Market Snapshot for Monday July-29th-2025
S&P 500 – 6,370.86 (-0.30%)
Dow Jones – 44,632.99 (-0.46%)
NASDAQ – 21,098.29 (-0.38%)
Market Performance
Stocks slipped Tuesday as trade talks with Beijing hit a roadblock, and investors turned cautious ahead of the Federal Reserve’s upcoming rate decision. The S&P 500 dipped 0.30% to close at 6,370.86, while the Nasdaq Composite lost 0.38%, finishing at 21,098.29. Earlier in the day, both indexes reached new all-time highs before retreating. The Dow Jones Industrial Average declined 204.57 points, or 0.46%, to 44,632.99. A wave of late day selling dragged the S&P 500 to its session low in the final hour of trading.
Economic Takeaways –
- Job openings slipped in June to their lowest level since March, the Bureau of Labor Statistics reported Tuesday.
- The U.S. dollar is strengthening against a trade-weighted basket of currencies, building on yesterday’s momentum, though it remains down roughly 9% year-to-date.
- U.S. government bonds are seeing modest buying, with the 10-year Treasury yield down 2 basis points so far today. Meanwhile, oil prices are up about 1%, though they continue to trade within a tight $65–$70 range.
- Trade negotiations between the U.S. and Canada remain difficult, according to statements from both President Trump and Canadian officials, though discussions are ongoing this week in hopes of a last-minute breakthrough. Canada has acknowledged that any agreement will likely include elevated U.S. tariffs, but is working to secure exemptions or reduced rates for key industries including autos, steel, aluminum, and potentially copper.
- U.S. Trade Representative Greer cautioned that further talks with India are necessary to avoid the imposition of higher tariffs later this week. Negotiations have also resumed with Cambodia and Thailand.
- In Europe, Treasury Secretary Bessant is attending a second day of talks with a Chinese trade delegation in Stockholm. The U.S. is reportedly pressing China to commit to significant purchases of American goods and is open to extending the current deadline by 90 days to allow more time to finalize a deal.
Gold –
- Gold prices edged higher on Tuesday as investors awaited the outcome of U.S.-China trade talks and the Federal Reserve’s policy meeting.
- Spot gold rose 0.4% to $3,327.69 per ounce, by 01:46 p.m. ET (1746 GMT). Prices hit their lowest point since July 9 on Monday.
- U.S. gold futures settled 0.4% higher at $3,324.
Oil –
- Crude prices are rebounding as traders breathe a sigh of relief over easing of trade tensions and President Donald Trump increasing pressure on Russia over its war in Ukraine.
- WTI climbed an additional $2.50 or 3.75% Tuesday, closing at $69.21, the highest level since June 20.
Crypto –
- Bitcoin hovered under $118,000 a coin.
- The U.S. Securities and Exchange Commission (SEC) has officially approved in-kind creation and redemption for crypto asset exchange-traded products (ETPs), marking a major shift in how these funds operate. Since the approval of the first spot Bitcoin (BTC) ETF 19 months ago, all creations and redemptions were restricted to cash-only transactions.
- With the SEC’s July 29 decision, spot Bitcoin and Ethereum ETFs can now trade more efficiently alongside traditional stock market instruments. This move brings the crypto market into tighter alignment with the broader financial system, enhancing integration between digital assets and conventional equities.
U.S.-China Trade Talks End Without Tariff Delay as Markets Await Trump’s Decision
U.S. and Chinese officials wrapped up two days of trade talks in Stockholm without announcing a delay to tariffs set to take effect in two weeks. Trade Representative Jamieson Greer said the team will brief President Trump, who will make the final call. Treasury Secretary Scott Bessent called the talks “very constructive” and confirmed a 90-day tariff pause remains an option. While negotiators avoided discussion of a Trump-Xi summit, they focused on broader policy issues. Meanwhile, Trump touted a new trade deal with the EU that reduces tariffs and secures hundreds of billions in U.S. energy exports and investment.
CyberArk Jumps 13% on Reported $20B+ Acquisition Talks with Palo Alto Networks
CyberArk shares surged 13% on Tuesday following a report from The Wall Street Journal that Palo Alto Networks is in talks to acquire the identity management software firm in a deal exceeding $20 billion.
The acquisition would mark the largest to date for Palo Alto Networks and CEO Nikesh Arora, who “has been on a buying spree in recent years.” Since taking the helm in 2018, Arora has led the cybersecurity giant through a series of acquisitions, including Protect AI earlier this year, and Talon Cyber Security, Dig Security, and Zycada Networks in 2023.
“By extending our AI security capabilities to include Protect AI’s innovative solutions for Securing for AI, businesses will be able to build AI applications with comprehensive security,” said Anand Oswal, senior vice president and general manager of network security at Palo Alto Networks, in a release at the time.
“CyberArk would represent by far his biggest bet,” the Journal reported. The Israeli-based firm, public since 2014, specializes in helping companies manage secure logins to applications — a market increasingly vital amid the rise of AI-driven threats and ransomware attacks.
Founded in 2005, Palo Alto Networks has grown into the largest cybersecurity company by market capitalization, valued at about $132 billion. CyberArk, now with a market cap nearing $21 billion after Tuesday’s rally, is up 29% year-to-date following a 52% surge in 2024.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
- Newegg Commerce, Inc. (NEGG) +43.78%
- Sanmina Corp. (SANM) +22.79%
- Commvault Systems, Inc. (CVLT) +18.26%
- Amkor Technology, Inc. (AMKR) +18.13%
- Polaris, Inc. (PII) +16.84%
Top Losers
The top US stock losers today, based on percentage change included:
- Novo Nordisk A/S (NVO) -21.83%
- Stem, Inc. (STEM) -19.78%
- Herc Holdings, Inc. (HRI) -17.53%
- Exelixis, Inc. (EXEL) -16.78%
- QuantumScape Corp. (QS) -15.48%
Notables
- UPS shares plunged over 10% after missing earnings estimates and withholding full-year guidance, while Procter & Gamble (PG) closed slightly lower despite strong forward guidance and announcing a leadership transition—CEO Jon Moeller will become executive chairman effective Jan. 1, 2026.
- Boeing (BA) dropped more than 4%, even after reporting solid results and its highest aircraft deliveries since 2018. PayPal (PYPL) lost over 2% despite topping Q2 estimates. Meanwhile, Coinbase (COIN) slipped 3.6% after a downgrade to Neutral by Monness Crespi Hardt.
- In tech, Nvidia (NVDA) and AMD extended Monday’s gains as optimism around data center spending—fueled by Alphabet’s bullish capex forecast—boosted AI chip sentiment. Super Micro Computer (SMCI) also ticked higher, building on a double-digit Monday rally amid renewed hope for U.S.-China trade progress.
- Corning (GLW) rallied after exceeding both revenue and profit expectations and issuing upbeat guidance. SoFi (SOFI) surged 8% on a strong quarter and raised outlook. Conversely, Nucor (NUE) slipped after missing on revenue, even as earnings beat and demand trends looked solid.
- Spotify (SPOT) fell after a surprise loss tied to payroll taxes from share-based compensation, while Royal Caribbean (RCL) dropped 6.6% despite topping estimates, citing a weaker forward outlook.
- Whirlpool (WHR) tumbled on disappointing Q2 results and a dividend cut, blaming tariffs for near-term headwinds. Bitmine Immersion Technologies extended its slide with another 12% drop, as investors doubted the impact of its $1 billion buyback amid dilution concerns.
- Union Pacific (UNP) and Norfolk Southern (NSC) both slipped after unveiling a $320-per-share merger. The move could pressure rivals like CSX (CSX) and Berkshire Hathaway’s BNSF. Merck (MRK) dipped on a revenue miss, despite cost-cutting efforts and adjusted guidance.
- UnitedHealth (UNH) edged lower after higher care utilization dented earnings. Separately, Sarepta Therapeutics (SRPT) jumped after Oppenheimer upgraded the stock to “Outperform,” citing the FDA’s decision to lift a hold on its Elevidys gene therapy trial.
- In M&A news, Palo Alto Networks is reportedly in talks to acquire CyberArk Software, according to sources cited by The Wall Street Journal.
What to Watch Ahead
Meta Platforms (META) and Microsoft (MSFT) will report their earnings tomorrow, followed by Amazon (AMZN) and Apple (AAPL) reporting on Thursday.
An interest-rate decision is expected on Wednesday.
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