logo
US stocks end mixed; GM slumps as tariffs bite

US stocks end mixed; GM slumps as tariffs bite

Time of India4 days ago
Wall Street shares ended mixed on Tuesday, with steep losses in General Motors and a gain in Tesla as investors focused on recent and upcoming quarterly reports and watched for signs of progress in U.S.
trade discussions
. GM tumbled after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy. Shares of Ford Motor also fell. Tesla climbed a day before its quarterly report, while Alphabet, also reporting on Wednesday, also rose.
Optimism about heavy spending on artificial intelligence has underpinned a rally in Wall Street's most valuable companies, with the S&P 500 trading around record highs.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Data Science
Data Science
Finance
healthcare
Cybersecurity
Others
PGDM
MBA
CXO
Public Policy
Project Management
Product Management
Operations Management
MCA
Digital Marketing
Healthcare
Artificial Intelligence
Management
Leadership
Degree
Design Thinking
others
Technology
Data Analytics
Skills you'll gain:
Duration:
11 Months
E&ICT Academy, Indian Institute of Technology Guwahati
CERT-IITG Postgraduate Cert in AI and ML India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
10 Months
E&ICT Academy, Indian Institute of Technology Guwahati
CERT-IITG Prof Cert in DS & BA with GenAI India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
11 Months
IIT Madras
CERT-IITM Advanced Cert Prog in AI and ML India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
30 Weeks
IIM Kozhikode
SEPO - IIMK-AI for Senior Executives India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
10 Months
IIM Kozhikode
CERT-IIMK DABS India
Starts on
undefined
Get Details
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Access all TV channels anywhere, anytime
Techno Mag
Learn More
Undo
"The market is consolidating recent gains and is in a bit of a holding pattern with some huge catalysts over the next week or two, including the August 1 tariff deadline and a lot of important Magnificent Seven earnings," said Ross Mayfield, an investment strategy analyst at Baird.
Other Big Tech stocks lost ground, with Meta Platforms and Microsoft both closing lower. Shares of RTX dropped after the aerospace and defense giant took a hit from Trump's trade war despite strong demand for its engines and aftermarket services. Lockheed Martin tumbled after its quarterly profit plunged by about 80%.
U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed August 1 deadline for many countries to reach agreements with the White House approaches. U.S. Treasury Secretary Scott Bessent said he would meet his Chinese counterpart next week to discuss an extension to the August 12 deadline set for tariffs on imports from China. Other trade negotiations appeared stalled, with optimism for a breakthrough deal with India waning and EU officials weighing countermeasures against the United States.
Live Events
According to preliminary data, the S&P 500 gained 4.30 points, or 0.07%, to end at 6,309.90 points, while the Nasdaq Composite lost 81.24 points, or 0.39%, to 20,892.93. The Dow Jones Industrial Average rose 175.77 points, or 0.40%, to 44,498.84. Philip Morris slumped after reporting second-quarter revenue below expectations, as shipments of its ZYN nicotine pouches disappointed investors.
Analysts on average expected S&P 500 companies to report a 7% increase in earnings for the second quarter, with technology heavyweights driving much of that gain, according to LSEG I/B/E/S.
After last week's mixed economic data, traders have all but ruled out an interest-rate cut from the U.S. Federal Reserve at next week's policy meeting. They now see about a 60% chance of a reduction in September, according to the CME's FedWatch tool.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

What is Barron Trump's NYU Stern tuition cost? For the Trumps, just a drop in a $6 billion ocean
What is Barron Trump's NYU Stern tuition cost? For the Trumps, just a drop in a $6 billion ocean

Hindustan Times

time38 minutes ago

  • Hindustan Times

What is Barron Trump's NYU Stern tuition cost? For the Trumps, just a drop in a $6 billion ocean

Since enrolling at New York University last fall, Barron Trump has found himself under a curious kind of spotlight. Being the youngest child of Donald Trump, his every move draws attention. Barron Trump, now a student at NYU's Stern School, faces a unique college experience due to his father's wealth and constant Secret Service presence. (AP Photo/Marta Lavandier)(AP) Donald Trump recently spoke with the Daily Mail about Barron's college decision. He shared that his son had options, but they chose the Stern School of Business at NYU. 'He's a very smart guy, and he'll be going to Stern, the business school, which is a great school at N.Y.U.,' Trump said. 'I went to Wharton, and that was certainly one that we were considering. We didn't do that. We went for Stern,' he added. ALSO READ| Barron Trump and Sasha Obama: Are the dating rumors true? 'We liked NYU. I've known NYU for a long time, it's one of the highest-rated,' Trump said, referring to the QS Global MBA Rankings 2025, which placed Stern 11th in the U.S. and 17th globally. In front of Trump's net worth, Barron's tuition fees is just a footnote There was a 25 per cent acceptance rate for the MBA Class of 2026, and only 352 students went full-time. Just the tuition will set you back $86,916, and when you add in the costs of books, housing, etc., the price is well over $100,000 the first year, per the Stern MBA website. While many students rely on scholarships to manage the steep fees, Barron won't need one. Thanks to Trump's estimated net worth of over $6 billion, which has fluctuated dramatically over the past year, from $2.5 billion in early 2024 to a post-election high of $6.5 billion. Classmates describe Barron as an 'oddity,' largely due to the Secret Service presence that surrounds him at all times. One of Barron's friends at Oxbridge Academy told The Daily Mail earlier that the youngest Trump does not eat lunch altogether. ALSO READ| NYU professor says Barron Trump 'doesn't belong' as he nears end of first semester 'Barron always went to the lunchroom to sit with his friends, but he never ate any lunch. He never specifically said why, just that he would wait until he got home to eat. It was a little unusual,' the friend shared.

Company founded by the man called Donald Trump's guy in Silicon Valley hits another milestone, after beating IBM and Cisco in market cap
Company founded by the man called Donald Trump's guy in Silicon Valley hits another milestone, after beating IBM and Cisco in market cap

Time of India

timean hour ago

  • Time of India

Company founded by the man called Donald Trump's guy in Silicon Valley hits another milestone, after beating IBM and Cisco in market cap

Peter Thiel America has a new entrant in the list of most-valuable companies. And it is Peter Thiel 's defence technology company Palantir Technologies . This week, Palantir hit another major milestone in its meteoric stock rise seen in 2025. The company is now one of the 20 most valuable US companies, achieving a market capitalization of $375 billion. The provider of software and data analytics technology to defense agencies saw its stock rise more than 2% on Friday, July 25, to another record, taking the company's market cap above $350 billion, which puts it ahead of Home Depot and Procter & Gamble. With this, Palantir is now also bigger than Bank of America and Coca-Cola in market value. Earlier this year, Palantir soared ahead of Salesforce, IBM and Cisco into the top 10 U.S. tech companies by market cap. Peter Thiel, Donald Trump's Man in Silicon Valley The Denver-based Palantir Technologies was founded in 2003 by Peter Thiel and CEO Alex Karp, and others. Palantir co-founder Peter Thiel has been one of the most vocal supporter of Donald Trump during his 2024 Presidential campaign. Thiel is popularly known as the far-right billionaire investor. Not just in 2024, In the 2016 election too, Thiel eagerly embraced his role as the public face of support for Donald Trump from the tech sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After Losing Weight Kevin James Looks Like A Model 33 Bridges Undo A prominent conservative donor, he has reportedly contributed significant funding and public endorsements, aligning Palantir's strategic interests with a potential Trump administration. This political alignment has sparked speculation about further government contracts, boosting investor confidence in Palantir's growth trajectory. In 2025, the company's stock more than doubled, driven by investor enthusiasm for its artificial intelligence capabilities and deepening ties with the U.S. government. Revenue in Palantir's U.S. government business increased 45% to $373 million in its most recent quarter, while total sales rose 39% to $884 million. The company next reports results on August 4. With $3.1 billion in total revenue over the past year, Palantir is a fraction the size of the next smallest company by sales among the top 20 by market cap. Mastercard, which is valued at $518 billion, is closest with sales over the past four quarters of roughly $29 billion.

Bad news for NASA employees as Trump administration forced 3870 workers to...
Bad news for NASA employees as Trump administration forced 3870 workers to...

India.com

timean hour ago

  • India.com

Bad news for NASA employees as Trump administration forced 3870 workers to...

New Delhi: Washington: 3,870 employees will lose their jobs from the US space agency National Aeronautics and Space Administration (NASA). These employees are going to resign under the Voluntary Resignation Program. Why did these employees resign? US President Donald Trump's administration has launched a programme to reduce the number of employees to cut the budget. Under this, employees have been asked to resign on their own instead of being fired from NASA. To comply with the Trump administration's goal of reducing the federal workforce, space agency NASA officials are taking the path of resignation to avoid layoffs. NASA is world's most prominent space agency. What did NASA say about resignations? At present, 3,870 employees have resigned from NASA. However, NASA has said in its statement on Friday, July 25, that this number may change after reviewing the applications. NASA has given employees two separate opportunities to leave the job in 2025. After both resignation programmes and about 500 people leaving their jobs in general, NASA will be left with about 14,000 employees. This is the second round of resignations The first round of resignations at NASA came in the early part of the Trump administration. This effort was driven by the government efficiency department DOGE led by Elon Musk. NASA launched its second round of deferred resignations in early June, giving a chance to join it till July 25. The agency said that 3,000 employees accepted it, which is 16.4 percent of the total workforce. NASA issues statement NASA has said in its statement that safety is our top priority. Along with becoming a more efficient organization, we are also ensuring that our capabilities for missions like Moon and Mars remain fully intact. However, experts believe that such a huge reduction in the number of employees may harm NASA's future missions and technical expertise.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store