The S&P 500 Index closed up 0.40% on Friday, achieving a new all-time high, alongside the Nasdaq 100 which rose 0.23%. Key contributing factors included stronger-than-expected quarterly earnings, with approximately 83% of S&P 500 companies surpassing profit estimates. The Dow Jones Industrials climbed 0.47%, while September E-mini S&P futures increased by 0.38%.
Intel’s stock dropped over 8% after reporting a surprising Q2 loss of $0.10 per share, falling short of the expected $0.01 profit, and announcing plans to reduce capital expenditures and cut staff by 15%. Charter Communications declined more than 18% due to its Q2 EPS missing consensus estimates.
On the economic front, U.S. capital goods new orders for June fell 0.7% month-over-month, contrary to projections of a 0.1% increase. Markets are also closely watching President Trump’s August 1 tariff deadline, with indications that tariffs could range from 15% to 50% for over 150 countries.
