S&P 500 sets first record closing high of 2025

The S&P 500 put in a late rally to finish at an intraday and closing record high. The Nasdaq 100 gained 0.2%, while the Russell 2000 climbed 0.5%.

Every S&P 500 sector ETF traded to the upside, with healthcare and industrials leading the way higher. Tech and communication services were laggards.

The VanEck Semiconductor ETF was down big early after weak guidance from SK Hynix weighed on the industry, but managed to nearly erase all losses.

GE Aerospace was the second-best performer in the S&P 500, soaring after posting its best quarterly results as a stand-alone entity.

EA, on the other hand, plummeted after slashing its guidance and was the worst-performing member of the benchmark index. American Airlines also had a very rough day after warning its first-quarter losses would be much larger than analysts had anticipated.

GameStop advanced on the heels of (what else?) a cryptic tweet from Roaring Kitty.

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J. Edward Moreno

14h

Hims rises on revenue beat, discloses it’s again in partnership talks with Novo

Hims also disclosed on Monday that it’s in talks with Novo Nordisk to make the drugmaker’s weight-loss drugs available on its platform. Last time, that didn’t go so well.

Palantir posts ninth straight earnings beat, boosts guidance

Here’s how the numbers look.

Matt Phillips14h

Tasha Matsumoto

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Amazon and the AI trade sustain stock gains

Stocks kicked off what is historically their best month of the year on a positive note, with help from Amazon and AI.

PAMPLONA, NAVARRA, SPAIN - 2025/07/09: Morante de la Puebla, a bullfighter from Seville fights a bull from the Alvaro Nunez ranch in Pamplona's Plaza Monumental during the 2025 San FermÌn festival

Luke Kawa15h

Trump’s “impossible trinity” on AI and energy

Everyone loves a good trilemma.

In economics, the most famous of the genre was developed by Fleming and Mundell, which posits that you can only successfully achieve two of the following three objectives: the free flow of capital, a fixed exchange rate, and independent sovereign monetary policy.

George Pollack, senior US policy analyst at Signum Global Advisors, proposed a trilemma of his own to describe the Trump administration’s competing policy aims as a red-hot AI boom devours power and leaves households miffed by rising electricity bills.

He wrote:

“This note flags what we believe to be a simple reality whose salience will continue growing in US politics in coming months: the Trump administration, in its remaining three years will face a trilemma as the nation waits for its energy bet to play out — proving able to achieve two, but not all three, of the following objectives:

-Fulfill AI’s energy-appetite.
-Keep repressing renewable sources of energy.
-Appease American electricity consumers.”

As for evidence that the Trump administration is taking a fossil fuels-first approach while stunting renewables, Pollack pointed to the One Big Beautiful Bill Act, which shrinks access to tax credits for green energy, as well as the end to the federal pause on liquefied natural gas export permits. However, it would be “inaccurate and unfair” to blame President Trump’s policies for surging electricity prices in recent months, he added.

While the government has pursued the expansion of nuclear power as a way to solve this trilemma, the long lead times involved are incongruent with a short-term fix.

Palantir climbs toward a fresh record high ahead of earnings report

Traders and Wall Street are waiting to see whether Palantir’s latest numbers after market close today will continue to beat expectations.

Matt Phillips18h

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