
US stock market today: Wall Street pauses near record highs as earnings, inflation expectations take center stage
US stock market ends mixed as S&P 500 Flat After Fresh Record High, But Still Heads for Weekly Win- The S&P 500 touched a new all-time high on Friday before pulling back slightly, as investors reacted to a fresh round of corporate earnings and new U.S. economic data. By midday, the S&P 500 was trading just 0.1% higher, showing signs of caution even as the index aims to end the week on a positive note. The Nasdaq Composite also gained 0.1%, while the Dow Jones Industrial Average fell by 59 points, or 0.2%, weighed down by a post-earnings drop in American Express, which slid 3%. For the week, all three major indexes remain on track for gains, with the S&P 500 up 0.8%, the Nasdaq ahead by 1.8%, and the Dow adding 0.2%.
S&P 500 (SPY) edged down slightly by about 0.08%, hovering just below record highs, suggesting cautious investor sentiment.
Nasdaq (QQQ) also drifted down around 0.10%, despite strong earnings enthusiasm from big tech names.
Dow (DIA) slipped approximately 0.54%, weighed down by modest declines in industrial and financial stalwarts. The S&P 500's initial jump was driven by optimism around earnings and economic data. However, as traders digested the details, the market cooled. Despite hitting record territory, concerns around individual earnings reports and broader economic signals created a mixed trading mood.
American Express, a key component of the Dow, saw its shares fall 3% post-earnings, dragging the 30-stock index lower. Meanwhile, Netflix, even after reporting stronger-than-expected earnings, saw its stock drop 4%, showing how investors are reacting cautiously, even to good news. Netflix (NFLX) was one of the session's biggest losers, dropping over 5%, despite posting a second-quarter earnings beat and raising its full-year revenue guidance. Analysts pointed to Netflix's high valuation and noted that its results simply weren't enough to satisfy 'elevated expectations.' The stock, already up more than 40% year-to-date, faced pressure as investors hoped for a more bullish outlook. American Express (AXP) also fell sharply, down 3.3%, despite surpassing earnings and revenue estimates. While consumer spending remained resilient—rising 7% year-over-year—executives noted a slight pullback in discretionary areas like travel. The company left its full-year guidance unchanged, which some investors saw as too conservative given current trends.
On the flip side, Charles Schwab (SCHW) gained nearly 2% after posting a 50% year-over-year jump in adjusted profits. The brokerage benefited from increased trading activity driven by market volatility linked to tariff-related headlines.
Industrial heavyweight 3M (MMM) also posted solid gains, rising more than 2.5% after beating second-quarter earnings and raising its full-year outlook—helped by stable demand and cost controls.
A surprise standout was Circle (CRCL), which rose over 3% intraday following the passage of the Genius Act, a groundbreaking stablecoin regulation bill. Analysts at Seaport Research raised their price target from $235 to $280, calling Circle the 'purest stablecoin play' in the market. Since its IPO last month, Circle's stock has surged over 600%. Tesla (TSLA) led the way with a +3.4% jump, boosting the tech-heavy Nasdaq and overall market optimism.
led the way with a jump, boosting the tech-heavy Nasdaq and overall market optimism. Charles Schwab (SCHW) also surged +3.4% , fueled by strong quarterly profit growth .
also surged , fueled by strong quarterly profit growth . Norfolk Southern (NSC) climbed ~2.9–3% on news of potential merger talks.
climbed on news of potential merger talks. Utilities sector stocks led S&P sectors, rallying 1.7% on average.
led S&P sectors, rallying on average. Chevron and Hess saw notable gains—Chevron rose on a legal win, and Hess jumped around 7.6% . Other notable movers: Robinhood (+4.7%) and Coinbase (+6.4%) surged following crypto-related legislative news, and Talen Energy spiked around 15%+ in premarket trading on acquisition news Apple (AAPL) was flat, with a modest uptick of +0.14% .
was flat, with a modest uptick of . Nvidia (NVDA) edged slightly lower, down about 0.2% intraday. These gains reflect broad strength across sectors today—tech and velocity boosts from Tesla and crypto, plus energy and utilities pushing forward. Nvidia continued its rally, inching up another 0.3%, maintaining its upward momentum that's helped lift the tech-heavy Nasdaq. Tesla also saw a solid 3% gain, while Alphabet and Amazon edged higher. Elsewhere, PepsiCo and United Airlines jumped earlier in the week after both beat earnings estimates, reflecting strong consumer demand and operational efficiency. Big banks like JPMorgan and Goldman Sachs also posted impressive numbers, adding support to the overall market tone. So far, around 60 companies in the S&P 500 have released second-quarter earnings. According to data, 86% of them have surpassed analyst expectations, giving bulls more reason to stay optimistic. American Express (AXP) fell around 3% after its earnings report failed to impress investors despite meeting expectations.
fell around after its earnings report failed to impress investors despite meeting expectations. Netflix (NFLX) dropped about 4% , even though it posted better-than-expected earnings, as guidance and subscriber growth disappointed some traders.
dropped about , even though it posted better-than-expected earnings, as guidance and subscriber growth disappointed some traders. 3M (MMM) saw a slight decline despite reporting an earnings beat, as future outlook concerns weighed on sentiment.
saw a slight decline despite reporting an earnings beat, as future outlook concerns weighed on sentiment. Biotech and healthcare stocks also underperformed, with select names dipping due to weak trial updates or lukewarm guidance.
also underperformed, with select names dipping due to weak trial updates or lukewarm guidance. Travel-related stocks like some cruise lines and airlines edged lower after recent rallies, likely from profit-taking. Overall, while the broader market held steady, these names faced pressure due to earnings reactions or sector-specific weakness. Fed Governor Christopher Waller made headlines with his strongest call yet for a July rate cut. Speaking in New York, Waller argued the central bank should lower its policy rate by 125–150 basis points, bringing it down to 3%. He said any inflation stemming from Trump's tariffs would likely be temporary and shouldn't prevent action. Waller, seen as a potential successor to Fed Chair Jerome Powell, added in a Friday interview that if President Trump offered him the top Fed job, he would accept—though he clarified that Trump 'has not contacted me.' Yes, the latest economic data suggests the U.S. economy remains resilient. Strong GDP growth projections and signs of cooling inflation have helped reinforce investor confidence. 'It's a risk-on environment,' said Ken Mahoney, CEO at Mahoney Asset Management. He added, 'While there's chatter about Fed rate cuts, the reality is more nuanced. Historically, markets tend to perform better without cuts. But with inflation easing and GDP growth holding, there's a valid case for a different outcome this time.' Earnings were a key driver of the weekly rally. With a high percentage of companies beating expectations, confidence in corporate fundamentals remains strong. Investors were encouraged by the strength of sectors ranging from consumer goods to airlines and tech. The S&P 500's 0.8% weekly gain reflects that positive sentiment, even if Friday's moves were muted. The Nasdaq's 1.8% rise was boosted by mega-cap techs, while the Dow's modest 0.2% gain shows mixed reactions in industrials and financials. As more companies continue to report earnings, attention will shift to forward guidance and commentary around inflation, consumer demand, and potential Fed policy. With rate cut discussions still in play and economic data continuing to roll in, markets could remain volatile. Key themes for next week will include: How tech giants perform in the next wave of earnings
More clarity on Fed's stance in upcoming meetings
Inflation indicators and employment data Investors are still in a 'wait and see' mode, but so far, the combination of strong earnings, economic stability, and tech leadership is keeping the rally intact. Q1: Why did the S&P 500 hit a record high this week? Because strong earnings and solid U.S. economic data boosted investor confidence.
Q2: Which stocks helped push the Nasdaq higher? Tech giants like Tesla, Nvidia, Alphabet, and Amazon supported the Nasdaq's gains.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
40 minutes ago
- Mint
The case for taking mini retirements along the way in your career
Calli Brannan, 30, had been working for a grocery deals app for four years when she realized she needed a break. The start-up had grown since she joined, she was satisfied with what she had accomplished as vice president of customer success, and she was about to plan her wedding. A few weeks of paid time off weren't going to cut it; she needed to step away from her career to regroup. 'It was a bit of a risk but I knew I needed to take this time if I wanted to be able to continue on in corporate or start-ups or start my own business," said Brannan of Royal Oak, Mich. 'I was ready for my next step." She is now a little over a month into a sabbatical that she plans to extend into fall. Brannan isn't alone. Many millennial and Gen Z workers are opting to take a temporary step back from their jobs for as long as months at a time. The trend has been dubbed 'mini-" and 'micro-retirements" or simply sabbaticals. Social media is filled with young professionals talking about voluntarily quitting their jobs, asking for unpaid time off or taking a long pause before job hunting after a layoff. One in 10 Americans are planning one of these breaks in 2025, according to a survey of 1,000 workers from job board The problem: The average micro-retiree doesn't have as strong a financial plan in place as they should before taking a step back from work, says financial coach Annie Cole, who has worked with people taking these career breaks. She is founder of the resource website Money Essentials for Women. 'When not planned well, you're going to feel the pain not only way down the road in your financial future but potentially a year or two from now," Cole says. 'If you pull a lot of money from your investments to have this fun moment and then you come back a year later and are suddenly going to have to work five to 10 more years to make up for that, that's a huge reality check moment that's going to cause a lot of shock and pain." Burning through money for your retirement—especially when it is decades away—can be tempting when you are desperate for a break. It isn't a great idea. Missing just a few of the market's best days can take a massive chunk out of your savings: A $10,000 investment in the S&P 500 would have grown to $71,750 between Jan. 3, 2005 and Dec. 31, 2024 if it stayed fully invested, but just $32,871 if it missed the market's 10 best days and $12,948 if it missed the 30 best days, according to J.P. Morgan Asset Management's Guide to Retirement. Add to this the taxes and penalties you face from yanking money early from retirement savings accounts like 401(k)s, and it's clear why you should avoid going this route. But it's also possible to stay more or less on track with your contributions, despite taking time off. Linda To Yonemoto, 38, had been working in marketing for 14 years when she was wrestling with the death of her grandfather and dog, as well as her own near-death experience during open abdominal surgery, and decided she needed a break. Yonemoto, who is based in Las Vegas, revved up her savings so she could max out her 401(k) retirement contributions in 2023 before she took off for a four-month trip across Southeast Asia and an eight-month break in the U.S. 'It gave me a lot of peace of mind," Yonemoto says. She now has saved and invested enough so that she could retire permanently if she wanted to. Taylor Anderson, a financial advisor in Vancouver who works with workers taking sabbaticals, says that a lot of people focus on budgeting to cover their living expenses during their time away from work. But she says that it is equally important to take a long-term view, taking advantage of tax-savings opportunities and saving in multiple accounts. That could include having your sabbatical span two tax years so that there is income in both years, making you still eligible to contribute to IRAs and Roth IRAs but with a lower tax bracket due to the lower income. It can also include converting pretax savings to a Roth IRA at a lower tax rate, Anderson adds. Or you might rebalance after-tax accounts with concentrated positions by selling winners and paying lower capital-gains during a period of low income. She says it also is essential to have a buffer in your budget for the time away, especially if you are traveling, since unexpected expenses will come up. She learned this the hard way after a career in information technology consulting during her own 'mini retirement"—which included 20 months as a volunteer in Kyrgyzstan with the Peace Corps and six months of traveling. She had to lay out $1,000 for an unplanned helicopter flight necessary to get out of the mountains in Nepal due to a cancelled flight that left her with the choice of waiting days for open seats on another flight or hiking for four days. Anderson, who was 29 when she started her sabbatical in 2013, also recommends saving enough for three- to six-months' worth of expenses for your re-entry back into the job market, since it can often take longer than you think to find a new gig. Brannan prepared for her time off while staying on track for a more permanent retirement down the line by selling a house she had been renting out in Florida to make sure her expenses would be less once she wasn't working (the money she was making by renting the house didn't cover the mortgage). 'I want to join the workforce again with that renewed excitement and dedication so I can grow my savings and retire permanently as soon as possible," she says. Write to editors@


Time of India
42 minutes ago
- Time of India
‘Tesla is not allowed to test or transport the public in…': California regulators after Elon Musk 'teases' robotaxi expansion plans
The California Public Utilities Commission (CPUC) has said that Tesla is 'not allowed to test or transport the public' in autonomous vehicles within the US state, a report claims. Tired of too many ads? go ad free now This comes after CEO of the electric vehicle maker, , reportedly teased expansion plans for the company's robotaxi service to the San Francisco Bay Area and other US markets. The latest statement from the state's regulator clarifies that any Tesla service in California would require a human driver. In an email sent to CNBC, CPUC wrote: 'Tesla is not allowed to test or transport the public (paid or unpaid) in an AV with or without a driver. Tesla is allowed to transport the public (paid or unpaid) in a non-AV, which, of course, would have a driver.' This means any service provided by Tesla in California must operate more like a traditional taxi service than a fully autonomous one. According to the report, Tesla currently holds a charter-party carrier permit in California, which allows it to operate a private car service with human drivers. The CPUC confirmed receiving a notification from Tesla recently about its plan to 'extend operations' under this permit to 'offer service to friends and family of employees and to select members of the public' across much of the Bay Area. However, the commission highlighted that this service, under Tesla's current permit, can only be conducted with non-autonomous vehicles. What California DMV said about Tesla's decision to expand robotaxi service As per the report, the California Department of Motor Vehicles (DMV) said that Tesla has a "drivered testing permit" since 2014, which allows the company to operate autonomous vehicles with a safety driver on board, though it does not permit charging for rides. The DMV also noted that these safety drivers have to be Tesla employees, contractors, or designated representatives of the company under the terms of the permit. Tired of too many ads? go ad free now Currently, in Austin, Tesla is conducting tests of a robotaxi service using its Model Y SUVs, which are fitted with the company's updated automated driving software and hardware. The service runs during the day and in clear weather conditions, restricted to roads with speed limits up to 40 miles per hour. These robotaxis are monitored remotely by Tesla staff and have a human safety supervisor seated in the front passenger seat. The service is currently available to selected users who have opted into Tesla's 'early access program' and accepted its terms. Nvidia Makes History: First Company to Hit $4 Trillion Market Cap


Economic Times
2 hours ago
- Economic Times
Nvidia CEO Jensen Huang calls AI the ‘greatest equalizer of our time', predicts it will create more millionaires than the internet
Synopsis Nvidia's CEO, Jensen Huang, predicts AI will create more millionaires in the next five years than the internet did in twenty, democratizing wealth creation by making everyone a programmer, artist, and author. He envisions companies operating both physical and digital factories, with small AI teams generating billions in value. Reuters Nvidia's CEO, Jensen Huang, predicts AI will create more millionaires in the next five years than the internet did in twenty, democratizing wealth creation by making everyone a programmer, artist, and author. He envisions companies operating both physical and digital factories, with small AI teams generating billions in value. Nvidia CEO Jensen Huang is no stranger to making bold claims, but his latest prediction might just redefine how we view the next era of innovation. Speaking on the All-In podcast hosted by venture capitalist Chamath Palihapitiya, Huang forecasted that 'AI will create more millionaires in five years than the internet did in 20.' In an era where AI is evolving faster than policy and public understanding can keep pace, Huang's perspective offers both a reality check and a roadmap for those hoping to ride the next tech wave. The takeaway? The AI revolution is already here, and those who don't adapt may be left behind. When asked why he calls AI the 'greatest technology equaliser,' Huang responded with a transformative view: 'Everybody is a programmer now.' According to the Nvidia CEO, the traditional gatekeeping of coding languages like C++ or Python has faded. With AI interfaces, people now only need to express an idea in natural language to create something powerful. 'Everybody is an artist now; everybody is an author now,' Huang said, explaining that AI bridges the gap between imagination and execution. The CEO believes this accessibility will democratize wealth creation, empower creatives, and allow smaller teams to deliver enterprise-level impact. Huang believes that in the near future, every company will operate two factories—one physical and one digital. 'Tesla builds cars in one factory, and in another, it builds the AI that powers them,' he explained. This model, he claims, will soon apply to every major industrial business, not just tech startups. And the scale? Staggering. Nvidia plans to produce about $500 billion worth of AI supercomputers in Arizona and Texas over the next four years. These machines are expected to drive trillions in economic value across industries. In a conversation during the Hill and Valley Forum, Huang revealed the financial impact of compact, focused AI teams. Citing examples like OpenAI and China's DeepSeek—each initially staffed with about 150 researchers—Huang estimated these teams can produce value worth $20 to $30 billion, or roughly $200 million per person. 'No industry in history has ever had this kind of leverage,' he asserted, underlining how mid-sized teams, when backed with the right resources, can transform markets at lightning speed. In fact, Huang noted, 'I've created more billionaires on my management team than any CEO in the world. They're doing just fine.' In an unexpected insight into Nvidia's internal culture, Huang also shared his hands-on approach to employee compensation. He confirmed that he personally reviews every proposed salary and stock grant at the company—yes, all 42,000 employees—and uses machine learning to sort through recommendations. '100% of the time, I increase the company's spend on OpEx,' Huang said, 'because you take care of people, and everything else takes care of itself.' And yes, he jokingly added, he does 'carry stock options in his pocket.' Huang issued a word of caution for professionals stuck in old ways. 'Anybody who is not using AI is going to lose their jobs to someone with knowledge of AI,' he said. This wasn't framed as a threat, but rather a reflection of the new baseline in skill development. For those who've long felt tech was inaccessible, AI may offer an unexpected second chance to get ahead. 'The barrier between idea and execution has collapsed,' Huang declared.