Market Wrap | Trump Pressures Fed for Rate Cuts as Markets Fluctuate

On July 24, 2025, the S&P 500 index rose by 0.07%, while the Dow Jones Industrial Average fell by 0.70%, and the Nasdaq Composite index increased by 0.18%. President Trump's visit to the Federal Reserve and his discussion with Chairman Powell about lowering interest rates highlight continued pressure on the Fed's monetary policy. Additionally, the U.S. July S&P Global Manufacturing PMI fell to 49.5, signaling a contraction in the manufacturing sector, which may impact economic outlooks.

In today's market, the technology, energy, and communication services sectors outperformed the S&P 500, with the energy sector showing particularly strong performance. Conversely, the utilities, healthcare, materials, industrials, real estate, financials, and consumer staples sectors moved in the opposite direction of the S&P 500.

T-Mobile US shares rose 5.80% as the company reported strong Q2 earnings, exceeding expectations with record-breaking customer growth and increased service revenues. ServiceNow shares climbed 4.16% following the release of its Q2 financial results, which surpassed analyst expectations due to significant growth in AI-related deals.

AEye's stock surged by 158.41% today, driven by the integration of its Apollo lidar into Nvidia's DRIVE AGX platform, which has enabled major automaker partnerships. Healthcare Triangle also saw a significant rise, with its stock increasing by 115.48% due to favorable Nasdaq hearings. Meanwhile, Garden Stage's shares dropped by 38.14% as a share offering diluted existing shareholders' value. Wang & Lee Group's stock also declined, falling by 34.32% with no support from accumulated volume, increasing the risk of a significant price drop.

Trump visited the Federal Reserve, discussing potential interest rate cuts with Chair Jerome Powell, expressing hopes to lower rates by three percentage points to save the U.S. economy over a trillion dollars. Intel reported that its operations in Israel have not experienced significant disruptions. The U.S. July S&P Global Manufacturing PMI fell to 49.5, below expectations, indicating contraction in the sector. Google's core search business achieved significant growth, with AI Overviews reaching over 2 billion monthly users globally.