FX.co ★ S&P 500, Nasdaq Set Fresh Records

U.S. stocks made modest gains on Thursday, with the S&P 500 and Nasdaq indices each climbing over 0.3% to achieve new record highs. The upward movement was propelled by Alphabet's impressive earnings, which bolstered investor confidence in artificial intelligence investments. Alphabet's stock surged nearly 2% following the company's second-quarter results, which surpassed expectations and included a $10 billion increase in their 2025 capital expenditure forecast. This positive sentiment extended to other technology giants such as Microsoft, Nvidia, and Amazon. Conversely, Tesla's shares dropped 8.8% after CEO Elon Musk cautioned about challenging quarters ahead. The Dow Jones Industrial Average underperformed, declining by over 100 points, impacted by an 8% decrease in IBM's stock due to disappointing software revenue and a 3.7% fall in UnitedHealth shares amid news of a Department of Justice investigation. Additionally, market participants were intrigued by President Trump’s unexpected visit to the Federal Reserve as he intensified pressure on Chair Jerome Powell regarding interest rates. Meanwhile, trade discussions remained at the forefront, with optimism about advancements in negotiations with the EU, Japan, and South Korea, although Trump indicated tariffs would not fall below 15%.