S&P 500 Futures Hold Steady Amid Record Close
On July 23, 2025, traders worked on the floor of the New York Stock Exchange. Overall, S&P 500 futures remained largely unchanged Wednesday night following the benchmark’s record-setting close.
Index-linked futures saw a slight uptick of 0.1%. Meanwhile, Nasdaq 100 futures increased by about 0.4%. In contrast, Dow Jones Industrial Average futures dropped 104 points, translating to a 0.2% decrease.
In the “Magnificent Seven,” Alphabet and Tesla released their earnings after the market closed on Wednesday. Alphabet’s stock climbed 2% thanks to better-than-expected revenue in the second quarter. However, Tesla faced a decline of 4% due to disappointing car revenue, causing volatility among investors. Additionally, IBM’s shares fell 5% after the company reported that its software revenue missed expectations, negatively impacting Dow futures.
Earlier in the day, the S&P 500 had gained 0.78%, marking its 12th record for the year. The Dow Jones Industrial Average added 1.14%, or 507.85 points, remaining just shy of its previous closing record. The Nasdaq Composite rose 0.61%, surpassing the 21,000 level for the first time.
Boosting investor sentiment this week were positive developments on the trade front. President Trump announced on Tuesday that his administration had reached a “large deal” with Japan. Reports also indicated progress in negotiations with the EU, where a potential 15% tax on goods entering the U.S. could be introduced.
Jeremy Siegel, a finance professor at Wharton, shared his thoughts on CNBC’s “Closing Bell,” noting a clearer direction in trade talks. “It’s definitely bullish and helps sustain the momentum in the stock market,” he stated.
Traders are now looking forward to earnings reports from companies like Dow, Honeywell, American Airlines, and Union Pacific, which are expected before Thursday’s market open. They’ll also be keeping an eye on weekly jobless claims, July’s purchasing manager index data, and fresh numbers on new home sales for June.
