The S&P 500 and Nasdaq Composite closed at record highs on Monday, with the broad market index rising 0.14% to close at 6,305.60 and the tech-heavy Nasdaq climbing 0.38% to end at 20,974.17. The Dow Jones Industrial Average also rose 89 points, or 0.2%.
Earnings season is off to a strong start, with companies like Verizon beating expectations for the second quarter. The telecommunications giant posted adjusted earnings of $1.22 per share on revenue of $34.5 billion, exceeding analyst estimates.
Other notable movers included Domino’s Pizza, which saw its shares jump 3% in premarket trading after releasing its quarterly results, and Block, which surged 10% as it prepares to officially join the S&P 500 before the opening of trading on July 23.
The positive earnings reports were enough to propel stocks higher, despite some concerns about trade tensions. Commerce Secretary Howard Lutnick said Sunday that Aug. 1 is a “hard deadline” for countries to begin paying tariffs to the United States, but noted that “nothing stops countries from talking to us after August 1.”
The news was largely seen as a positive for stocks, with investors taking heart in the government’s commitment to addressing trade tensions. As a result, stocks futures opened little changed Sunday night.
Meanwhile, investors are keeping an eye on Tesla’s earnings report scheduled for release on Wednesday. The electric vehicle maker is expected to face challenges due to President Donald Trump’s tariffs and disappointing deliveries.
The Invesco S&P 500 High Beta ETF (SPHB) hit a new intraday all-time high, with stocks such as Albemarle and Super Micro leading the gain. Barclays upgraded Dollar Tree to overweight from equal weight on Monday, citing a cleaner growth story and strong momentum observed in Q1.
In Asia-Pacific markets, Hong Kong’s Hang Seng Index rose 0.68% to close at 24,994.14, while mainland China’s CSI 300 index increased by 0.67%. Australia’s S&P/ASX 200 benchmark fell 1.02% to end the day at 8,668.20.
Overall, the markets are seen as optimistic about earnings season and the government’s commitment to addressing trade tensions.
Source: https://www.cnbc.com/2025/07/20/stock-market-today-live-updates.html