Wall St rises on US-EU trade deal prospects; Intel falls
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Diverging Reports Breakdown
S&P 500 and Nasdaq hit records; Deckers soars 12%
The S&P 500 and Nasdaq hit record highs on Friday, lifted by optimism the U.S. could soon reach a trade deal with the European Union. Deckers Outdoor surged 12% after the maker of UGG boots and Hoka sneakers beat quarterly estimates, reporting strong demand in international markets. Wall Street has surged to record highs in recent weeks, thanks to upbeat quarterly earnings, trade deals with Japan and the Philippines, and expectations that the White House will cement more agreements to avoid elevated tariffs threatened by Trump. Next week, investors will focus on the US Federal Reserve, with policymakers on Thursday expected to hold interest rates steady as the central bank weighs the impact of tariffs on inflation. The Dow Jones Industrial Average was up 0.48% at 44,906.51 points.
Summary
Companies Intel slides on quarterly loss
US clears $8.4-billion Paramount-Skydance merger
EU, US could sign trade agreement this weekend
S&P 500 +0.46%, Nasdaq +0.35%, Dow +0.48%
July 25 (Reuters) – The S&P 500 and Nasdaq hit record highs on Friday, lifted by optimism the U.S. could soon reach a trade deal with the European Union, while Deckers Outdoor surged following a strong quarterly report.
European Commission President Ursula von der Leyen will meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework trade deal this weekend. Trump said earlier that the odds of a U.S.-EU trade deal were “50-50”.
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Deckers Outdoor (DECK.N) , opens new tab soared 12% after the maker of UGG boots and Hoka sneakers beat quarterly estimates, reporting strong demand in international markets.
Wall Street has surged to record highs in recent weeks, thanks to upbeat quarterly earnings, trade deals with Japan and the Philippines, and expectations that the White House will cement more agreements to avoid elevated tariffs threatened by Trump.
“The market has been anticipating that the deals are going to get done,” said Thomas Martin, Senior Portfolio Manager at GLOBALT in Atlanta. “Personally, I have a bit more skepticism. You’ve got to be careful, because if they don’t get done, there is more room for disappointment than there is upside.”
The S&P 500 was up 0.46% at 6,392.93 points. The Nasdaq gained 0.35% to 21,132.60 points, while the Dow Jones Industrial Average was up 0.48% at 44,906.51 points.
All three major indexes were on track for weekly gains.
Investors next week will focus on the U.S. Federal Reserve, with policymakers on Thursday expected to hold interest rates steady as the central bank weighs the impact of tariffs on inflation.
Traders see about a 60% chance of a rate cut in September, according to CME’s FedWatch tool.
Trump said on Friday he believed that Fed Chair Jerome Powell might be ready to lower rates. Trump made a to the Fed on Thursday after calling earlier in the week for failing to slash rates.
Health insurer Centene (CNC.N) , opens new tab rose almost 6% after saying it expects to deliver improved profitability in its three government-backed healthcare insurance businesses in 2026.
Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) , opens new tab by a 2.0-to-one ratio.
The S&P 500 posted 41 new highs and 6 new lows; the Nasdaq recorded 58 new highs and 48 new lows.
Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru, and by Noel Randewich in San Francisco; Editing by Pooja Desai and David Gregorio
Our Standards: The Thomson Reuters Trust Principles. , opens new tab
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Source: https://www.reuters.com/business/wall-st-rises-us-eu-trade-deal-prospects-intel-falls-2025-07-25/