Stock market today: S&P 500, Nasdaq hit records, Dow closes in as trade hopes lift stocks before Tesla, Google
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Stock market today: S&P 500, Nasdaq hit records, Dow closes in as trade hopes lift stocks before Tesla, Google
The Dow Jones Industrial Average rose more than 1.1%, or roughly 450 points, and was just four points shy of its first record close of 2025. The US pact with Japan places a 15% tariff on imports from the country, President Trump said — a step down from the threatened 25% duties set to hit next week. The major-partner breakthrough lifted optimism that more trade deals will be sealed before Aug. 1.
The Dow Jones Industrial Average (^DJI) rose more than 1.1%, or roughly 450 points, and was just four points shy of its first record close of 2025. The S&P 500 (^GSPC) moved up almost 0.8%, and tech-heavy Nasdaq Composite (^IXIC) nudged up around 0.6%, with both once closing at at record levels.
The US pact with Japan places a 15% tariff on imports from the country, President Trump said — a step down from the threatened 25% duties set to hit next week. For its part, Tokyo will make $550 billion in US investment. “It’s a great deal for everybody,” Trump said late Tuesday.
Read more: The latest on Trump’s tariffs
The major-partner breakthrough lifted optimism that more trade deals will be sealed before Aug. 1, when Trump’s sweeping tariffs kick in. While negotiations with the European Union, India, and other large partners have dragged of late, reports on Wednesday suggested a deal with the EU was taking shape, while Treasury Secretary Scott Bessent touted progress with China.
Economists believe that if tariffs then average out at 15%, that would be manageable for the global economy, limiting damage.
After the bell on Wednesday, Tesla (TSLA) reported a slight earnings and revenue miss in the second quarter, but said its “more affordable” model was still slated for 2025 production.
Meanwhile, Google parent Alphabet (GOOG, GOOGL) beat expectations on the top and bottom lines on the strength of its advertising and cloud businesses. But the company said capital expenditures will climb to $85 billion. Google previously projected $75 billion.
Read more: Full earnings coverage in our live blog
LIVE COVERAGE IS OVER
25 updates
Stock market today: S&P 500, Nasdaq hit records, Dow closes in as trade hopes lift stocks before Tesla, Google
The Dow Jones Industrial Average rose more than 1.1%, or roughly 450 points, and was just four points shy of its first record close of 2025. The US pact with Japan places a 15% tariff on imports from the country, President Trump said — a step down from the threatened 25% duties set to hit next week. The major-partner breakthrough lifted optimism that more trade deals will be sealed before Aug. 1.
The Dow Jones Industrial Average (^DJI) rose more than 1.1%, or roughly 450 points, and was just four points shy of its first record close of 2025. The S&P 500 (^GSPC) moved up almost 0.8%, and tech-heavy Nasdaq Composite (^IXIC) nudged up around 0.6%, with both once closing at at record levels.
The US pact with Japan places a 15% tariff on imports from the country, President Trump said — a step down from the threatened 25% duties set to hit next week. For its part, Tokyo will make $550 billion in US investment. “It’s a great deal for everybody,” Trump said late Tuesday.
Read more: The latest on Trump’s tariffs
The major-partner breakthrough lifted optimism that more trade deals will be sealed before Aug. 1, when Trump’s sweeping tariffs kick in. While negotiations with the European Union, India, and other large partners have dragged of late, reports on Wednesday suggested a deal with the EU was taking shape, while Treasury Secretary Scott Bessent touted progress with China.
Economists believe that if tariffs then average out at 15%, that would be manageable for the global economy, limiting damage.
After the bell on Wednesday, Tesla (TSLA) reported a slight earnings and revenue miss in the second quarter, but said its “more affordable” model was still slated for 2025 production.
Meanwhile, Google parent Alphabet (GOOG, GOOGL) beat expectations on the top and bottom lines on the strength of its advertising and cloud businesses. But the company said capital expenditures will climb to $85 billion. Google previously projected $75 billion.
Read more: Full earnings coverage in our live blog
LIVE COVERAGE IS OVER
25 updates