reaffirmed at AA by both CRISIL and ICRA. Prominent brokerages such as Citi, Investec, JP Morgan, Bank of America (BofA) have maintained their ratings and forecast strong earnings growth during FY26 and FY27 highlighting market confidence in Vedanta's growth story. Anil Agarwal - Chairman Vedanta, said, "Our Q1FY26 performance has set a strong foundation for the year ahead. Even amidst global market volatility, we delivered strong broad-based performance and long-term value creation." The company clocked record quarterly alumina production at 587 KT, up 9% YoY with lowest hot metal cost (ex-alumina) at 888 $/t in the last 16 quarters and overall aluminum cost of production lower by 12% QoQ. Vedanta's zinc operations in India achieved highest ever Q1 mined metal production and lowest Q1 cost of production at US$1,010/t. The company's international zinc operations witnessed a 50% YoY jump in mined metal production with overall cost of production at $1269/t. The company also recently commissioned 950 MW of merchant power capacity in its two thermal power plants in the eastern state of Chhattisgarh and southern state of Andhra Pradesh. About Vedanta: Vedanta is a global leader in critical minerals, transition metals, energy, and technology, with operations spanning India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan, and Japan. * PAT Adjusted for key one-offs: Cairn OALP Exploration cost written off (net of tax) in 1QFY26 and 4QFY25 and DTA of unutilized tax losses at ASI in 1QFY25
