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Economic Times
8 hours ago
- Automotive
- Economic Times
S&P 500 and Nasdaq rally to record highs on optimism about trade deals
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova , as the European Union and the U.S. appeared headed toward a trade deal similar to an agreement President Donald Trump struck with White House's deal with the European Union would include a broad tariff of 15% on EU goods imported into the U.S., two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the U.S. has struck with benchmark S&P 500 has now climbed about 8% in 2025, while the Nasdaq has gained almost 9%."The key thing is the markets have confidence that the White House is going to continue to work through these trade deals ," said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend of GE Vernova surged to 14.6% an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained over 80% so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data AI chipmaker Nvidia climbed 2.25% and fueled gains in the S&P 500 and edged up 0.14% ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk."What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in dipped 0.58%, with the Google parent also set to report results after the close of S&P 500 climbed 0.78% to end the session at 6,358.91 Nasdaq gained 0.61% to 21,020.02 points, while the Dow Jones Industrial Average rose 1.14% to 45,010.29 points, just short of its December 4 record high on U.S. exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 Street's "fear gauge", the CBOE Volatility Index , dipped to its lowest level in over five on average expect S&P 500 companies to report a 7.5% increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings equipment maker Thermo Fisher surged over 9% after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13% after its quarterly profit forecast pointed to weaker-than-expected demand for its analog chips and underscored tariff-related Instruments' report weighed on other analog chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1% and 4.6%.In economic data, U.S. existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58%, according to the CME FedWatch issues outnumbered falling ones within the S&P 500 by a 2.1-to-one S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows.
Time of India
8 hours ago
- Business
- Time of India
S&P 500 and Nasdaq rally to record highs on optimism about trade deals
The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova , as the European Union and the U.S. appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15% on EU goods imported into the U.S., two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the U.S. has struck with Japan. Explore courses from Top Institutes in Please select course: Select a Course Category by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo The benchmark S&P 500 has now climbed about 8% in 2025, while the Nasdaq has gained almost 9%. "The key thing is the markets have confidence that the White House is going to continue to work through these trade deals ," said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report. Shares of GE Vernova surged to 14.6% an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained over 80% so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centers. Live Events Heavyweight AI chipmaker Nvidia climbed 2.25% and fueled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14% ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58%, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78% to end the session at 6,358.91 points. The Nasdaq gained 0.61% to 21,020.02 points, while the Dow Jones Industrial Average rose 1.14% to 45,010.29 points, just short of its December 4 record high close. Volume on U.S. exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge", the CBOE Volatility Index , dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5% increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged over 9% after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13% after its quarterly profit forecast pointed to weaker-than-expected demand for its analog chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analog chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1% and 4.6%. In economic data, U.S. existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58%, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows.
The Advertiser
9 hours ago
- Automotive
- The Advertiser
Wall Street gains amid optimism about trade deals
The S&P 500 and Nasdaq have notched record high closes, lifted by Nvidia and GE Vernova, as the European Union and the United States appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15 per cent on EU goods imported into the US, two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the US has struck with Japan. The benchmark S&P 500 has now climbed about 8.0 per cent in 2025 while the Nasdaq has gained almost 9.0 per cent. Shares of GE Vernova surged to 14.6 per cent an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained more than 80 per cent so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centres. Heavyweight AI chipmaker Nvidia climbed 2.25 per cent and fuelled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14 per cent ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58 per cent, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78 per cent to end the session at 6,358.91 points, the Nasdaq gained 0.61 per cent to 21,020.02 points and the Dow Jones Industrial Average rose 1.14 per cent to 45,010.29 points - just short of its December 4 record high close. Volume on US exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5 per cent increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged more than 9.0 per cent after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13 per cent after its quarterly profit forecast pointed to weaker-than-expected demand for its analogue chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1.0 per cent and 4.6 per cent. In economic data, US existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58 per cent, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows. The S&P 500 and Nasdaq have notched record high closes, lifted by Nvidia and GE Vernova, as the European Union and the United States appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15 per cent on EU goods imported into the US, two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the US has struck with Japan. The benchmark S&P 500 has now climbed about 8.0 per cent in 2025 while the Nasdaq has gained almost 9.0 per cent. Shares of GE Vernova surged to 14.6 per cent an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained more than 80 per cent so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centres. Heavyweight AI chipmaker Nvidia climbed 2.25 per cent and fuelled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14 per cent ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58 per cent, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78 per cent to end the session at 6,358.91 points, the Nasdaq gained 0.61 per cent to 21,020.02 points and the Dow Jones Industrial Average rose 1.14 per cent to 45,010.29 points - just short of its December 4 record high close. Volume on US exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5 per cent increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged more than 9.0 per cent after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13 per cent after its quarterly profit forecast pointed to weaker-than-expected demand for its analogue chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1.0 per cent and 4.6 per cent. In economic data, US existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58 per cent, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows. The S&P 500 and Nasdaq have notched record high closes, lifted by Nvidia and GE Vernova, as the European Union and the United States appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15 per cent on EU goods imported into the US, two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the US has struck with Japan. The benchmark S&P 500 has now climbed about 8.0 per cent in 2025 while the Nasdaq has gained almost 9.0 per cent. Shares of GE Vernova surged to 14.6 per cent an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained more than 80 per cent so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centres. Heavyweight AI chipmaker Nvidia climbed 2.25 per cent and fuelled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14 per cent ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58 per cent, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78 per cent to end the session at 6,358.91 points, the Nasdaq gained 0.61 per cent to 21,020.02 points and the Dow Jones Industrial Average rose 1.14 per cent to 45,010.29 points - just short of its December 4 record high close. Volume on US exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5 per cent increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged more than 9.0 per cent after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13 per cent after its quarterly profit forecast pointed to weaker-than-expected demand for its analogue chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1.0 per cent and 4.6 per cent. In economic data, US existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58 per cent, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows. The S&P 500 and Nasdaq have notched record high closes, lifted by Nvidia and GE Vernova, as the European Union and the United States appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15 per cent on EU goods imported into the US, two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the US has struck with Japan. The benchmark S&P 500 has now climbed about 8.0 per cent in 2025 while the Nasdaq has gained almost 9.0 per cent. Shares of GE Vernova surged to 14.6 per cent an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained more than 80 per cent so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centres. Heavyweight AI chipmaker Nvidia climbed 2.25 per cent and fuelled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14 per cent ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58 per cent, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78 per cent to end the session at 6,358.91 points, the Nasdaq gained 0.61 per cent to 21,020.02 points and the Dow Jones Industrial Average rose 1.14 per cent to 45,010.29 points - just short of its December 4 record high close. Volume on US exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5 per cent increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged more than 9.0 per cent after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13 per cent after its quarterly profit forecast pointed to weaker-than-expected demand for its analogue chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1.0 per cent and 4.6 per cent. In economic data, US existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58 per cent, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows.
New Straits Times
9 hours ago
- Automotive
- New Straits Times
S&P 500 and Nasdaq rally to record highs on optimism about trade deals
NEW YORK: The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova, as the European Union and the US appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15 per cent on EU goods imported into the US, two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the US has struck with Japan. The benchmark S&P 500 has now climbed about 8 per cent in 2025, while the Nasdaq has gained almost 9 per cent. "The key thing is the markets have confidence that the White House is going to continue to work through these trade deals," said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report. Shares of GE Vernova surged to 14.6 per cent an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained over 80 per cent so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centers. Heavyweight AI chipmaker Nvidia climbed 2.25 per cent and fueled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14 per cent ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58 per cent, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78 per cent to end the session at 6,358.91 points. The Nasdaq gained 0.61 per cent to 21,020.02 points, while the Dow Jones Industrial Average rose 1.14 per cent to 45,010.29 points, just short of its December 4 record high close. Volume on US exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge", the CBOE Volatility Index , dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5 per cent increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged over 9 per cent after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13 per cent after its quarterly profit forecast pointed to weaker-than-expected demand for its analog chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analog chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1 per cent and 4.6 per cent. In economic data, US existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58 per cent, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows. (Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru, and by Noel Randewich In San Francisco; Editing by Maju Samuel and David Gregorio)
The Star
11 hours ago
- Automotive
- The Star
S&P 500 and Nasdaq rally to record highs
The S&P 500 climbed 0.78% to end the session at 6,358.91 points. The Nasdaq gained 0.61% to 21,020.02 points, while the Dow rose 1.14% to 45,010.29 points. NEW YORK: The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova, as the European Union and the US appeared headed toward a trade deal similar to an agreement President Donald Trump struck with Japan. The White House's deal with the European Union would include a broad tariff of 15% on EU goods imported into the US, two diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the US has struck with Japan. The benchmark S&P 500 has now climbed about 8% in 2025, while the Nasdaq has gained almost 9%. "The key thing is the markets have confidence that the White House is going to continue to work through these trade deals," said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report. Shares of GE Vernova surged to 14.6% an all-time high after the power equipment maker raised its revenue and free cash flow forecasts and beat Wall Street estimates for second-quarter profit. GE Vernova has gained over 80% so far in 2025, with power consumption on track to hit record highs due to growing demand from AI and cryptocurrency data centers. Heavyweight AI chipmaker Nvidia climbed 2.25% and fueled gains in the S&P 500 and Nasdaq. Tesla edged up 0.14% ahead of its quarterly report due after the closing bell. Investors will focus on the electric vehicle maker's analyst conference call. They have braced for Tesla to report a steep drop in revenue related to mounting competition, a lack of new car models and a consumer backlash against CEO Elon Musk. "What you will hear is an awful lot of discussion about the future and a broad acknowledgement that this was a terrible quarter," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. Alphabet dipped 0.58%, with the Google parent also set to report results after the close of trading. The S&P 500 climbed 0.78% to end the session at 6,358.91 points. The Nasdaq gained 0.61% to 21,020.02 points, while the Dow Jones Industrial Average rose 1.14% to 45,010.29 points, just short of its December 4 record high close. Volume on US exchanges was relatively heavy, with 19.1 billion shares traded, compared to an average of 17.7 billion shares over the previous 20 sessions. Wall Street's "fear gauge", the CBOE Volatility Index , dipped to its lowest level in over five months. Analysts on average expect S&P 500 companies to report a 7.5% increase in earnings for the second quarter, according to LSEG I/B/E/S. Microsoft, Nvidia and other technology heavyweights that have seen their valuations soar due to their leadership in AI are expected to drive much of that quarterly earnings growth. Medical equipment maker Thermo Fisher surged over 9% after beating Wall Street's estimates for second-quarter profit and revenue. Texas Instruments tumbled 13% after its quarterly profit forecast pointed to weaker-than-expected demand for its analog chips and underscored tariff-related uncertainty. Texas Instruments' report weighed on other analog chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor losing between 1% and 4.6%. In economic data, US existing home sales fell more than expected in June. Focus now shifts to Thursday's weekly jobless claims numbers and S&P Global's flash PMI data to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at about 58%, according to the CME FedWatch tool. Advancing issues outnumbered falling ones within the S&P 500 by a 2.1-to-one ratio. The S&P 500 posted 50 new highs and 2 new lows; the Nasdaq recorded 96 new highs and 20 new lows. — Reuters
