S&P 500 and Nasdaq notch record high closes, lifted by Alphabet
Google-parent Alphabet (GOOGL.O), opens new tab rallied ahead of its quarterly report on Wednesday. It and Tesla (TSLA.O), opens new tab, also reporting on Wednesday, kick off earnings from the so-called "Magnificent Seven", and their results may set the tone for other heavyweight companies reporting in the next several days.
Apple (AAPL.O), opens new tab and Amazon (AMZN.O), opens new tab each gained and helped lift the S&P 500.
Verizon (VZ.N), opens new tab rallied after the telecommunications company boosted its annual profit forecast.
Analysts on average expected S&P 500 companies to report a 6.7% increase in earnings for the second quarter, with Big Tech driving much of that gain, according to LSEG I/B/E/S.
"So far, companies that have reported have, in general, met or beat guidance from the prior quarter, and we haven't seen any degradation either in corporate profits or consumer spending," said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis.
With U.S. President Donald Trump's August 1 tariff deadline approaching, the S&P 500 (.SPX), opens new tab is up about 8% year to date, with investors betting the economic damage from tariffs will be less than feared.
U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States could secure a trade deal with the European Union, even as EU members explored possible countermeasures against the United States.
Trump has threatened 30% tariffs on imports from Mexico and the EU, and sent letters to other trading partners, including Canada, Japan and Brazil, setting tariffs ranging from 20% to 50%.
According to preliminary data, the S&P 500 (.SPX), opens new tab gained 9.63 points, or 0.15%, to end at 6,306.42 points, while the Nasdaq Composite (.IXIC), opens new tab gained 82.99 points, or 0.40%, to 20,978.64. The Dow Jones Industrial Average (.DJI), opens new tab fell 3.08 points, or 0.01%, to 44,339.11.
Investors focused on how tariff uncertainty is impacting the U.S. economy will scrutinize jobless claims data and the July business activity report, expected on Thursday.
They will also watch a speech by Federal Reserve Chair Jerome Powell on Tuesday for clues about when the Fed might cut interest rates, especially after mixed inflation signals last week.
Traders have largely ruled out a July rate cut, and they now see a greater than 50% chance the Fed will cut by its September meeting, according to CME Group's FedWatch tool.
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US LNG producers soar as EU agrees to $750 billion in energy purchases
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Here's everything you need to know about Chelsea's summer transfer plans. Arrivals & areas to improve The first port of call for Chelsea this summer was a new winger, as the club decided not to make the deal for Manchester United loanee Jadon Sancho permanent. The signing of Jamie Gittens means they have a direct replacement for Sancho, though the departure of Noni Madueke means the club may decide to dip back into the market for another wing profile. Cole Palmer may have shown his attacking quality in the Club World Cup final, scoring two of Chelsea's goals, though he lacked consistency over recent months – highlighted by the fact that he scored just once in the last 20 games of the 2024/25 term – and he clearly needs some help carrying the goalscoring and creative burden. The purchases of Liam Delap and Joao Pedro should go some way to doing just that, with Pedro especially already showing his worth during the Club World Cup. Elsewhere, a bolstering of their goalkeeping ranks could be in order, with a new central defender potentially required if transfers out of the club fall into place. Done deals Ins: Joao Pedro (Brighton, £60m), Jamie Gittens (Borussia Dortmund, £48.5m), Liam Delap (Ipswich Town, £30m), Estevao (Palmeiras, £29m), Dario Essugo (Sporting Lisbon, £18.5m), Kendry Paez (Independiente, £17.5m), Mamadou Sarr (Strasbourg, £11.9m) Outs: Noni Madueke (Arsenal, £48.5m), Djordje Petrovic (Bournemouth, £25m) Kepa Arrizabalaga (Arsenal, £5m), Jadon Sancho (Manchester United, end of loan), Bashir Humphreys (Burnley, £14.7m), Marcus Bettinelli (Manchester City, nominal fee), Mathis Amougou (Strasbourg, undisclosed), Lucas Bergstrom (out of contract), Mike Penders (Strasbourg, loan) Potential targets Xavi Simons, RB Leipzig Chelsea have reportedly stepped up their pursuit of Leipzig sensation Xavi Simons. 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Get AirPods for £70 less than Apple and Amazon with rare Wowcher deal
Apple fans can save money on a new pair of AirPods Apple AirPods are often considered one of the best wireless earphones money can buy for iPhone users, but they often come with a big cost. In a new offer, deals site Wowcher is offering a much cheaper price for the pair. The AirPods Gen 3 are being sold for £99 on Wowcher, that's £70 cheaper than Apple's original £169 launch price. They have immersive spacial audio - so the sound will stay equal when you move around. This creates a more immersive experience for the listener as the audio level dynamically adjusts. Despite not being the newest Apple AirPods 4, launched last year, the pair have a handful of quality features. Including a decent battery of up to 30 hours playtime, smooth Bluetooth pairing between Apple devices, and IPX4 rating - which means they are sweat and water resistant. There is one thing to note, the pair are refurbished and come packaged in a A++ condition, however they have not been worn before and instead are from returned, opened boxes. As Wowcher states: "Grade A++ (Very Good). These are unused products that were opened by a customer and returned to Apple. "Close to pristine—with only minor blemishes visible upon close inspection. Functionality is fully intact." Another note of the condition, is that the tech 'won't arrive in Apple packaging', something which is also outlined by Wowcher. This specific model of AirPods was launched in 2021, so they are three years old, but that doesn't mean they scrimp on capabilities. The wireless pair is still supported by MagSafe charging and has built-in microphones so users can take calls. However, a downfall is the lack of active noise-cancelling tech. This can be found on the newer 2024 AirPods Gen 4, which are now selling at Apple from £129. However, the active noise-cancelling pair starts at £179 at Apple or £149 at EE. For shoppers who'd prefer the AirPods Gen 3 but a pair that hasn't been returned by previous shoppers, Amazon is an option. The retailer is selling the AirPods Gen 3 for £167. This may be over some shoppers budgets, and if so there are cheaper wireless pairs to look at. The first is another budget Amazon find, the Bluetooth 5.4 earphones for £21, and while not a brand many may have heard of I have tested them out before. Rating them 'as good as big name brands' this is what I said: "They'll never be able compete with the likes of Galaxy Buds, Pixel Buds, Bose headphones, or Apple's newest AirPods Gen 4 - and by no means am I trying to say that - but for the price I have found these to be a bargain. "Perfectly suited for basic listening. And the sound quality has been surprisingly good, considering. The Btootos A90 True Wireless Earbuds are an ideal choice for casual listening, targeting users who desire good sound quality, comfort and wireless charging. "I've worn these while working from home and travelling on the tube and long-haul flights when I haven't wanted to take my Bose headphones with me." Another option is over at Argos, as it stocks the affordable JLab Go Air for £19.99. Despite the much cheaper price, these have a combined playtime of up to 24-hours. And similar to Apple AirPods, users can connect to an individual earbud, if they only want to wear one at a particular time, using the Dual Connect feature.
