Live Market Coverage – July 23, 2025
By Ed Carson | Updated 8:10 PM ET
Market Overview
• Major Indices: The Dow Jones Industrial Average surged 1.1%, nearing record highs. The S&P 500 gained 0.8%, and the Nasdaq Composite rose 0.6%, both hitting all-time highs. The Russell 2000 jumped 1.5%, reaching a five-month peak.
• Market Drivers: Optimism fueled by a U.S.-Japan trade deal imposing 15% tariffs on Japanese goods and reports of a potential U.S.-EU trade agreement, both lower than President Trump’s earlier threats.
• Futures After Hours: Dow Jones futures fell 0.25%, weighed by IBM. S&P 500 futuresrose 0.1%, and Nasdaq 100 futures climbed 0.3%, lifted by Google and ServiceNow but dragged by Tesla.
Key Market Movers
• Tesla ($TSLA): Q2 earnings fell 23% to $0.40/share, meeting estimates, but revenue dropped 12% to $22.496B, slightly above views. CEO Elon Musk highlighted robotaxi progress but warned of “rough quarters” ahead. Shares fell over 4% after hours, risking a slide below the 50-day line.
• Alphabet ($GOOGL): Beat earnings expectations, though slightly below some analyst hopes. Increased AI spending plans boosted shares nearly 2% overnight, following a 0.6%dip to 190.23 during regular trading.
• ServiceNow ($NOW): Exceeded earnings forecasts and raised guidance, driving shares higher after hours, signaling a potential recovery above key moving averages.
• IBM ($IBM): Topped earnings but missed on software sales, leading to a solid decline in extended trading after a flat regular session at 282.01.
• Power Producers: GE Vernova ($GEV) surged on strong earnings, while Vistra ($VST)cleared a buy point. Both are on IBD Leaderboard.
• Other Standouts: Veeva Systems ($VEE) and Axon Enterprise ($AXON) also in focus, with Vistra analyzed on IBD’s SwingTrader.
Economic and Market Data
• Commodities: U.S. crude oil prices slipped to $65.25/barrel.
• Bonds: The 10-year Treasury yield rose to 4.39%.
• ETFs:
• Innovator IBD 50 ETF ($FFTY): +1.8%
• iShares Expanded Tech-Software ETF ($IGV): +0.8%
• VanEck Semiconductor ETF ($SMH): +0.4%
• ARK Innovation ETF ($ARKK): +1.2%
• SPDR S&P Homebuilders ETF ($XHB): +0.85%
• Energy Select SPDR ETF ($XLE): +1.6%
Market Outlook
• The stock market rally remains robust, with growth stocks rebounding after Tuesday’s losses. However, the upcoming wave of earnings and news may drive volatility.
• Investors should monitor earnings reports closely, consider holding strategies, and prepare watchlists for potential opportunities.
Main Cryptocurrencies to Watch
