Market Jitters: Trade Tensions and Earnings Stir U.S. Stocks
The S&P 500 hit a record-high close amid market volatility caused by U.S. trade policies and earnings reports from major companies. While Tesla and Alphabet showed gains, other stocks like GM suffered due to tariff impacts. Investors remain cautious as key tariff deadlines approach and trade discussions continue.
The S&P 500 managed to reach a record-high close despite significant fluctuations in the market. General Motors experienced an 8.1% drop following a $1 billion tariff impact on quarterly results, adding to investor unease about U.S. President Trump's trade policies.
Meanwhile, Tesla rose 1.1% ahead of its earnings report, aligning with Alphabet's 0.65% gain amid optimism driven by artificial intelligence investments. Trade policies remain unpredictable as deadlines approach, keeping the market on edge.
Philip Morris reported disappointing revenue, affecting market perception further. While a Federal Reserve interest-rate cut appears unlikely in the immediate future, speculation remains for possible adjustments come September. The S&P 500 sees continued momentum amidst these mixed developments.
(With inputs from agencies.)
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