What happened last week…
Both the S&P 500 and NASDAQ rebounded with weekly gains, up 0.59% and 1.51%, respectively. Each index continued to notch new record highs during the week. Year-to-date performances for the three major indices are as follows: DJIA (4.23%), S&P 500 (7.06%), NASDAQ (8.21%).
Nvidia(NVDA) says it received permission from the United States government to resume sales of its H20 AI chips to China, which were specifically designed for sale in China and had been previously approved but were later blocked by export controls. Nvidia said licenses will be granted to start deliveries soon.
Alphabet(GOOG) made a $25 billion commitment to invest in data center and AI infrastructure over the next two years. The company also said it will spend $3 billion to modernize two hydropower facilities in Pennsylvania. Also,CoreWeave(CRWV) said it will invest $6 billion in its own AI data center project in Pennsylvania.
Uber(UBER) will invest $300 million in a partnership with electric vehicle maker Lucid (LCID) using self-driving technology from Nuro to “to deploy 20,000 or more Lucid vehicles equipped with the Nuro Driver over six years in dozens of markets around the world, with the first launch in a major US city next year.”
Theinflation rateyear-over-year for June matched expectations of 2.7%. Thecore inflation rateyear-over-year for June matched expectations of 2.9%.
According to FactSet, as of July 18, for Q2 2025, 12% of S&P 500 companies reported earnings with 83% having a positive EPS surprise and 83% having a positive revenue surprise. The blendedearnings growthfor the S&P 500 is 5.6%. The blendedrevenuegrowthfor the index is 4.4%, which would be the 19th consecutive quarter of growth for the index.
Happening this week…
On Wednesday,existing home salesfor June are expected to be 4.00 million. On Thursday,new home salesfor June are expected to increase to 650,000 from 623,000.
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- The Rockline Team
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