U.S. stocks ended flat on Friday as markets shook off initial jitters from a Financial Times report suggesting former President Donald Trump is pushing for steep tariffs—between 15% and 20%—on European Union goods. While the S&P 500 dipped 0.01% to 6,296.79, the Nasdaq Composite edged up 0.05% to 20,895.66. The Dow Jones Industrial Average slipped 0.32% to 44,342.19.
Despite the tariff scare, investor confidence remains strong, with both the S&P and Nasdaq hovering near record highs. Analysts note a shift in sentiment, with markets showing less sensitivity to trade threats and more focus on hard economic data. BNP Paribas strategist Greg Boutle remarked that investors are now awaiting solid proof of policy impacts.
Economic reports painted a mixed picture: retail sales were strong, consumer inflation rose, and producer prices were flat in June. The University of Michigan’s Consumer Sentiment Index also climbed, though inflation concerns persist.
Earnings season began with varied results. Of 59 S&P 500 companies reporting so far, 81.4% exceeded expectations. Yet, outperforming estimates hasn’t guaranteed stock gains—American Express and Netflix both fell despite beating forecasts. On the upside, Charles Schwab rose 2.9% on strong profits, and Regions Financial jumped 6.1% after raising its 2025 outlook.
Cryptocurrency stocks advanced after the U.S. House passed a bill to establish a crypto regulatory framework. Robinhood climbed 4.1%, and Coinbase rose 2.2%.
Sector-wise, utilities led gains with a 1.7% rise, hitting a record close. Energy lagged, down 1%, dragged by SLB and Exxon Mobil, which fell after disappointing earnings and a legal loss involving Hess.
For the week, the S&P 500 gained 0.59%, the Nasdaq rose 1.5%, and the Dow slipped 0.07%.


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