US Stocks End Mixed Amid Tariff Drama, Tech Sector Sees Gains and Losses.

US stocks ended mixed on Friday, with major averages climbing into record territory the previous day. The Financial Times reported that President Trump is pushing for a 15% tariff on all goods from China, despite previous announcements of a pause. First Solar gained, while Micron Technology lagged in the tech sector.

US stocks ended mixed on Friday, with major averages climbing into record territory the previous day. The Financial Times reported that President Trump is pushing for a 15% tariff on all goods from China, despite previous announcements of a pause. First Solar gained, while Micron Technology lagged in the tech sector.

On Friday, the tech-focused Nasdaq Composite (^IXIC) rose slightly to notch a new record, while the Dow Jones Industrial Average (^DJI) fell 0.3%, and the S&P 500 (^GSPC) fell below the flatline. The market largely shrugged off tariff tensions amid fresh data that signaled the economy remains on solid footing. The S&P 500 and Nasdaq trimmed early gains to hover near the flatline after the University of Michigan consumer sentiment survey showed one-year inflation expectations plunging to 4.4% from 5% in June.

Stocks consolidated for much of the session after the S&P 500 and Nasdaq Composite vaulted to fresh closing highs on Thursday. Wall Street welcomed economic data which showed little indication that President Trump's tariffs are affecting consumer spending habits. Meanwhile, President Trump is reportedly pushing for higher blanket tariffs on imports from the European Union, throwing a wrench in negotiations ahead of an Aug. 1 deadline for sweeping duties to take effect. The Financial Times reported that Trump wants a minimum of a 15% to 20% tariff on EU goods as part of any deal [1].

Netflix's second quarter results failed to enthuse the market, dragging on the stock. The streaming giant kicked off Big Tech earnings late Thursday with a wide profit beat and a solid revenue number. But investors likely wanted a bigger boost to full-year guidance to justify a raise on an already lofty valuation, analysts suggested [2]. Meanwhile, American Express (AXP) strong quarterly results underscored high-end consumers are still spending [2].

The latest drama involving Trump's fury with Fed Chair Jerome Powell largely moved to the back burner. Powell sent a letter to Trump's top budget official on Thursday, defending the Fed's headquarters renovation project for which he has come under fire in recent days. But already, the focus is turning to who could replace Powell next year and the : keeping Trump happy while attempting to maintain the Fed's independence [2].

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.

References:
[1] https://finance.yahoo.com/news/live/stock-market-today-dow-slips-as-sp-500-nasdaq-waver-near-latest-records-162921472.html
[2] https://www.ainvest.com/news/biggest-stock-market-stories-friday-tech-giants-earnings-2507-89/