The S&P 500 closed at a record-high on Tuesday as investors focused on recent quarterly reports and upcoming trade discussions. General Motors (GM) slumped 8.1% after reporting a $1 billion hit from tariffs, while Tesla rose 1.1%. Optimism about artificial intelligence spending underpinned gains in tech-heavy stocks.
The S&P 500 gained 0.06%, reaching 6,309.62 points, while the Nasdaq declined 0.39% to 20,892.69 points. The Dow Jones Industrial Average rose 0.40%. Nine of the 11 sector indexes climbed, led by healthcare and real estate.
Investors are watching for signs of progress in US trade discussions, with President Trump’s self-imposed deadline of August 1 looming. Tesla and Alphabet are set to report quarterly results this week.
“The market is consolidating recent gains,” said Ross Mayfield, an investment strategy analyst at Baird. “Some huge catalysts over the next week or two, including the August 1 tariff deadline.”
Source: https://www.reuters.com/business/sp-500-notches-record-high-close-gm-slumps-tariffs-bite-2025-07-22