The U.S. stock market opened with a mixed performance on Tuesday, July 29, 2025, as investors digested a flurry of corporate earnings reports, ongoing trade developments, and anticipated economic data releases. While the technology-heavy Nasdaq Composite (IXIC) showed early strength, the Dow Jones Industrial Average (DJIA) lagged, and the S&P 500 (SPX) traded near its recent record highs. The broader market sentiment remains influenced by strong corporate results and progress in international trade negotiations, even as a pivotal Federal Reserve meeting approaches.
Market Indexes: A Look at the Open
As trading commenced, the Nasdaq Composite (IXIC) continued its impressive run, opening higher and extending its gains. The index, which closed at a new record high on Monday, July 28, was trading around 21,178.58, up approximately 0.33% in early trading. This upward momentum in tech stocks has been a consistent theme, with the Nasdaq Composite hitting new highs on 10 of the last 11 trading days.
The S&P 500 (SPX), a broad measure of U.S. large-cap equities, also opened slightly positive, hovering around 6,389.79, reflecting a modest gain of about 0.02%. The S&P 500 has notably closed at a record high in each of the last six sessions, showcasing sustained investor confidence.
In contrast, the Dow Jones Industrial Average (DJIA) experienced a slight dip at the open, trading around 44,837.56, down approximately 0.14%. Despite a mixed picture at the open, futures for all three major indexes had indicated a slightly higher start to the day, with Nasdaq 100 futures up 0.44%, S&P 500 futures up 0.26%, and Dow Jones futures up 0.1% as of 7:00 a.m. EDT. The divergence highlights the continued outperformance of growth-oriented tech stocks compared to some of the more traditional industrial components.
Upcoming Market Events: A Week of High Impact
This week is packed with market-moving events that could significantly influence investor sentiment and market direction. A critical focus remains on the Federal Reserve's policy decision, expected on Wednesday, July 30. While the Fed is widely anticipated to hold interest rates steady, all eyes will be on Chair Jerome Powell's post-meeting commentary for clues regarding future monetary policy, particularly concerning inflation and the potential for rate cuts later in the year.
Beyond monetary policy, a slew of economic data releases is slated for the week. Today, Tuesday, July 29, key reports include the JOLTS job openings for June, the Conference Board consumer confidence for July, and the S&P CoreLogic Case-Shiller home prices for May. Mid-week will bring the ADP private payrolls and the crucial Q2 GDP estimate on Wednesday. Towards the end of the week, investors will scrutinize weekly jobless claims on Thursday, followed by the highly anticipated nonfarm payrolls report for July and the updated unemployment rate on Friday. These economic indicators will provide fresh insights into the health of the U.S. economy and could shape expectations for future Fed actions.
Furthermore, the second-quarter earnings season is in full swing, with over 150 S&P 500 companies scheduled to report results this week. Today's earnings calendar includes major names such as Boeing (BA), Starbucks (SBUX), Spotify (SPOT), UPS (UPS), Procter & Gamble (PG), Merck (MRK), SoFi (SOFI), Visa (V), and UnitedHealth Group (UNH). The earnings parade continues with tech giants Microsoft (MSFT) and Meta Platforms (META) reporting on Wednesday, followed by Apple (AAPL) and Amazon (AMZN) on Thursday. Energy heavyweights Chevron (CVX) and Exxon Mobil (XOM) are set to close out the week with their reports on Friday. So far, 83% of companies have exceeded earnings expectations, a trend analysts hope will continue to support market gains.
Major Stock News and Developments
Several significant corporate and geopolitical developments are making headlines today. UnitedHealth Group (UNH) saw its shares fall in premarket trading after the health insurance giant's second-quarter profit missed analyst forecasts, and the company subsequently cut its profit outlook. UnitedHealth has been a notable decliner in the Dow Jones Industrial Average this year, with its stock down more than 40% since the start of 2025.
In the transportation sector, a major merger announcement captured attention as Union Pacific (UNP) revealed plans to acquire Norfolk Southern (NSC) for a reported $72 billion. This deal, if approved, would create the first trans-continental railroad in the U.S., though both UNP and NSC shares were trading lower on the news.
The technology sector remains a hotbed of activity. Nvidia (NVDA), which has surged to become the world's largest company by market capitalization, is reportedly ordering 300,000 H20 chips from Taiwan Semiconductor Manufacturing Company (TSM), indicating continued strong demand for its AI-focused processors. Discussions are also underway between Microsoft (MSFT) and OpenAI regarding contract details, with a particular focus on OpenAI's advanced technology.
Furthermore, a new tax law, dubbed the "One Big Beautiful Bill Act," is poised to significantly benefit major tech companies like Amazon (AMZN), Meta Platforms (META), and Google (GOOGL). This legislation allows for 100% immediate expensing of qualified production property, such as data centers and AI hardware. Analysts project that Amazon could see a substantial 30% jump in free cash flow, while Google and Meta could experience gains of 5% and 22% respectively by 2026, driven by this favorable tax environment.
On the trade front, the U.S. and China are set to resume trade talks today, extending their current truce by three months as they work towards a lasting tariff agreement before an August 12 deadline. This follows a recent U.S.-EU trade deal that, despite imposing a 15% tariff on most European imports, has been viewed positively by markets as it aims to avert worst-case tariff scenarios.
Finally, several companies are trading ex-dividend today, July 29, 2025, which is relevant for investors tracking dividend-paying stocks. Notable names include Bosch, Alembic Pharmaceuticals, and Aeroflex Industries.
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.