Biggest Stock Market Stories for Friday: Tech Giants, Earnings, and More

Here's a summary of the article in 30-90 words: TipRanks provides a list of the biggest stock market stories for Friday, including strong earnings reports from 3M, Charles Schwab, American Express, and Schlumberger. Netflix stock fell despite beating estimates, while Telomir Pharmaceuticals and Blaize stocks soared after positive data and a deal announcement. Chevron stock got a boost after beating Exxon Mobil to oil discoveries in South America, while Nintendo stock slipped despite a boost from the Switch 2 launch.

Stock futures were mixed during Thursday's premarket hours following President Trump's denial of plans to fire Jerome Powell from his role as Federal Reserve chairman. Trump hinted at potential changes in the future but denied having drafted a letter to fire Powell, which initially sent stocks lower. The S&P 500 (^GSPC) and the tech-heavy Nasdaq (^IXIC) both ended Wednesday's trading session higher, with the S&P 500 rising about 0.3% and the Nasdaq climbing 0.3% for its latest record close. The Dow Jones Industrial Average (^DJI) rose 0.5%. The recovery in stocks was attributed to Trump's comments that he was not planning to fire Powell, despite earlier reports suggesting otherwise.

Investors are closely watching the situation as it could have significant implications for the Federal Reserve's independence and monetary policy. The Fed's independence is a cornerstone of US financial markets, and any erosion of this independence could lead to market volatility and potential damage to the US economy.

In addition to the developments surrounding Powell, investors will be looking at earnings reports from companies like Taiwan Semiconductor (TSM), United Airlines (UAL), and Nvidia (NVDA) early Thursday. These earnings reports, along with key economic data, are expected to influence market sentiment.

3M Company (MMM) reported strong second-quarter 2025 results, with revenues and earnings surpassing the Zacks Consensus Estimate. The company reported adjusted earnings of $2.16 per share, which surpassed the Zacks Consensus Estimate of $2.01. The company also reported net revenues of $6.34 billion in the quarter, an increase of 1.4% year over year. Organic sales inched up 0.6%, while foreign currency translation had a positive impact of 0.8%. The company expects adjusted earnings to be in the range of $7.75-$8.00 per share for 2025, compared to $7.60-$7.90 previously projected.

References:
[1] https://www.ainvest.com/news/stock-market-update-tsm-ual-key-movers-trump-comments-powell-2507/
[2] https://finance.yahoo.com/news/3ms-earnings-revenues-surpass-estimates-144200355.html