The U.S. stock market experienced a mixed trading session on Monday, July 28, 2025, as investors digested fresh trade developments and braced for a packed week of economic data and corporate earnings. While the S&P 500 (^GSPC^) and Nasdaq Composite (^IXIC^) saw modest gains, the Dow Jones Industrial Average (^DJI^) hovered near the flatline. This comes after a period of strong rallies, with the S&P 500 closing at record highs every day last week and the Nasdaq hitting new highs in nine of the past ten sessions.
The S&P 500 edged up 0.1% to trade at record levels, reaching 6389 points, a 0.01% gain from the previous session. Over the past month, the index has climbed 2.97% and is up 16.94% compared to the same time last year. The Nasdaq Composite added 0.4%, driven by strong performance in AI-related and semiconductor names. The Dow Jones Industrial Average, however, swung around the flatline, showing a slight decrease of 0.2% in late trading.
Optimism stemmed from a newly announced trade deal between the United States and the European Union, under which EU exports to the U.S. will face a 15% tariff, half the 30% rate initially threatened by President Trump. This agreement, revealed late Sunday, helped ease fears of a full-blown tariff war and provided a positive start to a busy trading week. Discussions with China are also scheduled for today to address ongoing trade issues, with an expected extension of the current truce.
Upcoming Market Events
The financial markets are gearing up for an extraordinarily busy week, with a confluence of major events poised to influence investor sentiment. This week marks the busiest of the quarter for earnings reports and includes a crucial Federal Open Market Committee (FOMC) meeting and key economic data releases.
The Federal Reserve's monetary policy decision will be a significant focus, with the July Fed meeting kicking off on Tuesday, July 29, and concluding on Wednesday, July 30. While the FOMC is not expected to cut interest rates at this meeting, despite President Donald Trump's repeated calls for lower rates, investors will be closely watching for any clues on a potential September rate cut. The Fed has maintained its benchmark interest rate between 4.25% and 4.5% this year, and officials have indicated they are waiting to see the economic impacts of tariffs before making any cuts. However, the CME Group's FedWatch tool indicates investors are pricing in a 62% chance of a rate cut in September.
On the economic data front, several top-tier releases are scheduled. Investors are awaiting second-quarter GDP data, a key inflation reading in the form of the Personal Consumption Expenditures (PCE) report, and the July jobs report. The advance estimate of Q2 GDP is expected to show a rebound in U.S. growth to 2.5%, following a 0.5% contraction in Q1. The July jobs report will likely indicate a slowdown in hiring, with nonfarm payrolls expected to rise by just 102,000, the weakest gain since February. June's PCE price index is forecast to rise 0.3%, compared with 0.1% in May. The ISM Manufacturing PMI data is also expected on Friday.
Major Stock News and Earnings After the Close
Monday's trading saw some significant individual stock movements. Tesla (TSLA) gained 3% after the company announced a deal worth approximately $16 billion to buy its next-generation AI chips from Samsung. Defense stocks like Lockheed Martin (LMT) and GE Aerospace (GE) also saw gains, with Lockheed Martin rising 1.5% and GE Aerospace up 0.5%.
Looking ahead, this week is packed with earnings reports from some of the market's heaviest hitters, including four of the "Magnificent Seven" tech giants. After the market close on Monday, July 28, companies such as Cadence Design Systems (CDNS), Celestica (CLS), Enterprise Products Partners (EPD), Exelixis (EXEL), Nucor (NUE), Welltower Inc. (WELL), and Waste Management (WM) are expected to report their quarterly results.
The most anticipated earnings releases for the week of July 28, 2025, include:
- Tuesday, July 29: UnitedHealth Group (UNH), PayPal (PYPL), Boeing (BA), SoFi Technologies (SOFI), Procter & Gamble (PG), Merck & Co. (MRK), Spotify Technology (SPOT), United Parcel Service (UPS), Visa (V), and Starbucks (SBUX).
- Wednesday, July 30: Microsoft (MSFT), Meta Platforms (META), Ford Motor Company (F), Qualcomm (QCOM), ARM Holdings (ARM), Robinhood Markets (HOOD), and Altria Group (MO).
- Thursday, July 31: Apple (AAPL), Amazon.com (AMZN), Mastercard (MA), AbbVie (ABBV), CVS Health (CVS), Bristol-Myers Squibb (BMY), MicroStrategy (MSTR), Coinbase Global (COIN), and Roku (ROKU).
- Friday, August 1: Exxon Mobil (XOM), Chevron (CVX), and Moderna (MRNA).
The market is bracing for significant volatility as these major companies, which now constitute a larger share of overall profits and market value, release their results. Investors will be closely scrutinizing these reports for insights into corporate performance and future guidance, which could significantly shape Wall Street's direction in the coming days.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.