US close: Stocks mixed amid flurry of blue chip earnings
By Benjamin Chiou
Date: Thursday 24 Jul 2025
(Sharecast News) - US stocks were mixed on Thursday, with the Dow firmly lower and the S&P 500 and Nasdaq eking out fresh record highs, though upside was limited amid ongoing trade talks and a flurry of blue chip corporate earnings.
The Dow finished over 300 points lower (-0.7%) at 44,693.91, after finishing at an eight-month high the previous session, dragged lower by heavy falls from Dow Chemical, IBM, UnitedHealth and Intel.
However, the S&P 500 rose 0.1% to 6,363.35, and the Nasdaq gained 0.2% to 21,057.96 - both all-time closing highs - despite heavyweight Tesla finishing with steep losses.
"US stocks continue to demonstrate remarkable momentum, with each new move higher dragging in more institutional flows in a relentless performance chase," said Chris Beauchamp, chief market analyst at IG.
Following on from this weekend's trade deal with Japan, there are hopes that US and European officials may soon come to an agreement that will bring an end to trade uncertainty - for the EU at least.
Also in focus was a visit by Donald Trump to the Federal Reserve on Thursday, as the president looks to increase the pressure on chairman Jerome Powell. The visit marked the first time in almost 20 years that a sitting American president will make an official trip to the central bank.
Economic data comes in mixed
On the macro front, i nitial jobless claims fell to 217,000 last week, down from the prior week's unrevised 221,000 reading, while continuing claims came to 1.95m, an increase of 4,000 from the previous week's downwardly revised level. The four-week moving average, which aims to strip out week-to-week volatility, decreased by 5,000 to 224,500.
The Chicago Federal Reserve's national activity index increased to -0.10 points in June, up from -0.16 in May, the third straight monthly reading below zero. Although two of the four broad categories improved, all four contributed negatively to the index.
Lastly, the preliminary reading of S&P Global's manufacturing and services PMIs showed that US private-sector activity growth hit a five-month high in July, as strong service-sector growth made up for a renewed downturn in manufacturing. The composite PMI rose to 54.6 from 52.9 in June.
Market movers
Electric carmaker Tesla finished 8% lower after posting a disappointing drop in auto revenues for a second consecutive quarter. Both revenues and profits missed analysts' estimates in the second quarter.
There were some heavy fallers on the Dow: Dow Chemical tanked 17% after posting a bigger Q2 loss than expected; computing giant IBM dropped 8% after Q2 software revenues fell short of expectations on the Street; UnitedHealth fell 5% on the back of a Department of Justice probe into Medicare billing; while Intel slipped 4% despite beating Q2 expectations, as the company announced major cuts to foundry investments.
Another heavy faller was American Airlines, which dialled back profit guidance despite beating on both the top and bottom lines with its Q2 trading performance.
On the upside, Google parent company Alphabet and telecoms group T-Mobile both gained on the back of Q2 results that comfortably topped forecasts.
Dow Jones - Risers
Chevron Corp. (CVX) $155.81 1.76%
Microsoft Corp. (MSFT) $510.88 0.99%
Walmart Inc. (WMT) $96.60 0.96%
Verizon Communications Inc. (VZ) $43.08 0.56%
Walgreens Boots Alliance, Inc. (WBA) $11.59 0.52%
Caterpillar Inc. (CAT) $429.66 0.48%
Procter & Gamble Co. (PG) $158.78 0.32%
Johnson & Johnson (JNJ) $169.54 0.26%
Goldman Sachs Group Inc. (GS) $719.04 0.21%
Salesforce.Com Inc. (CRM) $267.70 0.18%
Dow Jones - Fallers
Dow Chemical Co. (DOW) $25.07 -17.45%
International Business Machines Corporation (CDI) (IBM) $260.51 -7.62%
Unitedhealth Group Inc. (UNH) $278.58 -4.76%
Intel Corp. (INTC) $22.63 -3.67%
Nike Inc. (NKE) $75.46 -1.69%
McDonald's Corp. (MCD) $294.48 -1.22%
Boeing Co. (BA) $231.27 -1.12%
Travelers Company Inc. (TRV) $261.99 -1.04%
3M Co. (MMM) $149.37 -0.96%
Home Depot Inc. (HD) $373.18 -0.84%
S&P 500 - Risers
FMC Technologies Inc. (FTI) $37.54 11.76%
Kohls Corp. (KSS) $13.63 10.81%
United Rentals Inc. (URI) $875.25 8.96%
Laboratory Corporation of America Holdings (LH) $267.69 6.86%
Albemarle Corp. (ALB) $84.18 6.84%
Allegion (ALLE) $163.67 6.03%
Nasdaq Inc (NDAQ) $93.50 5.91%
Globe Life Inc. (GL) $131.52 5.38%
Rollins Inc. (ROL) $58.03 5.20%
Broadridge Fin Sol (BR) $252.99 4.27%
S&P 500 - Fallers
LKQ Corporation (LKQ) $31.73 -17.82%
Mattel Inc. (MAT) $16.89 -16.39%
Chipotle Mexican Grill Inc. (CMG) $45.74 -13.34%
Southwest Airlines Co. (LUV) $33.26 -11.16%
Advance Auto Parts (AAP) $59.65 -10.30%
LyondellBasell Industries (LYB) $60.70 -9.70%
American Airlines Group (AAL) $11.46 -9.62%
Centene Corp. (CNC) $26.76 -9.04%
International Business Machines Corporation (CDI) (IBM) $260.51 -7.62%
Textron Inc. (TXT) $80.93 -7.20%
Nasdaq 100 - Risers
T-Mobile Us, Inc. (TMUS) $247.50 5.80%
Illumina Inc. (ILMN) $107.64 2.90%
O'Reilly Automotive Inc. (ORLY) $98.16 2.87%
Vodafone Group Plc ADS (VOD) $11.52 1.95%
Broadcom Inc. (AVGO) $288.71 1.77%
Nvidia Corp. (NVDA) $173.74 1.73%
Micron Technology Inc. (MU) $111.73 1.73%
Amazon.Com Inc. (AMZN) $232.23 1.73%
Idexx Laboratories Inc. (IDXX) $549.97 1.72%
Monster Beverage Corp (MNST) $60.18 1.67%
Nasdaq 100 - Fallers
American Airlines Group (AAL) $11.46 -9.62%
Tesla Inc (TSLA) $305.30 -8.20%
Charter Communications Inc. (CHTR) $380.00 -4.55%
Intel Corp. (INTC) $22.63 -3.67%
Microchip Technology Inc. (MCHP) $67.81 -3.47%
Qvc Group Inc Series A (QVCGA) $3.17 -3.35%
NetEase Inc. Ads (NTES) $136.30 -3.03%
Intuitive Surgical Inc. (ISRG) $488.61 -2.66%
Starbucks Corp. (SBUX) $93.68 -2.33%
Hasbro Inc (HAS) $75.05 -2.33%
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