The S&P 500 rose 0.4% on Friday, notching its fifth consecutive record close—the longest streak in over a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones advanced 208 points as investors digested a wave of trade developments and corporate earnings. Optimism around trade talks helped fuel the rally, with President Trump scheduled to meet European Commission President Ursula von der Leyen on Sunday amid hopes for a US-EU agreement. Deals were also reached with Japan, Indonesia, and the Philippines ahead of the August 1 tariff deadline, though negotiations with Canada have stalled. Strong earnings from Alphabet and Verizon lifted sentiment, while Intel dragged on the tech sector after warning of losses and announcing layoffs. Traders also turned their attention to next week’s Federal Reserve meeting and a packed earnings calendar featuring Apple, Meta, and Microsoft. The Dow posted a 1.3% weekly gain, while the Nasdaq and S&P 500 rose 1.2% and 1.6%.
Frankfurt’s DAX 40 slipped 0.8% toward the 24,100 level on Friday, as investors weighed a flurry of corporate earnings, the ECB's latest policy decision, and ongoing EU–US trade discussions. Puma plunged over 18% after the sportswear company delivered a disappointing Q2 report and scrapped its forecast for currency-adjusted sales growth. The Herzogenaurach-based firm now anticipates a loss in reported EBIT. Volkswagen shares dropped more than 2%, pressured by a sharp decline in Q2 profits, attributed in part to weaker performance in its high-end Porsche and Audi divisions. Deutsche Börse was little changed, as investors reacted to a modest increase in Q2 net profit. On the monetary policy front, expectations for further ECB rate cuts have diminished, after the central bank held interest rates steady for the first time in a year and President Lagarde said that the eurozone was in “a good place", signaling caution amid ongoing trade risks and inflation returning to the 2% target.
