July 22, 2025
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32:54
5:42
10:15Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube wiith Scarlet Fu, Katie Greifeld, Carol Massar and Tim Stenovec.
Wall Street traders gearing up for the start of the high-stakes megacap earnings season kept stocks at all-time highs, with investors also parsing the latest tariff developments. Bond yields and the dollar fell.
While the S&P 500 barely budged, more than 400 of its shares rose. A gauge of the “Magnificent Seven” giants halted a nine-day advance, but Tesla Inc. and Alphabet Inc. climbed before their results. D.R. Horton Inc. led a rally in homebuilders. Kohl’s Corp. surged as much as 105% — before paring gains to 38% — in a move reminiscent of the meme era. In late hours, Texas Instruments Inc. gave a disappointing forecast.
Big tech’s strength will be on full display over the next few weeks as the group begins unveiling quarterly earnings. The lion’s share of S&P 500 earnings growth continues to come from beneficiaries of advancements in artificial intelligence.
The Magnificent Seven companies are expected to post a combined 14% rise in second-quarter profits, while earnings for the rest of the US equity benchmark are predicted to be relatively flat, according to Bloomberg Intelligence data.
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