The S&P 500 rose on Friday as it closes out a winning week following solid earnings results and the latest trade developments.
The S&P 500 traded up 0.4%, while the Nasdaq Composite gained 0.3%, with both indexes hitting new all-time intraday highs during the session. The Dow Jones Industrial Average also climbed 190 points, or 0.4%.
All three major averages are on pace to finish the week with gains. The 30-stock Dow is tracking for nearly a 1% advance on the week, as is the tech-heavy Nasdaq, while the S&P 500 has risen about 1.2% week to date.
Thursday marked the broad market index’s 13th record close of 2025, four of which were recorded this week as the index finished above 6,300 for the first time on Monday. The Nasdaq, meanwhile, has seen three record closes this week, breaking the 21,000 threshold on Wednesday.
The journey to all-time highs over this past week has been supported by a strong earnings season so far, including Alphabet’s better-than-expected earnings report. Verizon shares also jumped after the telecommunications company’s results surpassed expectations. Alphabet is up 4% on the week and Verizon is up 5% week to date.
More than 82% of the 169 S&P 500 companies that have reported to date have beaten Wall Street’s expectations, per FactSet data.
“The bull market lives on, supported largely by favorable fundamentals,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, told CNBC. “Inflation is stable, interest rates are range-bound and earnings are trending higher, and that presents a favorable backward drop for stocks to trend higher. We still look for a risk-on bias to be intact as we move through this earnings season.”
On top of earnings, recent deals between the U.S. and its trading partners have helped push the market to new heights. Earlier this week, President Donald Trump announced a “massive” trade agreement with Japan, which includes 15% “reciprocal” tariffs. The president also said this week that the U.S. and Indonesia have settled on the framework of a trade agreement.
Trump said Friday that he expects more deals to be done before next week’s Aug. 1 tariff deadline. An agreement between the U.S. and the European Union could be one of those, as European Commission President Ursula von der Leyen posted on X later Friday that she and Trump have agreed to meet in Scotland on Sunday to discuss trade.
“Tariffs remain an item of uncertainty, and commentary from companies still reflects this ongoing uncertainty,” Sandven continued. “You look at the ongoing tariff commentary, you look at geopolitical challenges, whether it be with Russia-Ukraine, Israel-Iran and the like. Through all that, the equity market has trended higher. In our view, it gets back to the strong fundamentals, namely inflation appears to be under control.”
Investors are gearing up for the busiest week of earnings season next week, as more than 150 S&P 500 companies are due to post their quarterly results. That includes names in the “Magnificent Seven,” such as Meta Platforms and Apple.
Next week is also when the Federal Reserve is scheduled to meet once again. Policymakers are widely expected to keep interest rates at their current target range of 4.25% to 4.5%.
Palantir stock up more than 2%, passing market value of Home Depot, P&G
Palantir’s shares are up more than 2% in trading Friday on the back of Piper Sandler initiating coverage at an overweight rating. The gains have sent the stock to a fresh all-time high, and with it, the company’s market value has more than doubled this year. The software stock has now cracked into the top 20 in the S&P 500 with a valuation that tops corporate giants like Home Depot and Procter & Gamble.
Piper Sandler expects the stock could rise to $175, a price target that suggests a 13% gain from its Thursday close. Analyst Brent Bracelin acknowledged the stock’s strong run, but expects artificial intelligence will continue to be a catalyst.
“We see PLTR as a secular winner in the AI revolution with multiple drivers that could sustain 30%+ growth and 40%+ [free cash flow],” he wrote.
—Christina Cheddar Berk, Adrian van Hauwermeiren
Coinbase pacing to break longest weekly rally since 2023
Shares of Coinbase are on track for their fifth daily loss in a row – their longest slide since February.
They’re also pacing to break a five-week win streak – their longest weekly rally since December 2023.
The declines come after Coinbase last Friday hit an all-time high, following the signing of the GENIUS Act stablecoin legislation into the first ever U.S. crypto law.
This week, Cathie Wood-led Ark Invest sold more than $12 million in Coinbase holdings across its different funds, rotating into Peter Thiel-backed ether treasury company Bitmine Immersion Technologies. Ark also sold shares of crypto-linked stocks Block and Robinhood.
— Tanaya Macheel, Nick Wells
Tesla, Charter Communications, Intel among the stocks making moves midday
Here are the stocks making midday moves on Friday:
Tesla – The electric vehicle maker’s stock jumped more than 4% after Business Insider reported that Tesla’s robotaxi service will debut in San Francisco as soon as this weekend. Even with the move, Tesla shares are down nearly 3% week to date.Charter Communications — The cable operator’s shares fell almost 17%, and are on track for their worst day ever, after disappointing results. Charter Communications lost 117,000 broadband and 80,000 video subscribers in the second quarter. The news also hurt shares of other cable providers. Comcast fell nearly 5%, Altice was down about 9% and EchoStar slipped about 2%.Intel — Shares of the chipmaker dropped more than 9% after Intel said it will cut 15% of its workforce and scale back plans for chip factory construction in an attempt to revitalize its artificial intelligence strategy. The announcement came even as Intel topped second-quarter revenue expectations.Read the full list of names making moves here.
— Christina Cheddar Berk
EU’s von der Leyen set to meet with Trump this weekend on trade
Yves Herman | ReutersEuropean Commission President Ursula von der Leyen speaks during a press point on 18th package of sanctions against Russia, in Brussels, Belgium June 10, 2025.European Commission President Ursula von der Leyen said Friday that she will travel to Scotland over the weekend to meet with President Donald Trump, providing hope that a trade deal between the U.S. and the European Union could be finalized prior to the Aug. 1 tariff deadline.
“Following a good call with @POTUS, we have agreed to meet in Scotland on Sunday to discuss transatlantic trade relations, and how we can keep them strong,” Von der Leyen said in a post on X.
This comes after reports earlier this week said that the two sides were closing in on an agreement.
— Sean Conlon
S&P 500, Nasdaq reach fresh highs
The S&P 500 and Nasdaq Composite scored all-time intraday highs during Friday’s session.
If the two indexes were to hit new closing records Friday, that would signify the 14th record close of the year for the S&P 500 and the 15th of the year for the Nasdaq.
— Nick Wells, Sean Conlon
Some new meme stocks head for best week ever as retail traders drive up shares
Two of the stocks that caught meme traders’ attention in recent days are on track for their best weeks ever.
GoPro shares have soared more than 58% so far this week, while Krispy Kreme shares have surged more than 32%. That marks the biggest weekly gains for each in their respective histories on the public market.
Meanwhile, Kohl’s shares have jumped nearly 34% week to date. With that gain, the retailer is on pace to record its third best week on record.
— Alex Harring, Tom Rotunno
Musk says Tesla valuation can reach $20 trillion after post-earnings sell-off
CNBCElon Musk is interviewed on CNBC from the Tesla headquarters in Texas.Tesla CEO Elon Musk said that the electric vehicle company’s valuation could reach $20 trillion. Currently, the company is valued at around $1 trillion.
“Extreme execution is needed, but a valuation of $20 trillion for Tesla is possible,” Musk wrote in a Friday morning post on X, the social media platform he owns.
Musk’s comment comes after a tough day for the stock, with shares sinking more than 8% on Thursday following a weaker-than-expected earnings report. Shares have tumbled more than 22% in 2025, making Tesla the worst performer within megacap tech this year.
— Alex Harring, Nick Wells
Trump says there is a 50% chance of trade deal with EU, 25% with Japan
U.S. President Donald Trump said there is a 50-50 chance that the United States would reach a trade agreement with the European Union, as he spoke to reporters ahead of his trip to Scotland.
“The trade deal with the EU, I would say that we have a 50-50 chance, maybe less than that, but a 50-50, chance of making a deal with the EU, and it’ll be a deal where they have to buy down their tariffs, because they’re right now at 30% and they’ll have to buy them down maybe, or they could lead them the way they are,” Trump said on Friday.
Trump added that he believes the U.S. has a 25% chance to make a trade deal with Japan.
— Pia Singh
Bitcoin ETF flows head for first negative week since early June
Cheng Xin | Getty ImagesInflows resumed into bitcoin ETFs on Thursday totaling about $226 million for the day, following three consecutive days of outflows, as ether ETFs saw inflows of $231 million and their 15th day in a row of inflows.
“This divergence suggests a growing belief that ETH is better positioned and would continue to outperform bitcoin in the near term due to its accelerating institutional demand and the critical role it plays in supporting critical on-chain infrastructure like tokenized assets, stablecoins, and the TradFi-DeFi convergence,” said Shawn Young, chief analyst at crypto exchange MEXC. “Ether could then lead a capital rotation rally across high-beta altcoins if macro conditions stabilize and a liquidity boost like a dovish FED policy pivot happens.”
Bitcoin ETFs have seen about $58.64 million in outflows so far this week and are heading for their first week of net outflows since early June, versus ether funds’ $1.39 billion in weekly inflows.
— Tanaya Macheel
Stocks open higher Friday
Stocks traded up on Friday morning.
The S&P 500 ticked up 0.1% shortly after the opening bell, as did the Nasdaq Composite. The Dow Jones Industrial Average also gained 54 points, or 0.1%.
— Sean Conlon
Intel, Centene among stocks moving before Friday’s open
Check out the companies making headlines before the bell:
Intel — Shares of the chipmaker dropped more than 7% after Intel said it will cut 15% of its workforce and slashed plans for chip factory construction in an attempt to revitalize its AI strategy. Intel topped second-quarter revenue results, posting $12.86 billion in revenue that beat the $11.92 billion expected by analysts surveyed by LSEG, and lost an adjusted 10 cents per share.Paramount — The owner of CBS television rose more than 1% in early trading Friday after the Federal Communications Commission on Thursday approved an $8 billion merger between Paramount and Skydance Media.Centene — The managed care provider plunged 14% after a quarterly loss that saw membership decline across its Medicaid and Medicare businesses. Centene posted a second-quarter adjusted loss of 16 cents per share, while analysts polled by FactSet expected earnings of 11 cents per share. Revenue of $48.7 billion topped analysts’ expectations of $44.1 billion, per FactSet. Centene’s chief executive said the company is “disappointed” by the results and “working with urgency and focus to restore our earnings trajectory.”For the full list, read here.
— Pia Singh
Fed ‘honored’ to welcome Trump in visit to building project
Andrew Caballero-Reynolds | AFP | Getty ImagesUS President Donald Trump walks with Federal Reserve chair Jerome Powell (R) as he visits the Federal Reserve in Washington, DC, on July 24, 2025.Federal Reserve officials followed up President Donald Trump’s historic visit Thursday with a statement expressing gratitude, despite the confrontational undertones of the event.
“The Federal Reserve was honored to welcome the President yesterday for a visit to our historic headquarters,” a spokesperson said, also noting that Sens. Tim Scott (R-S.C.) and Thom Willis (R-N.C.) attended as well.
Chip Somodevilla | Getty ImagesFederal Reserve Chair Jerome Powell (C) talks to U.S. President Donal Trump as they tour the Federal Reserve’s $2.5 billion headquarters renovation project on July 24, 2025 in Washington, DC.“We are grateful for the President’s encouragement to complete this important project,” the official added. “We remain committed to continuing to be careful stewards of these resources as we see the project through to completion.”
Trump used the visit both to offer input on the $2.5 billion renovation project as well as to encourage the Fed to lower interest rates.
— Jeff Cox
AutoNation shares rise after earnings and revenue beat
Shares of AutoNation gained almost 3% in premarket trading on Friday after its second-quarter earnings and revenue topped analyst estimates.
AutoNation reported adjusted earnings of $5.46 per share on revenue of $6.97 billion, while analysts polled by FactSet were looking for $4.70 per share and $6.86 billion in revenue.
The company’s same-store revenue also rose 8% compared to the prior-year period, coming in at $6.9 billion.
The move higher comes as the stock has outpaced the S&P 500’s more than 8% gain this year with a rise of about 18%.
— Sean Conlon
Wall Street remains lukewarm on Intel after second-quarter earnings report
Justin Sullivan | Getty ImagesThe Intel logo is displayed on a sign in front of Intel headquarters on July 16, 2025 in Santa Clara, California.Wall Street analysts remain lukewarm on Intel, after the chipmaker reported its second-quarter results on Thursday afternoon.
In its last quarter, Intel registered an adjusted loss of 10 cents per share. But the company’s $12.86 billion revenue beat the $11.92 billion analysts polled by LSEG had expected.
But despite this revenue beat, no analysts were resoundingly optimistic on the stock going forward. In fact, Bank of America analyst Vivek Arya chalked up this sales beat due to “conservative expectations setting around tariffs, with Q3 guided sub-seasonal due to those same lingering concerns.”
“INTC’s strategic direction, growth strategy and manufacturing direction remain unclear,” the analyst added. “The company is simultaneously dealing with tough competition (AMD, ARM), lack of an AI pipeline, and a capex-intensive manufacturing business that continues to generate heavy losses and which remains well-behind industry leader TSMC that is rapidly building a U.S. presence.”
Arya reiterated his neutral rating and $25 price objective on the stock, implying a 10% upside ahead for Intel.
Similarly, Barclays analyst Tom O’Malley said that he wouldn’t buy the dip here. O’Malley also has a neutral rating on the stock, while his $19 price target is approximately 16% lower than Intel’s current trading price.
“The company provided few details on its AI plan and has meaningful ground to make up in whichever avenue it pursues,” he wrote. “Net-net, there are still more questions than answers and we stay on the sidelines until we get more clarity on long-term plans.”
— Lisa Kailai Han
Booz Allen Hamilton shares pop following latest earnings beat
NYSEThe New York Stock Exchange welcomes guests of Booz Allen Hamilton to celebrate its 110th anniversary of founding on June 25, 2024.Booz Allen Hamilton shares jumped nearly 3% in the premarket Friday after the company’s first-quarter earnings for its fiscal year 2026 surpassed Wall Street’s expectations.
The company posted adjusted earnings of $1.48 per share, beating the $1.45 per share that analysts polled by FactSet were expecting. Revenue, however, came up short, as the company’s $2.92 billion for the period missed the consensus estimate of $2.95 billion.
Booz Allen Hamilton also reaffirmed its guidance for the full year.
— Sean Conlon
India expects ‘preferential’ tariffs in a trade deal with U.S., says India’s commerce minister
India expects to secure “preferential” tariffs from the United States that are better than those achieved by its economic rivals, according to India’s Commerce and Industry Minister Piyush Goyal.
Goyal, who led the negotiations on the U.K.-India trade agreement, signaled a confident approach from New Delhi in ongoing trade talks with Washington.
Read the full story here.
— Ganesh Rao
Paramount shares rise after FCC approves merger with Skydance
Brian Van Der Brug | Los Angeles Times | Getty ImagesParamount Pictures studio lot at 5555 Melrose Ave. on Wednesday, June 5, 2024 in Hollywood, CA.Shares of Paramount jumped nearly 2% in after-hours trading Thursday after the Federal Communications Commission greenlit the $8 billion merger deal between Paramount and Skydance Media.
“Americans no longer trust the legacy national news media to report fully, accurately, and fairly,” wrote FCC Chairman Brendan Carr in a statement. “It is time for a change. That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network.”
— Sarah Whitten, Sean Conlon
Intel, Deckers, Boyd Gaming among the stocks making moves after the bell
Some stocks are making moves in extended trading Thursday:
Intel – Shares of the chipmaker inched up less than 1% in extended trading. That’s after the company’s second-quarter revenue of $12.86 billion topped the $11.92 billion that analysts surveyed by LSEG were expecting for the period. The company’s third-quarter revenue guidance also surpassed analyst estimates.Deckers – Shares of the shoe manufacturing company climbed 6%. Fiscal first-quarter results surpassed analysts’ estimates, with earnings landing at 93 cents a share on revenue of $965 million. LSEG consensus estimates called for earnings of 68 cents per share and $901 million in revenue. Deckers said it saw better-than-expected sales from its Hoka and Ugg brands.Boyd Gaming – The casino operator saw shares rise more than 1% in extended trading after the firm reported stronger-than-expected adjusted earnings and revenue for the second quarter. Boyd Gaming said its growth was supported by continued strength in its core customers as well as improvements in retail play.To view the full list of stocks, read here.
— Sean Conlon
Stock futures open little changed
U.S. stock futures were little changed on Thursday evening.
S&P 500 futures ticked higher by 0.1% just after 6 p.m. ET, as did Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average also advanced 36 points, or 0.1%.
— Sean Conlon
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