Key U.S. Stock Market Performance
The major U.S. stock market indices closed the week mixed on Friday, following reports that President Donald Trump is pushing for more substantial tariffs on the European Union.
- Nasdaq: Up by 0.05% to 20,895.66 points
- S&P 500: Down by a marginal 0.01% to 6,296.79 units
- Dow Jones Industrial Average: Down by 0.32% to 44,342.19 points
Over the week, the Dow Jones fell by 0.07%, while the Nasdaq rose by 1.51% and the S&P 500 gained 0.59%.
Trump’s Push for Higher EU Tariffs
President Trump is advocating for a minimum tariff of 15-20% on EU products, compared to the baseline 10%, as reported by Financial Times citing anonymous sources.
Economic and Corporate News
In economic news, U.S. consumer confidence rose in July to its highest level in five months, while expectations for next year’s inflation fell for the second consecutive month according to preliminary results from a University of Michigan survey.
In corporate news, Invesco’s stock increased by 15%, the largest gain in the S&P 500, after its unit filed a statement with the U.S. Securities and Exchange Commission to reclassify its listed technology ETF, QQQ Trust Series 1, from a unit investment trust to a variable capital company.
Regions Financial also performed well in the S&P 500, with a 6.1% increase following its report of higher adjusted earnings and revenues in the second quarter.
Mexican Stock Market Ends Lower
The Mexican stock market closed lower on Friday amidst the start of local quarterly reports and continuous international trade news.
- S&P/BMV IPC: Down by 0.78% to 56,273.45 points
- FTSE-BIVA: Down by 0.67% to 1,132.14 points
The decline followed four days of gains, making it the second consecutive week of falls, with the IPC and FTSE-BIVA dropping 0.57% and 0.65%, respectively, nearing their lowest levels in a month. Kimberly-Clark de Mexico reduced its second-quarter operating cash flow, disappointing analysts’ expectations.
Key Questions and Answers
- What is the main topic of this article? The U.S. stock market’s mixed performance at week’s end, influenced by President Trump’s push for higher tariffs on the European Union.
- Who is President Donald Trump, and why is he relevant? He is the 45th President of the United States, and his actions are relevant because he has the power to influence trade policies that impact global markets.
- What are the key U.S. stock market performances mentioned? The Nasdaq increased by 0.05%, the S&P 500 was down by a marginal 0.01%, and the Dow Jones fell by 0.32%.
- What tariff changes is Trump advocating for? He is pushing for a minimum tariff of 15-20% on EU products, compared to the current baseline of 10%.
- What are some notable economic and corporate news mentioned? U.S. consumer confidence rose in July, inflation expectations fell for the second consecutive month, Invesco’s stock increased by 15%, and Regions Financial reported higher adjusted earnings and revenues.
- How did the Mexican stock market perform this week? The Mexican stock market closed lower, with the S&P/BMV IPC and FTSE-BIVA falling 0.78% and 0.67%, respectively, amidst local quarterly reports and international trade news.
