Nasdaq, S&P 500 and Stock Market
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US stock market continued its winning streak as the S&P 500 and Nasdaq Composite reached new record highs, driven by strong corporate earnings, booming tech stocks, and growing hopes of a Federal Reserve rate cut.
The S&P 500 closed at an all-time high for the ninth time this month, while the tech-heavy Nasdaq hit its 13th record July close.
The major indexes remain at or near record highs while navigating a plethora of catalysts, including earnings, economic data, tariffs, and Trump-Powell drama.
NEW YORK (AP) — Wall Street is hanging near its records on Thursday, but the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rallying, and Tesla is sinking sharply following a jumble of profit reports from big U.S. companies.
Verizon Communications helped lead the way and rose 4%. The telecom giant reported a stronger profit for the latest quarter than analysts expected, along with higher revenue than forecast. Following the better-than-expected performance, Verizon raised its forecasts for profit and other financial measures for the full year.
Wall Street is hanging around its records after some mixed profit reports, as GM and other big U.S. companies give updates on how much President Donald Trump's tariffs are hurting or helping them.
US stocks close mixed after the FT says Trump wants an at least 15%-20% tariff on all EU goods. S&P 500 and Nasdaq come off Nasdaq record highs.
The S&P 500 was virtually unchanged in midday trading and just a bit below its all-time high, even as more than four out of every five stocks within the index fell.