Market Highlights

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.

Stocks fell from all-time highs as Donald Trump intensified his trade offensive, sending the dollar to its best week since February. Concerns about the potential inflationary impacts of tariffs weighed on Treasuries, while oil traders braced for US efforts to crimp Russian energy exports. Following a rally that drove the S&P 500 to its fifthrecord in nine trading days, equity bulls took a breather. While almost 400 shares in the benchmark retreated, gains in most megacaps pushed the market away from session lows. Kraft Heinz Co. climbed on news reports that the company is preparing to break itself up. The six biggest US banks are set to report earnings next week, with analysts predicting trading-revenue increases. Equity-index futures for the US and Europe retreated in a cautious start to the week after President Donald Trump dialed up trade tensions by announcing a 30% tariff on goods from the European Union and Mexico.

Relative calm enveloped Wall Street, with stocks rising as traders parsed a batch of corporate outlooks. Treasuries bounced from session lows as a $22 billion sale of 30-year bonds showed appetite for longer-term debt despite concerns about the US deficit and the impacts of tariffs. Just a few days ahead of the unofficial start of the earnings season that will bring results from big banks, an upbeat forecast from Delta Air Lines Inc. lifted the industry. The S&P 500 hit a record, approaching 6,300. Tesla Inc. jumped on plans to expand its Robotaxi service to California and Arizona. Nvidia Corp.’s value topped $4 trillion. The chipmaker’s chief Jensen Huang was said to meet with President Donald Trump before a planned trip to China.

A rally in several big techs spurred a rebound in stocks, with Nvidia Corp. briefly hitting $4 trillion. Treasuries climbed after a solid $39 billion sale. Brazil’s real tumbled as President Donald Trump said the US will impose a 50% tariff on imports from the South American nation. Equity traders brushed off trade angst to send the S&P 500 just a few points away from its record high. The CNN Fear & Greed Index is now signaling “extreme greed,” an indication of the market’s bullish momentum. A gauge of megacaps added 1.1%, with Nvidia extending this year’s surge to more than 20%. In another sign of risk appetite, Bitcoin topped $112,000 for the firsttime. US equity-index futures edged down along with the dollar after President Donald Trump dialed- up trade tensions once again with a 50% tariff on copper and issued a new round of letters imposing higher levies on countries.

Stocks failed to gain traction near all-time highs, with Donald Trump saying the August deadline for the start of reciprocal tariffs won’t be extended, despite hopes he’s open to trade talks. Copper surged as the US president called for a 50% tariff. Treasuries fell. Following a torrid run from April lows, the S&P 500 barely budged as traders remained on guard for headline risk. Copper producer Freeport-McMoRan Inc. rallied. A gauge of drugmakers whipsawed as Trump indicated he could offer pharmaceutical manufacturers at least a year before applying a 200% tariff on foreign-made products. In megacaps, Tesla Inc. climbed while Amazon.com Inc. fell at the start of its Prime Day sales event. Copper futures fell in London after President Donald Trump sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on imports of the commodity.

Stocks fell from all-time highs and the dollar climbed after President Donald Trump began unveiling his tariff plans, with the US setting levies for nations such as Japan, South Korea and South Africa starting in August — triggering a selloff in their currencies. The S&P 500 slid about 1%, with megacaps leading losses as Tesla Inc. tumbled nearly 7% after Elon Musk announced he’s formed a political party, raising concern about his company’s outlook. Treasuries dropped, with longer-dated bonds underperforming. Emerging markets got hit as Trump warned he’d add extra tariffs on countries aligning with “the Anti-American policies of BRICS.” Asian shares posted modest gains as President Donald Trump left the door open for additional trade talks, providing a reprieve to markets after imposing new tariff rates on several countries.

US stock futures retreated Friday as American trade partners pushed for concessions ahead of a July 9 deadline to finalizetrade deals with the Trump administration. Meanwhile OPEC+ delegates meeting tomorrow will consider an increase of more than 411,000 barrels a day in August. Contracts for the US benchmark fell 0.6% after the gauge ended the trading week at a fresh all- time high. US President Donald Trump dialed up trade tensions after Thursday’s close, warning partners he may start setting levies of as much as 70% unilaterally as soon as today. Stocks declined and the dollar gained in a risk-averse start to the week, as President Donald Trump dialed up trade tensions saying the US will start issuing tariff letters to countries as soon as Monday.