Stocks Climb as Tech Earnings Loom and Trade Tariff Deadline Draws Attention
U.S. stocks ticked higher Monday morning as traders prepared for a crucial earnings week and monitored comments from the White House on international tariffs. The S&P 500 rose 0.3%, the Nasdaq Composite advanced 0.5% to set a new intraday record, and the Dow Jones Industrial Average edged up by 44 points.
Markets were supported by strong early earnings reports and optimism around tech giants expected to post results this week. However, renewed trade headlines also influenced sentiment. Commerce Secretary Howard Lutnick reaffirmed August 1 as the deadline for countries to comply with new tariffs, while leaving the door open for continued negotiations.
Can Big Tech Results Power the Next Leg of the Rally?
Expectations are high as Alphabet and Tesla prepare to report earnings, marking the first of the Magnificent Seven to release results. FactSet projects the group will deliver 14% second-quarter earnings growth, compared to just 3.4% for the rest of the S&P 500. So far, 85% of S&P 500 companies reporting have beaten estimates, with overall earnings on track for 5% year-over-year growth, according to Bank of America.
The S&P 500 and Nasdaq closed last week at all-time highs, gaining 0.6% and 1.5% respectively. The Dow underperformed slightly, finishing down for the week. Traders remain focused on whether megacap strength can sustain index momentum without significant disappointments.
Crypto Moves Higher Following U.S. Stablecoin Law
Ether rose over 1% to $3,821.75—its highest level since December—after President Trump signed the first U.S. crypto legislation.
ETFs tracking ETH logged a record $2.18 billion in weekly inflows.
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See all Dow Jones forecastsCrypto-linked stocks responded sharply: Bitmine Immersion Technologies and Bit Digital gained more than 2%, while SharpLink Gaming surged 9%. Dynamix Corporation, which is merging to form The Ether Machine, soared 30% as it debuted on Monday.
Which Stocks Are Leading Early Gains and Losses?
Block surged 10% ahead of its July 23 inclusion in the S&P 500, replacing Hess.
Pinterest jumped 5% after Morgan Stanley upgraded the stock, citing improving monetization trends.
Verizon gained 5% after topping earnings estimates, and Cleveland-Cliffs climbed 7% despite posting a Q2 loss that came in narrower than forecast.
In contrast, Sarepta Therapeutics plunged 8% after the FDA withdrew support for its gene therapy following a patient death.
Target slipped over 1% after a downgrade from Barclays, while Domino’s Pizza rose nearly 4% after posting better-than-expected U.S. same-store sales growth.
What’s the Outlook for the Week Ahead?
Market momentum now hinges on megacap earnings and clarity on global trade tensions. Alphabet and Tesla results will test investor confidence in tech’s leadership.
Tariff policy remains a watchpoint, with the August 1 deadline potentially triggering global market responses.
Traders should also monitor inflows into crypto-related assets and possible rotation into newly upgraded sectors.
More Information in our Economic Calendar.