The S&P 500 and Nasdaq closed at record highs in a volatile trading session, despite choppy market activity throughout the day.
Why it matters: The movement comes as U.S. and European Union negotiators announced a deal to impose a 15% tariff on certain goods, a significant step that helped avert a broader trade war.
The details:
- The S&P 500 edged up by 0.02%, while the Nasdaq gained 0.33%.
- The Dow Jones Industrial Average fell by 0.14%.
- Shares of Nike rose following an upgrade from JP Morgan.
- Chinese and U.S. officials have resumed trade talks, aiming to resolve lingering issues that have impacted global trade dynamics.
In other news, Cadence Design Systems has agreed to plead guilty and pay more than $140 million to settle U.S. charges.
Market analysis:
- Traders on the floor of the New York Stock Exchange (NYSE) have been closely watching developments in trade negotiations and regulatory news.
- The odds of a change in the federal funds rate at the upcoming Federal Reserve meeting on July 30 remain uncertain, with futures contracts indicating mixed expectations.
As investors look ahead, this week promises to be eventful with corporate earnings reports and closely watched economic data.
What to watch:
- Four major tech companies—Meta, Microsoft, Amazon, and Apple—are set to release their second-quarter earnings, accounting for a significant portion of the S&P 500’s market weight.
- The Federal Reserve is expected to make a decision on interest rates, with many analysts predicting that the Fed will hold rates steady before potentially initiating a rate-cutting cycle later in the year.
- Commerce Department data due later in the week will provide an initial reading on second-quarter economic growth.
Recent from X
#MarketAlert | US Market opens: S&P 500, Nasdaq 100 open flat
Nike also in focus #NASDAQ100 #SNP500 #Nike #USA #StockMarket pic.twitter.com/751XaCLXWo
— ET NOW (@ETNOWlive) July 28, 2025
US, EU ink trade deal with 15% tariff – detailshttps://t.co/5Py6194xiV
— ET NOW (@ETNOWlive) July 28, 2025
Good Morning from Germany, where export-focused stocks are starting to recover some of their underperformance following the new trade deal.
The DAXplus Export Strategy Index – which tracks the ten biggest exporters from the DAX and MDAX – rose by 1%, twice as much as the main DAX… pic.twitter.com/vfMYFpSofH
— Holger Zschaepitz (@Schuldensuehner) July 28, 2025
U.S.–EU TRADE DEAL SUMMARY
🔸 No formal deal yet, just a joint statement expected soon.
🔸 15% U.S. tariffs on most EU goods, including cars.
🔸 Zero tariffs on key items like aircraft and chip equipment.
🔸 EU to lower some tariffs on U.S. farm and industrial goods later.…
— *Walter Bloomberg (@DeItaone) July 28, 2025
