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Stock Rally Powers Ahead as Apple Surges 5% | Closing Bell
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August 6, 2025
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12:56Now PlayingComprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Vonnie Quinn, Carol Massar and Matt Miller.
Stock buyers waded back into the market, with a rally in most big techs driving gains. Short-dated Treasury yields fell on bets the Federal Reserve will soon be able to cut rates. The dollar slid.
The impetus to buy the dip has rarely been this strong, with the S&P 500 up almost 1% after a brief slide this week. The gauge has climbed an average 0.3% a day after a down session this year — on course for the second-best annual showing. The Nasdaq 100 rose 1.3%. Apple Inc. jumped 5.1%, with Donald Trump set to announce the firm will commit to a fresh $100 billion US investment as it seeks to avoid punishing tariffs on iPhones.
A soft $42 billion sale of 10-year Treasuries saw a muted response, with yields little changed at 4.22%. The yield on two-year notes fell three basis points to 3.70%.
Fed Bank of San Francisco President Mary Daly said policymakers will probably need to adjust rates in coming months to prevent further weakness in the labor market. Her Minneapolis counterpart Neel Kashkari said an economic slowdown may make a rate cut appropriate in the near term.
Meantime, Trump told European allies he’s planning to meet with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy as soon as next week in another bid to bring peace between the two countries. The US imposed an additional 25% tariff on Indian goods over its ongoing purchases of Russian energy.
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