Stock Market Update
14-Jul-25 16:35 ET
Resilience despite tariff pressure
Dow +88.14
at 44459.65,
Nasdaq +54.80
at 20640.33,
S&P +8.81
at 6268.56
[BRIEFING.COM] The stock market rebounded from early session lows following some new tariff headlines, driven by a steady, mechanical trade that saw the major averages finish with modest gains and the Nasdaq close at a new record high.
A proposed 30% tariff on the EU and Mexico, starting August 1, was enough to incite a sluggish start, but true to form, the market displayed resilience to tariff headlines that have done little so far to sway the market’s upward momentum.
The head of the EU's Executive Commission and the President of Mexico both expressed a willingness to negotiate a better trade deal before the August 1 deadline. That mindset helped temper today’s selling activity.
Separately, the markets were unfazed by President Trump's announcement of secondary tariffs on Russia of up to 100% starting September 1 if Russia hasn't agreed to a ceasefire or an end to the war with Ukraine.
Though there was strength in the wake of the tariff developments, today's gains were modest. Buyer conviction was lacking ahead of consequential economic data releases and a plethora of earnings reports this week.
Tomorrow will bring the release of June CPI data, with June PPI on Wednesday and June Retail Sales on Thursday.
Several large banks, such as Wells Fargo (WFC 83.43, +0.88, +1.1%), Citigroup (C 87.50, +0.77, +0.9%), and JPMorgan Chase (JPM 288.70, +1.84, +0.6%), will release their earnings reports before the open tomorrow. Positioning before earnings contributed to the financials sector (+0.7%) finishing among the top-performing sectors.
The communication services sector (+0.7%) was another leader today, as Netflix (NFLX 1260.81, +15.70, +1.26%) traded higher ahead of its earnings report on Thursday.
Additionally, the sector benefitted from strength in its mega-cap components Alphabet (GOOG 182.76, +1.45, +0.8%) and Meta Platforms (META 720.37, +2.86, +0.5%).
Mega-cap stocks as a cohort slightly outperformed the market. The Vanguard Mega Cap Growth ETF posted a gain of 0.3%, while the S&P 500 increased 0.1%. The Russell 2000 (+0.5%) and the S&P Mid Cap 400 (+0.2%) outperformed the S&P 500 as well.
Seven S&P 500 sectors finished in positive territory with gains ranging from 0.1% to 0.7%.
The energy sector (-1.2%) was the only sector that saw a change of more than 1%, falling in tandem with the 2.3% decline in oil prices to $66.90 per barrel.
Treasuries traded in a tight range, exhibiting a similar wait-and-see disposition in front of this week's key economic releases.
There was no U.S. economic data of note today.
A proposed 30% tariff on the EU and Mexico, starting August 1, was enough to incite a sluggish start, but true to form, the market displayed resilience to tariff headlines that have done little so far to sway the market’s upward momentum.
The head of the EU's Executive Commission and the President of Mexico both expressed a willingness to negotiate a better trade deal before the August 1 deadline. That mindset helped temper today’s selling activity.
Separately, the markets were unfazed by President Trump's announcement of secondary tariffs on Russia of up to 100% starting September 1 if Russia hasn't agreed to a ceasefire or an end to the war with Ukraine.
Though there was strength in the wake of the tariff developments, today's gains were modest. Buyer conviction was lacking ahead of consequential economic data releases and a plethora of earnings reports this week.
Tomorrow will bring the release of June CPI data, with June PPI on Wednesday and June Retail Sales on Thursday.
Several large banks, such as Wells Fargo (WFC 83.43, +0.88, +1.1%), Citigroup (C 87.50, +0.77, +0.9%), and JPMorgan Chase (JPM 288.70, +1.84, +0.6%), will release their earnings reports before the open tomorrow. Positioning before earnings contributed to the financials sector (+0.7%) finishing among the top-performing sectors.
The communication services sector (+0.7%) was another leader today, as Netflix (NFLX 1260.81, +15.70, +1.26%) traded higher ahead of its earnings report on Thursday.
Additionally, the sector benefitted from strength in its mega-cap components Alphabet (GOOG 182.76, +1.45, +0.8%) and Meta Platforms (META 720.37, +2.86, +0.5%).
Mega-cap stocks as a cohort slightly outperformed the market. The Vanguard Mega Cap Growth ETF posted a gain of 0.3%, while the S&P 500 increased 0.1%. The Russell 2000 (+0.5%) and the S&P Mid Cap 400 (+0.2%) outperformed the S&P 500 as well.
Seven S&P 500 sectors finished in positive territory with gains ranging from 0.1% to 0.7%.
The energy sector (-1.2%) was the only sector that saw a change of more than 1%, falling in tandem with the 2.3% decline in oil prices to $66.90 per barrel.
Treasuries traded in a tight range, exhibiting a similar wait-and-see disposition in front of this week's key economic releases.
There was no U.S. economic data of note today.
