S&P 500 hits 11th peak of the year, Asian stocks gain

The US stock market fluctuated slightly on July 22 as investors cautiously analyzed recently released profit reports and prepared for upcoming business results from leading technology corporations.

Specifically, the S&P 500 index inched up 0.06% to 6,309.62 points, the Dow Jones increased by nearly 180 points. Meanwhile, the Nasdaq Composite index - which is biased towards technology stocks - fell about 0.4% due to the sell-off of chip stocks.

Market strategist Ryan Detrick of Carson Group told CNBC that while the optimism is not as strong, the summer rally that he and his team predicted is playing out as expected. He believes the positive trend is not over yet.

Chỉ số SP 500 lập đỉnh lần thứ 11 trong năm, chứng khoán châu Á tăng điểm - 1 — The US stock market has maintained a positive trend in recent trading sessions (Photo: Reuters).

The S&P 500 continued to close at a record high despite pressure from a decline in General Motors (GM) shares and a divergence in the technology sector. Investors are closely monitoring the quarterly financial reporting season and developments in US trade negotiations.

GM shares fell 8.1% after the company reported a $1 billion tariff hit in its quarterly report, adding to investor concerns about President Donald Trump’s global trade policies. Ford shares also fell nearly 1%.

Tesla shares, on the other hand, rose 1.1% ahead of its earnings report. Alphabet, Google’s parent company, also rose 0.65% ahead of its July 23 report.

A wave of investment in artificial intelligence continues to lift big tech stocks, pushing the S&P 500 to near record highs.

Ross Mayfield, investment strategist at Baird, said the market is pausing to consolidate its recent gains, while waiting for a series of decisive factors in the next 1-2 weeks, such as the August 1 tax deadline and the financial reports of the Magnificent Seven group (the nickname given by the financial world to the 7 leading US technology companies).

Not all tech stocks were positive, however. Meta and Microsoft both fell about 1%.

Aerospace and defense conglomerate RTX shares fell 1.6% despite strong demand for its engines and services. Lockheed Martin plunged nearly 11% as quarterly profit fell 80%.

US trade policy remains a major source of uncertainty as the August 1 deadline approaches. US Treasury Secretary Scott Bessent said he would meet with his Chinese counterpart next week to discuss a possible extension of the August 12 deadline. Meanwhile, talks with India have stalled, and the EU is considering retaliatory measures if it fails to make progress with the US.

Trading volume in the US was high, with 18.8 billion shares changing hands - above the 17.7 billion average over the last 20 sessions.

After a series of mixed economic data last week, the market has almost eliminated the possibility of the US Federal Reserve (Fed) cutting interest rates at the upcoming meeting, but still puts the probability of a rate cut in September at 60% (according to the CME FedWatch tool).

Advancers outnumbered decliners in the S&P 500 by 4.3 to 1. The index recorded 21 new highs and only 1 new low. The Nasdaq had 73 highs and 41 lows.

Asian stocks are expected to open in the green on July 23, after President Donald Trump announced that he had reached a “big deal” with Japan, which would impose a 15% tariff on Japanese exports to the US.

Japan's Nikkei 225 index rose 1.71% at the open, while the Topix index rose 1.87% as of 9 a.m. Japan time,

In South Korea, the Kospi index rose 0.89%, while the Kosdaq index - representing small-cap stocks - edged up 0.22%.

Australia's S&P/ASX 200 index rose 0.34%. Hong Kong's Hang Seng Index is expected to open higher, with futures at 25,321 points, compared with 25,130.03 in the previous session.

Source: https://dantri.com.vn/kinh-doanh/chi-so-sp-500-lap-dinh-lan-thu-11-trong-nam-chung-khoan-chau-a-tang-diem-20250723073422948.htm