The rally that has propelled both the S&P 500 and the Nasdaq Composite to a series of record highs ran out of steam on Friday (Saturday AEST) amid mixed earnings reports and falling bond yields.
Also denting sentiment was a report in the Financial Times that US President Donald Trump is pushing for a minimum 15 per cent to 20 per cent tariff on all European Union goods.
Source: https://www.afr.com/markets/equity-markets/s-and-p-500-nasdaq-rallies-run-out-of-steam-20250719-p5mg4j