Equity Alert
S&P 500 ends at record high once more, Nasdaq ends down Tue
This story was originally published at 08:07 IST on 23 July 2025
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Equity Alert: S&P 500 ends at record high once more, Nasdaq ends down Tue
MUMBAI--0745 IST--Among the three key US benchmark indices, Nasdaq Composite ended lower on Tuesday as technology stocks fell while S&P 500 ended at record high yet again. However, results from General Motors kept investors cautious as they saw US' trade polices eating out a significant chunk of the Chevrolet-maker's profit. Investors are also anxious as there are mixed guidance from the US companies when it comes to uncertainty regarding tariffs and its consequent effects.
Nasdaq Composite ended 0.4% lower as big technology stocks such as Meta Platforms and Microsoft were 1% down each. Meanwhile, Alphabet closed slightly lower ahead of June quarter earnings due late Wednesday. S&P 500 closed tad higher, with 21 stocks hitting new highs and one at new low, Reuters reported. Nine of the 11 S&P 500 sector indexes rose, led by gain in healthcare and real estate.
Among stocks, General Motors tumbled 8.1?ter the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more to investor concerns about US President Donald Trump's global trade policy. Ford Motor also fell about 1%. Meanwhile, Tesla was 1.1% higher. Shares of RTX dropped 1.6?ter the aerospace and defense giant took a hit from Trump's trade war despite strong demand for its engines and aftermarket services. Lockheed Martin tumbled almost 11?ter its quarterly profit plunged by about 80%.
"The market is consolidating recent gains and is in a bit of a holding pattern with some huge catalysts over the next week or two, including the August 1 tariff deadline and a lot of important Magnificent Seven earnings," Ross Mayfield, an investment strategy analyst at Baird, was quoted as saying by Reuters. That said, after last week's mixed economic data, most traders are in hopes of an interest-rate cut from the US Federal Reserve at next week's monetary policy meeting. Currently, they see about 60% chance of a reduction in September, according to the CME's FedWatch tool.
Following are the closing levels of US indices Tuesday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 44502.44 | 0.4 |
| NASDAQ Composite | 20892.69 | -0.39 |
| S&P 500 | 6309.62 | 0.06 |
(Gopika Balasubramanium)
End
US$1 = INR 86.36
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Ashish Shirke
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