Market Highlights

Wall Street ended the week on a positive note, with stocks hitting fresh all-time highs amid solid earnings and hopes for US trade deals. After an uneventful meeting between Donald Trump and Jerome Powell, the Treasury market barely budged. The dollar climbed. In the run-up to the busiest week for corporate results, the S&P 500 rose for a fifth straight day, approaching 6,400. While the rally has stoked concerns about inflated prices amid a rush to risky corners and a revival of the meme-stock mania, it’s been hard to bet against the bullish trend. A closely watched gauge of equity volatility - the VIX - closed below 15. European stocks and US equity futures climbed after the European Union reached a trade deal with President Donald Trump, further easing fears of a damaging trade war.

Stocks closed at all-time highs as Alphabet Inc.’s results showed solid demand for artificial intelligence, bolstering confidence in the technology that has powered the bull market. Signs of jobs strength ahead of next week’s Federal Reserve decision lifted Treasury yields. Following a 28% surge from its April lows, the S&P 500 eked out a gain while notching its 10th record in 19 trading days. Google’s parent AI optimism fueled a rally in companies like Nvidia Corp., which hit a fresh peak. Tesla Inc. sank 8.2% as Elon Musk warned of difficult times ahead. In late hours, Intel Corp. gave an upbeat sales forecast as personal-computer demand picked up A seven-day global stock rally lost steam in Asia, as uncertainty over the Federal Reserve’s rate- cut trajectory sapped investor appetite for risk

A record-breaking run in stocks gained fuel as the US reached a trade agreement with Japan while speculation grew about a similar deal with the European Union. Treasuries halted a five-day rally and the dollar fell as demand for haven assets waned. The S&P 500 hit all-time highs on news reports the EU and the US are progressing toward an agreement that would set a 15% tariff for most products. In late hours, Alphabet Inc. reported better-than-expected revenue, but said capital expenditures will be higher than previously forecast. Tesla Inc.’s earnings fell short of Wall Street’s estimates. Global equities continued their rally as bulls drew fresh conviction from signs the US may strike more trade deals soon after clinching a pact with Japan

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. The record-breaking run in global stocks got fresh fuel after the US reached a trade deal with Japan, easing concern about the tariff war as traders turn their attention to earnings from US tech giants

The start of a busy week for corporate earnings sent stocks toward a fresh record, with traders looking for signs of resilience amid tariff risks. Treasury yields and the dollar fell. The yen climbed as Japan’s Prime Minister Shigeru Ishiba said he would carry on after an election setback. In the absence of relevant economic data, Wall Street will remain squarely focused on a slate of company outlooks. The S&P 500 topped 6,300. Two members of the “Magnificent Seven” megacaps — Tesla Inc. and Google parent Alphabet Inc. — are due to report results this week. European stocks dipped and US equity futures drifted as investors await earnings from megacap tech companies this week for clues on how corporations are withstanding tariffs.

Bond yields fell as Federal Reserve Governor Christopher Waller reiterated his case for a July rate cut, while data showed consumer expectations for inflation improved. Stocks wavered amid earnings. President Donald Trump signed the stablecoins bill in a win for the crypto industry. Short-dated Treasuries led gains as Waller hinted he would dissent if his colleagues vote to hold rates steady in July. Bonds also rose as University of Michigan data showed consumers expect prices to increase at an annual rate of 4.4% over the next year, down from 5% in the prior month. The S&P 500 was little changed. The dollar edged lower, but notched an advance for the week. The yen recouped some of last week’s losses as Japan’s Prime Minister vowed to stay in power even after suffering a defeat in the weekend’s upper-house election

Signs that the world’s largest economy is holding up lifted stocks a day after speculation about the fate of Federal Reserve Chair Jerome Powell rattled markets. The dollar climbed. Short-dated bonds fell. The crypto industry got a major win after Congress passed the stablecoin bill. Economically sensitive shares outperformed after solid retail sales and a drop in jobless claims, with the S&P 500 briefly topping 6,300 and closing at an all-time high. The Russell 2000 gauge of small firmsrose 1.2%. US and European equity-index futures advanced, indicating a record-extending global stock rally may have further to run as strong economic data eased concerns about the health of the US economy.

Speculation about the fate of Federal Reserve Chair Jerome Powell set off a short-lived tempest in financialmarkets Wednesday, with volatility mostly quelled after President Donald Trump said he has no plans to firethe central bank chief and was only discussing it in “concept.” The S&P 500 bounced as Trump said he is “not planning on doing anything” to remove Powell, after a White House official said the president was likely to seek the Fed Chair’s ouster soon. Treasury two-year yields, which are more sensitive to imminent Fed moves, slid fivebasis points to 3.89%. The dollar halted a four-day advance. Softer-than-estimated inflation data also helped fuel the moves on Wednesday, reinforcing bets on Fed rate cuts in 2025. The dollar recouped some of Wednesday’s losses and Treasuries slipped after markets had a volatile session on speculation about the future of Federal Reserve Chair Jerome Powell.

Relatively tame inflation data failed to ease Wall Street’s worries about the impacts of tariffs, with initial rallies in stocks and bonds sputtering on bets the Federal Reserve will keep rates on hold for now. Tech shares jumped on news Nvidia Corp. and Advanced Micro Devices Inc. will resume some chip sales to China, with traders also parsing results from banks. The S&P 500 retreated after earlier topping 6,300. A gauge of US financialgiants sank as Wells Fargo & Co. cut its guidance for net interest income. JPMorgan Chase & Co. dropped even as investment bankers eked out a surprise gain. Citigroup Inc. hit the highest since 2008 on a stock- buyback plan. While short-dated Treasuries led losses, longer maturities also slid - with 30-year yields topping 5%. The dollar rose 0.4%. Equity-index futures retreated as traders trimmed interest-rate cut bets by the Federal Reserve after US inflation data showed companies are beginning to pass some tariff-related costs to consumers.

Wall Street traders parsing Donald Trump’s latest tariff remarks sent stocks mildly higher, with the market gearing up for results from big banks and inflation data. Bond yields and the dollar edged up. Oil fell as the US president’s plan to pressure Russia into a ceasefire with Ukraine didn’t include new measures aimed directly at hindering Moscow’s energy exports. The S&P 500 hovered near its record as Trump indicated he’s open to trade talks, even as he insisted the letters threatening new rates are “the deals.” While Corporate America is bracing for its weakest earnings season since mid-2023, lower estimates could be easier for companies to beat. As US financialgiants kick off earnings season Tuesday, strategists say subdued profit expectations are setting the stage for their sizzling run to continue. Stock-index futures advanced after Nvidia Corp. said it would restart some chip sales to China, while investors looked ahead to US inflation data to assess the fallout from President Donald Trump’s trade war.