Evening Market Recap

Sophia Reyes · July 17, 2025 4:26 PM

Market Snapshot for Thursday 7-17-2025

Dow Jones – 44,484.49 (+0.52%)
NASDAQ – 20,884.27 (+0.74%)
S&P 500 – 6,297.36 (+0.54%)

Market Performance

U.S. stocks hit new record highs on Thursday as investors weighed a fresh batch of earnings and monitored President Trump’s ongoing criticism of Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average (^DJI) rose 0.5%, while the S&P 500 (^GSPC) gained 0.7%, closing just below the 6,300 level and marking a new all-time high. The Nasdaq Composite (^IXIC) also climbed 0.7%, setting another record.

The S&P 500 and Nasdaq extended their record streaks amid a mix of market drivers, including corporate earnings, economic reports, Trump’s tariff policies, and his continued pressure on the Fed over interest rates.

Economic Takeaways –

• Retail sales bounced back in June, suggesting that President Trump’s tariffs haven’t yet had a major effect on consumer spending. The latest figures offer another glimpse into the resilience of the American consumer, whom major banks this earnings season have described as doing just “fine.”
• The Department of Labor reported Thursday morning that 221,000 initial jobless claims were filed for the week ending July 12. After rising in May, unemployment claims have now fallen to their lowest level in three months.
• Mortgage rates increased for the second straight week. The average rate on a 30-year fixed mortgage was 6.75% through Wednesday, up from 6.68% the week prior, according to Freddie Mac data. The average 15-year fixed mortgage rate was 5.92%, up from 5.86% last week.
• As of now, over 45 S&P 500 companies have reported earnings this season, with 87% beating consensus estimates, according to FactSet.
• The CME FedWatch Tool placed the odds of a Federal Reserve rate cut in July at less than 3%, while the chance of at least one cut by September stood at around 55% early Thursday.
• The U.S. dollar is strengthening against major global currencies.

Gold –

• Gold fell as traders assessed the latest data that pointed to economic resilience in the US and the future of Federal Reserve Chair Jerome Powell.

Oil –

• Oil prices rose on Thursday as analysts pointed to low inventories and renewed Middle East risks as factors supporting the market.
• Brent crude futures were up 84 cents, or 1.23%, to $69.36 a barrel by 1:39 p.m. ET.
• S. West Texas Intermediate crude futures rose $1.08, or 1.63%, to $67.46 a barrel.

Crypto –

• Bitcoin, which hit all-time highs earlier this week amid strong inflows into spot ETFs and optimism surrounding congressional crypto legislation, held steady on Thursday. The cryptocurrency remained above $118,500 per token.
• Shares of stablecoin issuer Circle (CRCL) climbed during the session as the Genius Act was expected to come up for a vote later in the afternoon.
• At the same time, lawmakers were also set to debate the Clarity Act, which outlines a regulatory framework for payment stablecoins and other digital assets. “This is a moment in time when the stars are aligned to pass these bills,” said Pat Daugherty, partner at Foley & Lardner, who has provided input on the legislation to congressional staff and lawmakers.

Netflix Earnings are In

Netflix (NFLX) delivered second-quarter results that topped Wall Street expectations on both revenue and earnings, while also raising its full-year revenue outlook.

For Q2, the company reported revenue of $11.08 billion, slightly above the $11.06 billion expected by analysts and up from $9.56 billion a year ago. Netflix had previously guided to $11.04 billion in revenue. Earnings per share came in at $7.19, beating estimates of $7.09 and significantly higher than the $4.88 reported last year. The company had forecasted EPS of $7.03.

Looking ahead, Netflix projected third-quarter revenue of $11.53 billion, above the $11.28 billion anticipated by analysts. It also expects Q3 earnings of $6.87 per share, topping forecasts of $6.70.

For full-year 2025, Netflix raised its revenue forecast to a range of $44.8 billion to $45.2 billion, up from its previous outlook of $43.5 billion to $44.5 billion. The company also said it expects ad revenue to double next year, reaching approximately $3 billion.

US to Hit Chinese Battery Material With 93.5% Tariff

The US Commerce Department has issued preliminary anti-dumping duties of 93.5% on graphite imports from China, determining that the key battery material is being unfairly subsidized.

The move follows a December petition from a trade group representing American graphite producers, which urged federal agencies to investigate alleged violations of anti-dumping laws by Chinese suppliers. According to the American Active Anode Material Producers, the new duties—when combined with existing tariffs—will push the total effective rate to 160%.

The measure marks another escalation in global EV supply chain tensions, already strained by Beijing’s restrictions on exports of certain minerals and battery technologies. It could also drive up production costs for automakers who rely on graphite for electric vehicle batteries.

“This basically wipes out profits for one or two entire quarters for the Korean battery makers,” said Sam Adham, head of battery materials at consultancy CRU Group. He added that the 160% tariff would raise costs by about $7 per kilowatt-hour for a typical EV battery cell, nearly offsetting one-fifth of the battery manufacturing tax credits provided under the Inflation Reduction Act and upheld in President Trump’s budget legislation.

Tesla Inc. and key battery partner Panasonic Inc. had lobbied against the new tariff, saying they depend on Chinese graphite due to domestic supply falling short of both required quality and volume. Tesla shares dropped as much as 1.4% on Thursday.

Investors Reach Settlement in Lawsuit Against Meta CEO Mark Zuckerberg and Other Executives

A settlement has been reached in a class action lawsuit brought by investors against Meta (META) CEO Mark Zuckerberg and other current and former executives, following allegations tied to the Cambridge Analytica data privacy scandal.

The lawsuit, which sought billions of dollars to cover fines and legal fees, was resolved on what was scheduled to be the second day of trial in Delaware’s Court of Chancery. Details of the agreement were not disclosed, and no filings related to the settlement were available at the time of the announcement.

Lawyers for both sides left the courthouse without offering any statements. A Meta spokesperson also declined to comment, saying the company had “no comment.”

Investors claimed Meta failed to properly inform Facebook users about the risk that their personal data could be misused by Cambridge Analytica, the political consulting firm that backed Donald Trump’s 2016 presidential campaign. According to shareholders, Facebook repeatedly violated a 2012 consent order with the Federal Trade Commission, under which it had pledged to stop collecting and sharing personal information without user consent.

The lawsuit alleged Facebook went on to sell user data to commercial partners in violation of the FTC order and removed required disclosures from its privacy settings.

As a result of the scandal, Facebook agreed to pay a $5.1 billion fine to the FTC. The company also faced major penalties in Europe and reached a $725 million privacy settlement with affected users.

Nvidia and University of Bristol Launch UK’s Fastest AI Supercomputer

Nvidia (NVDA) and the University of Bristol have officially launched the UK’s most powerful AI supercomputer, Isambard-AI, as part of a broader effort to establish sovereign AI infrastructure—systems built specifically for individual nations.

Touted as not only the fastest supercomputer in the UK but also among the most energy-efficient worldwide, Isambard-AI is powered by 5,448 Nvidia Grace Hopper superchips and housed in liquid-cooled HPE server cabinets, each loaded with 440 GPUs. The machine will support a range of research efforts, including materials science, drug discovery, and the development of large language models tailored to regional languages such as Welsh.

“Every industrial revolution begins with infrastructure. AI is the essential infrastructure of our time, just as electricity and the internet once were,” said Nvidia CEO Jensen Huang. “With bold leadership from Europe’s governments and industries, AI will drive transformative innovation and prosperity for generations to come.”

 Top Gainers

Several stocks experienced significant gains. Some of the top gainers included:

• Sable Offshore Corp. (SOC) moved higher by 28.41%
• Pagaya Technologies, Ltd. (PGY) soared by 25.37%
• QuantumScape Corp. (QS) exploded 19.82%
• Sarepta Therapeutics, Inc. (SRPT) surged 19.53%
• Newegg Commerce, Inc. (NEGG) rose 17.22%
• ai Holdings, Inc. (BBAI) moved up 15.45%
• D-Wave Quantum, Inc. (QBTS) rose 13.78%
• AAR Corp. (AIR) spiked 13.65%
• Archer Aviation, Inc. (ACHR) moved up 10.84%
• Nektar Therapeutics (NKTR) surged 10.48%

Top Losers

The top US stock losers today, based on percentage change included:

• Elevance Health, Inc. (ELV) moved lower 12.22%
• Sonic Automotive, Inc. (SAH) moved down 10.41%
• Oscar Health, Inc. (OSCR) sank 9.64%
• Group 1 Automotive, Inc. (GPI) fell 8.64%
• Abbott Laboratories (ABT) was down 8.52%
• Hesai Group (HSAI) sank 8.23%
• Ashbury Automotive Group (ABG) plummeted 7.49%
• Lithia Motors, Inc. (LAD) down 7.12%
• Penske Automotive Group (PAG) dragged 6.47%
• Bitmine Immersion Technologies (BMNR) down 6.41%

Notables

• TSMC (TSM) posted a record quarterly profit early on Thursday, citing stronger and stronger AI demand.
• Meta (META) CEO Mark Zuckerberg is no longer the second-richest person in the world. That title now belongs to Oracle (ORCL) founder Larry Ellison.
• OpenDoor Technologies (OPEN) shares have surged in recent weeks, jumping over 11% on Wednesday alone and pushing the stock’s one-month gain close to 200%.
• Nvidia (NVDA) and the University of Bristol debuted the UK’s Isambard-AI supercomputer on Thursday.
• Uber (UBER) is betting big on robotaxis, with pure-play electric vehicle maker Lucid (LCID) as its partner.
• United Airlines (UAL) dipped even though its Q2 earnings per share came in above Wall Street estimates and its forward guidance aligned with analyst expectations, revenue slightly missed the mark. United noted that business travel demand improved in early July amid easing geopolitical and macroeconomic uncertainties and emphasized that its current outlook remains conservative.
• Abbott Laboratories (ABT) fell despite exceeding analysts’ expectations on both earnings and revenue. Reuters reported robust demand for medical devices, but the company’s Q3 earnings forecast came below consensus.
• PepsiCo (PEP) jumped after topping earnings estimates. The company now projects a smaller decline in 2025 adjusted EPS, helped by favorable currency movements.
• Starbucks (SBUX) slipped after Jefferies downgraded the stock to Underperform from Hold, cautioning that recent gains may have outpaced any near-term improvements in company fundamentals.
• Sarepta Therapeutics (SRPT) soared following its announcement of a cost-cutting plan that includes reducing its workforce by 36%. The company also added a black box warning to its gene therapy, Elevidys—a move analysts say could lessen the risk of market withdrawal following two reported patient deaths.
• Archer-Daniels-Midland (ADM) lost after former President Trump claimed Coca-Cola (KO) agreed to switch to real cane sugar in its U.S. beverages. ADM is a major producer of high-fructose corn syrup used in some Coke products, and the move could potentially impact its sales.

What to Watch Ahead

On July 18, investors will be watching for June housing starts, June building permits, the preliminary July reading of the University of Michigan Consumer Sentiment Index, and earnings reports from 3M (MMM) and SLB (SLB).

July 21 brings the release of June leading indicators, along with expected earnings from Cleveland-Cliffs (CLF), Domino’s Pizza (DPZ), and Steel Dynamics (STLD).

On July 22, several major companies are set to report, including Coca-Cola (KO), General Motors (GM), Halliburton (HAL), Lockheed Martin (LMT), Northrop Grumman (NOC), Philip Morris (PM), Sherwin-Williams (SHW), Capital One (COF), and Texas Instruments (TXN).

July 23 will feature existing home sales data, alongside a wave of earnings from AT&T (T), Freeport-McMoRan (FCX), GE Vernova (GEV), General Dynamics (GD), Hasbro (HAS), Hilton Worldwide (HLT), Alphabet (GOOGL), Chipotle (CMG), CSX (CSX), IBM (IBM), T-Mobile (TMUS), and Tesla (TSLA).

Finally, on July 24, markets will focus on the European Central Bank’s interest rate decision, June new home sales figures, and earnings reports from American Airlines (AAL), Dow (DOW), Honeywell (HON), Southwest Airlines (LUV), Union Pacific (UNP), Intel (INTC), and Newmont Mining (NEM).