Dow Jones, Nasdaq, S&P 500 weekly preview: Google, Tesla prints to test tech rally
The Dow Jones Industrial Average (DJIA) slipped on Friday following reports that President Donald Trump is pushing for higher tariffs on the European Union (EU), News.az reports citing Investing.
The Dow dropped 142.30 points, or 0.32%, to close at 44,342.19. The S&P 500 edged down 0.01% to 6,296.79 after briefly touching a record high during the session. The Nasdaq Composite rose 0.05%, ending the day at 20,895.66.
According to the Financial Times, Trump is seeking a minimum tariff of 15% to 20% as part of ongoing trade discussions with the EU. The bloc is working to strike a deal before Trump’s August 1 deadline, when he has threatened to impose 30% tariffs on European imports.
Investors also assessed a batch of fresh earnings results and economic data.
Despite Friday’s muted moves, the S&P 500 and Nasdaq each posted a weekly gain, up 0.6% and 1.5%, respectively. The Dow finished the week slightly lower.
This week, investor attention will be firmly on the second-quarter earnings season, which kicked off on a strong footing last week.
In addition to corporate results, markets will be closely watching developments around the Federal Reserve.
President Donald Trump has renewed pressure on Fed Chair Jerome Powell to step down as he continues to push for interest rate cuts. The Fed is set to hold its next policy meeting on July 29-30.
On the data front, several key economic indicators are due in the coming days, including updates on manufacturing and services activity, weekly jobless claims, and changes in existing home sales.
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