Tech Leads Stocks Higher; Treasuries Steady on GDP: Markets Wrap

S&P 500, Nasdaq climb to record highs; Euro near 2-year low
Dollar gains after Kudlow says intervention is ruled out

U.S. equities to profit from low inflation and low rates, says Wouter Sturkenboom of Northern Trust Asset Management.Daybreak: Europe." (Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Sarah Ponczek and Olivia Rinaldi

July 25, 2019 at 10:10 PM UTC

Updated on

July 26, 2019 at 3:55 PM UTC

This article is for subscribers only.

Technology shares propelled U.S. stocks to all-time highs after Alphabet posted strong results and a jump in gross domestic product failed to deter expectations that the Federal Reserve will cut rates next week. The euro traded near a two-year low.

The S&P 500 and Nasdaq Composite indexes hit fresh intraday records as Twitter and Google-parent Alphabet rallied after their sales beat estimates, though Amazon slid on lower-than-forecast earnings. The second-quarter GDP report comes in the wake of Thursday’s European Central Bank meeting, where Mario Draghi failed to deliver the dovish signals investors sought.