logo
How major US stock indexes fared Tuesday, 8/5/2025

How major US stock indexes fared Tuesday, 8/5/2025

Washington Post7 hours ago
U.S. stock indexes slipped following the latest discouraging signal on the U.S. economy.
The S&P 500 fell 0.5% Tuesday, coming off a whipsaw stretch where it followed its worst day since May with its best since May. The Dow Jones Industrial Average fell 0.1%, and the Nasdaq composite fell 0.7%.
A weaker-than-expected report on activity for U.S. services businesses added to worries that President Donald Trump's tariffs may be hurting the economy. But hopes for coming cuts to interest rates by the Federal Reserve, along with a stream of stronger-than-expected profit reports from U.S. companies, helped keep the losses in check.
On Tuesday:
The S&P 500 fell 30.75 points, or 0.5%, to 6,299.19.
The Dow Jones Industrial Average fell 61.90 points, or 0.1%, to 44,111.74.
The Nasdaq composite fell 137.03 points, or 0.7%, to 20,916.55.
The Russell 2000 index of smaller companies rose 13.37 points, or 0.6%, to 2,225.67.
For the week:
The S&P 500 is up 61.18 points, or 1%.
The Dow is up 523.16 points, or 1.2%.
The Nasdaq is up 266.42 points, or 1.3%.
The Russell 2000 is up 58.89 points, or 2.7%.
For the year:
The S&P 500 is up 417.56 points, or 7.1%.
The Dow is up 1,567.52 points, or 3.7%.
The Nasdaq is up 1,605.76 points, or 8.3%.
The Russell 2000 is down 4.49 points, or 0.2%.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nixing Tailpipe Emissions Rules Will Spike Gas Prices, Trump Admin Report Says
Nixing Tailpipe Emissions Rules Will Spike Gas Prices, Trump Admin Report Says

Yahoo

time28 minutes ago

  • Yahoo

Nixing Tailpipe Emissions Rules Will Spike Gas Prices, Trump Admin Report Says

Nixing Tailpipe Emissions Rules Will Spike Gas Prices, Trump Admin Report Says originally appeared on Autoblog. The EPA touted savings for Americans On July 29, the U.S. Environmental Protection Agency announced that it was in the process of rescinding the landmark 2009 endangerment finding, a decision that set the course for regulations regarding greenhouse gas emissions, such as those from cars and power plants. In its announcement, the EPA noted that if its proposal is finalized, greenhouse gas emissions regulations for motor vehicles and engines would be repealed, which it claims would restore consumer choice and give Americans the ability to purchase a safe and affordable car for their families, thereby decreasing the overall cost of living. 'With this proposal, the Trump EPA is proposing to end sixteen years of uncertainty for automakers and American consumers,' EPA Administrator Lee Zeldin said in a statement. "[...] If finalized, rescinding the Endangerment Finding and resulting regulations would end $1 trillion or more in hidden taxes on American businesses and families." Revoking emissions policies will make gas expensive, the US EIA finds Despite promising $54 billion in annual savings for Americans, a new report from CBS News, using data from the EPA and the U.S. Energy Information Administration (EIA), shows that one vital resource that enables everyday transportation will become more expensive over time if the EPA successfully rescinds the 2009 endangerment finding. According to EIA projections cited by both CBS and the EPA, gas prices are expected to increase over time in a scenario where emissions policies are revoked under the Trump administration, as there would be a higher demand for gas-powered cars to travel and fuel to power them. Although gas prices are subject to intense market volatility due to various factors, USEIA data indicate that gas prices would largely fall if the environmental policies of the last administration were to remain intact, and that prices would increase under a proposed rollback of environmental regulations. Under the Biden administration, the EPA set a new goal for new gas-powered cars to achieve 47.1 miles per gallon (mpg) by 2027 and then reach around 61.2 miles per gallon by 2035. Without those Biden-era policies, cars made in 2027 are only expected to meet a lower standard of 43.6 mpg, gradually increasing to 50.5 mpg by 2035. In an emailed statement to CBS News, former EIA administrator Joseph DeCarolis explained that if the EPA under the Trump administration "disincentivizes electric vehicle purchases, more consumers will purchase gasoline vehicles, resulting in higher gasoline consumption and high gasoline prices for everyone." "There's a clear causal connection between rescinding measures promoting electric vehicles, such as EPA tailpipe standards, and the projection of higher gasoline prices," he said. In an interview on CBS's The Takeout with Major Garrett, Zeldin did not address how the plan to rescind the 2009 Endangerment Finding would affect gas prices. Instead, he argued that the previous administration's policies were costing trillions of dollars, as they were heavily restricting "[…] entire sectors of our economy, and specifically our energy economy.' 'It's important that we are applying common sense," Zeldin said, "that we are cognizant of these economic demands and that, wherever possible, when we can protect the environment and grow the economy that we will choose both." Final Thoughts Be that as it may, the American consumer is already at a penny-pinching point of contention, and experts warn that these proposed EPA rollbacks would add to the already expensive operating costs of gas-powered cars. In a statement to CBS News, Peter Huether, a senior transportation research associate at the American Council for an Energy-Efficient Economy, warned that "Drivers would pay thousands of dollars more in fuel and maintenance costs over the life of a vehicle, and businesses could lose billions annually from higher trucking costs" if the Zeldin-led EPA gets its way. He added that the added cost for fuel costs "would ripple through the economy, raising prices for everyday goods and undercutting job growth." Nixing Tailpipe Emissions Rules Will Spike Gas Prices, Trump Admin Report Says first appeared on Autoblog on Aug 6, 2025 This story was originally reported by Autoblog on Aug 6, 2025, where it first appeared.

Here are the top recession indicators economic forecasters are watching for
Here are the top recession indicators economic forecasters are watching for

Yahoo

time28 minutes ago

  • Yahoo

Here are the top recession indicators economic forecasters are watching for

Worries about a recession are coming back to the forefront after a weak July jobs report. The economy added fewer jobs than expected and revised job gains for May and June by 258,000. Economists are now keyed in on two areas when gauging the risk of recession. Murmurs about a potential recession are rising again after a weak July jobs report, and there are a few signals that forecasters are watching for as early warning signs. The US added just 73,000 jobs for the month, while job gains for May and June were revised downward by a combined 258,000. Besides revisions that took place during the pandemic, that was largest two-month downward revision in about 46 years, according to an analysis from Morgan Stanley. To markets, the message is getting clearer: the US economy is on shakier footing than originally thought — and the odds of a recession might be higher despite most forecasters still calling for a soft landing in 2025. "The economy is on the precipice of recession. That's the clear takeaway from last week's economic data dump," Mark Zandi, the chief economist at Moody's wrote in a post on X over the weekend, pointing to weaker jobs data in a separate post. "There was a definite narrative shift in the economics community on Friday given the severity of the payroll revisions for May and June," Kevin Gordon, a senior investment strategist at Charles Schwab, wrote in a note on Monday. Economists are now focusing on a handful of key indicators in the coming months that could be early warning signs of a recession around the corner. The next jobs reports are key The job market is now in the spotlight. Any additional signs of weakness could send a strong signal that the economy is turning a corner into a recession, Schwab's Gordon said. "As always, no single report should be obsessed over or extrapolated; but if we continue to see a sharp slowdown in job growth and drift higher in the unemployment rate—consistent with the trends from May to July—it would bring forward the possibility that recessionary conditions are forming quickly," he added. Economists will be sifting through one more month of labor market data before the Fed's next policy meeting in September, when the central bank is expected to trim interest rates by 25 basis points. Economists at Goldman Sachs said they believed the US job market was now approaching "stall speed" — a state where the labor market begins to weaken in a "self-reinforcing fashion." The bank added that its estimates of underlying jobs growth had "plummeted" as a result of the downward revisions, which were on par with other two-month payrolls revisions that have been associated with recessions in the past: The magnitude of the latest drop implies a 9 percentage point increase in the risk of a coming recession, Morgan Stanley economists wrote. Consumer spending Wall Street is also on high alert for signs that Americans are reining in their spending. The view that the US economy is on solid footing is starting to look "rather perilous," according to Michael Brown, a senior research strategist at Pepperstone, given that a weaker job market could cut into consumer spending in the coming months. Americans are already beginning to tighten their wallets. Though consumer spending ticked higher overall in June, personal consumption expenditures on durable goods, one measure of how much Americans are spending on items, declined to $2.24 trillion in June, down around $40 billion from its peak in April, according to the Bureau of Economic Analysis. The Institute for Supply Management Services Index also ticked lower to 50.1 from 50.8, in July, a sign Americans are beginning to pull back on services spending as well, according to Oliver Allen, a senior US economist at Pantheon Macroeconomics. "Spending on services has already slowed significantly from its solid pace last year, and the clear deterioration in the labor market and drag on real incomes from tariffs suggest a marked recovery is unlikely," Allen wrote in a note, though added that he believed a "stagnation" was more likely in the coming months than a collapse in spending. "Consumer spending has flatlined, construction and manufacturing are contracting, and employment is set to fall. And with inflation on the rise, it is tough for the Fed to come to the rescue," Moody's Zandi wrote on X. Read the original article on Business Insider

Nvidia reiterates its chips have no backdoors, urges US against location verification
Nvidia reiterates its chips have no backdoors, urges US against location verification

Yahoo

time28 minutes ago

  • Yahoo

Nvidia reiterates its chips have no backdoors, urges US against location verification

BEIJING (Reuters) -Nvidia has published a blog post reiterating that its chips did not have backdoors or kill switches and appealed to U.S. policymakers to forgo such ideas saying it would be a "gift" to hackers and hostile actors. The blog post, which was published on Tuesday in both English and Chinese, comes a week after the Chinese government summoned the U.S. artificial intelligence (AI) chip giant to a meeting saying it was concerned by a U.S. proposal for advanced chips sold abroad to be equipped with tracking and positioning functions. The White House and both houses of U.S. Congress have proposed the idea of requiring U.S. chip firms to include location verification technology with their chips to prevent them from being diverted to countries where U.S. export laws ban sales. The separate bills and White House recommendation have not become a formal rule, and no technical requirements have been established. "Embedding backdoors and kill switches into chips would be a gift to hackers and hostile actors. It would undermine global digital infrastructure and fracture trust in U.S. technology," Nvidia said. It had said last week its products have no backdoors that would allow remote access or control. A backdoor refers to a hidden method of bypassing normal authentication or security controls. Nvidia emphasized that "there is no such thing as a 'good' secret backdoor - only dangerous vulnerabilities that need to be eliminated."

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