S&P 500 Closes Above 6300 – US Market Wrap

The beginning of a busy week for Corporate America saw equities giving up most of their gains, with traders looking for indications of resilience in earnings amid tariff risks. Treasury yields fell alongside the dollar.

While the S&P 500 exceeded 6,300, the stock benchmark rose just 0.1%. Energy shares joined a decline in oil amid persistent concerns about crude demand. A gauge of the “Magnificent Seven” megacaps outperformed, with Tesla and Alphabet due to report results this week. The stakes will again be high as traders look for updates on AI spending. Nvidia fell.

Gains in Treasuries were led by longer maturities, with the 30-Yr yield slipping 4 basis points to 4.95%. The dollar declined against all of its developed-world peers. The yen rose as Japan’s PM Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the Upper House election.

Investors will also keep a close eye on tariff headlines. Trump may issue more unilateral tariff letters before August 1st, WH Press Sec. Leavitt said. More trade deals may also be reached before the deadline, she added.