Market Snapshot for Thursday 7-24-2025
S&P 500 – 6,363.35 (+0.070%)
Dow Jones – 44,693.91 (-0.70%)
NASDAQ – 21,057.96 (+0.18%)
Market Performance
U.S. stocks ended Thursday on a mixed note, with the S&P 500 (^GSPC) recording its fourth consecutive record close, fueled by optimism around tech earnings. Alphabet’s (GOOG) results highlighted artificial intelligence as a major driver of future growth.
The Nasdaq Composite (^IXIC), heavily weighted toward tech, edged up 0.2% to finish at a new all-time high. Meanwhile, the S&P 500 added 0.1%. In contrast, the Dow Jones Industrial Average (^DJI) slipped 0.6%, weighed down by a decline in IBM (IBM) shares following its earnings report.
International markets were generally positive overnight.
Economic Takeaways –
- The EU and U.S. are reportedly nearing a deal that would set a 15% tariff on most European imports—half the 30% rate that had previously been threatened, according to media reports.
- Data released Thursday morning by the Department of Labor showed 217,000 initial jobless claims were filed for the week ending July 19, a decrease of 4,000 from the previous week. That marks the lowest level of weekly claims since the week of April 12. After spiking in May, jobless claims have steadily declined through the early weeks of summer.
- The Nasdaq Composite ($COMP) closed above 21,000 for the first time Wednesday while the Dow Jones Industrial Average ($DJI) clawed above 45,000.
- The S&P 500 had its 12th record close this month.
- So far, 88% of S&P 500 companies that have reported earnings have beaten consensus EPS estimates, while 67% surpassed revenue forecasts.
- The CME FedWatch Tool showed less than a 3% chance of a Fed rate cut next week as of early Thursday, with a 64% chance of at least one cut by September.
Gold –
- Gold prices fell for a second straight session on Thursday, as signs of easing global trade tensions dampened demand for safe-haven assets.
- Spot gold was down 0.5% at $3,370.69 per ounce, by 01:45 p.m. ET (1745 GMT). U.S. gold futures settled 0.7% lower at $3,373.5.
Oil –
- Crude oil prices rose late Thursday night, driven by renewed optimism over U.S. trade negotiations and an unexpected drop in U.S. oil inventories, which helped ease fears of a global economic slowdown.
- Brent crude (BZ=F) futures gained 24 cents, or 0.4%, to $68.75 a barrel by 0032 GMT. U.S. West Texas Intermediate (CL=F) crude futures climbed 25 cents, or 0.4%, to $65.50 per barrel.
Crypto –
- The price of Bitcoin hovered around $117,000.
- In its earnings report Wednesday, Tesla said its holdings of digital assets rose to $1.24 billion from $722 million a year ago, reflecting bitcoin’s rally.
Intel Shares Climb on Q2 Revenue Beat, Announces 15% Workforce Reduction
Intel (INTC) reported its second-quarter results Thursday after the market close, topping revenue expectations but missing on earnings per share due to impairment charges. The company also revealed plans to reduce its workforce by 15%, aiming to bring its headcount down to around 75,000 by year-end.
Despite the EPS miss, Intel offered a strong revenue outlook for the third quarter, forecasting between $12.6 billion and $13.6 billion—at or above Wall Street’s estimate of $12.6 billion.
Shares of Intel rose more than 2% in after-hours trading following the announcement.
Fed Faces New Lawsuit Over Closed-Door Policy Meetings
The Federal Reserve is facing fresh legal pressure after a lawsuit was filed Thursday in Washington, D.C., federal court, accusing the central bank of violating a 1976 transparency law by holding its monetary policy meetings in private, Yahoo Finance’s Jennifer Schonberger reports.
Filed by Azoria Capital, the lawsuit seeks a temporary restraining order that would force the Federal Open Market Committee (FOMC) to open its upcoming meetings—scheduled for next Tuesday and Wednesday—to public view. The firm argues that Americans have a legal right to witness the Fed’s interest rate deliberations.
The lawsuit arrives as the Fed contends with mounting political scrutiny. President Trump, a vocal critic of the central bank’s spending and policy decisions, is expected to tour the Fed’s $2.5 billion renovation project on the National Mall today alongside White House allies. The administration has repeatedly criticized the project’s ballooning costs.
Azoria Capital is led by CEO James Fishback, a Trump ally who previously advised the Department of Government Efficiency (DOGE). His firm’s legal challenge adds to the growing tensions between the Fed and the White House over transparency and fiscal oversight.
Apple’s iOS 26 Introduces Major iPhone Overhaul with Bold New Design
Apple (AAPL) is rolling out its most dramatic iPhone update in years with iOS 26, now available as a public beta. The software introduces a striking new interface and deeper integration of AI, signaling a bold shift in Apple’s mobile strategy.
The standout feature of iOS 26 is its new “Liquid Glass” design—a visually immersive aesthetic featuring translucent elements that give the impression of light bending around buttons, sliders, and folders. While visually compelling, the update has sparked mixed reactions, prompting Apple to reduce some of the transparency after early users raised readability concerns.
Beyond the fresh look, iOS 26 delivers functional upgrades as well. The Phone and Messages apps have been enhanced, and Apple’s AI-powered Visual Intelligence gets a boost. A new Games app has also been added, serving as a centralized hub for casual gaming.
Despite the sweeping changes, most users won’t find the interface difficult to navigate. The layout and app structure remain familiar, though the visuals may take some getting used to. For those who aren’t fans of the new design, Apple offers customization options to tweak colors and icon tints.
However, it’s unlikely the software alone will drive new iPhone sales. Consumers typically upgrade for hardware reasons—like improved cameras or battery life. That said, iOS 26 could be laying the groundwork for future devices. According to Bloomberg’s Mark Gurman, Apple is expected to release a slimmer “iPhone 17 Air” this fall, potentially paving the way for a future foldable model to compete with Samsung and other Android leaders.
By unifying the design language across iPhone, iPad, and Mac, Apple is setting the stage for a new era of device integration—making iOS 26 more than just a cosmetic refresh, but a strategic shift ahead of major hardware changes.
McGraw Hill Opens Flat in Public Debut, Valued at $3.25 Billion
McGraw Hill made its return to public markets on Thursday, opening at $17 per share — the same as its IPO price — and landing a valuation of $3.25 billion. The flat debut signaled a lukewarm investor response despite an otherwise optimistic environment for new listings.
While IPO activity has surged after a slump earlier this year due to tariff-related uncertainty, investors remain cautious and highly selective.
“As a resilient company, all of those macro factors are really interesting to see, but they have no bearing on our company. We know the time is right for us now,” said McGraw Hill CEO Simon Allen.
Other recent IPOs have seen mixed results. Shares of Advent-backed NIQ Global dipped 3.6% during its NYSE debut on Wednesday, while many companies continue to stay private to avoid volatile market conditions. In contrast, digital bank Chime and stablecoin issuer Circle enjoyed strong market debuts this week.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
- Bloom Energy Corp. (BE) moved higher by 22.95%
- West Pharmaceutical Services, Inc. (WST) soared by 22.78%
- ICON Public Limited Company (ICLR) exploded 16.15%
- TechnipFMC plc (FTI) surged 11.76%
- Oklo, Inc. (OKLO) rose 11.38%
- ASGN Incorporated (ASGN) moved up 11.26%
- Stevanato Group S.p.A. (STVN) rose 10%
- United Rentals, Inc. (URI) spiked 8.96%
- RPM International, Inc. (RPM) moved up 8.58%
- FirstService Corp. (FSV) surged 8.34%
Top Losers
The top US stock losers today, based on percentage change included:
- Iridium Communications, Inc. (IRDM) moved lower 22.09%
- LKQ Corp. (LKQ) moved down 17.82%
- Dow, Inc. (DOW) sank 17.45%
- Selective Insurance Group, Inc. (SIGI) fell 17.04%
- Molina Healthcare, Inc. (MOH) was down 16.84%
- Mattel, Inc. (MAT) sank 16.39%
- STMicroelectronics N.V. (STM) plummeted 15.86%
- Orla Mining Ltd. (ORLA) down 14.73%
- Goosehead Insurance (GSHD) dragged 13.93%
- Chipotle Mexican Grill, Inc. (CMG) down 13.34%
Notables
- Tesla (TSLA) shares fell 8% after the electric vehicle maker missed earnings and revenue expectations for the second quarter. CEO Elon Musk warned of “a few rough quarters ahead” as the company faces growing challenges.
- Southwest Airlines (LUV) shares plunged more than 12% on Thursday after the company reported earnings that fell short of expectations. The drop deepened as the airline’s earnings call with investors got underway. American Airlines stock (AAL) also went lower.
- T-Mobile (TMUS) shares rose 5% in premarket trading Thursday after the company topped analyst expectations with its latest earnings report. CEO Mike Sievert told Yahoo Finance’s executive editor Brian Sozzi that T-Mobile’s consistent value-focused strategy continues to drive market share gains.
- Wolfspeed (WOLF) shares jumped 18% before the bell, buoyed by investor optimism following the recently announced U.S.-Japan trade agreement. The deal supports Renesas’ electric vehicle chip production, boosting hopes for expanded partnerships with automakers such as Jaguar Land Rover. Wolfspeed stock is up 13% over the past five days.
- Chipotle Mexican Grill (CMG) fell 10% in premarket action after reporting another quarter of declining sales. The fast-casual chain is navigating a challenging consumer landscape under new leadership, facing its toughest operating environment in years.
- Shares of American Eagle Outfitters, Inc. (AEO) surged more than 25% in after-hours trading Thursday night, climbing from a closing price of $10.82 to a high of $13.80 by 10:57 p.m. EDT.
What to Watch Ahead
Tomorrow we have June durable orders and expected earnings from Aon (AON) and HCA Healthcare (HCA) on deck.
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