Home Stock market today: Nasdaq, S&P 500 jump as Big Tech earnings, trade deals lift spirits

Stock market today: Nasdaq, S&P 500 jump as Big Tech earnings, trade deals lift spirits

· July 31, 2025 · 0 Comment
  • CoreWeave (CRWV) shares surged more than 12% Thursday on the heels of strong earnings reports from two of its customers, Microsoft (MSFT) and Meta (META).
  • Microsoft is CoreWeave’s largest customer, accounting for 72% of its revenue in the burgeoning cloud provider’s most recent quarterly earnings report. Microsoft spent $88.2 billion in its fiscal year 2025, ahead of the $80 billion it previously forecast. That figure represented a 58% increase in the tech giant’s spending from the prior year.
  • Microsoft said its spending will grow at a slower pace in its 2026 fiscal year. During the first quarter, it expects to spend $30 billion, a 50% increase from the prior year.
  • “We will continue to invest against the expansive opportunity ahead across both capital expenditures and operating expenses given our leadership position in commercial cloud, strong demand signals for our cloud and AI offerings, and significant contracted backlog,” Microsoft CFO Amy Hood said in an earnings call with analysts.
  • Microsoft’s (MSFT) market capitalization officially hit the $4 trillion mark Thursday, making it the second company behind Nvidia (NVDA) to achieve the feat.
  • Shares of Microsoft climbed as much as 8% Thursday morning before paring gains, up roughly 5% shortly after the market opened.
  • Microsoft, Apple (AAPL), and Nvidia have traded places as the world’s most valuable companies. Nvidia still retains the top spot after a stunning comeback from a rocky first half of the year, with its market cap sitting around $4.4 trillion as of Thursday. Apple’s was just over $3 trillion in morning trading.
  • The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) surged on Thursday, on track for fresh record highs after strong Meta (META) and Microsoft (MSFT) earnings fueled a spike in tech stocks.
  • The Nasdaq climbed roughly 1.3%, while the S&P 500 rose 0.8%. The Dow Jones Industrial Average (^DJI) lagged, up less than 0.1%.
  • Microsoft (MSFT) and Meta (META) stocks ripped higher in premarket trading as investors continued to bid up shares following the tech giants’ earnings reports.
  • Combined, the two stocks have added about half a trillion dollars in market value since Wednesday’s close.
  • If gains hold, Microsoft is set to join Nvidia (NVDA) in the $4 trillion market capitalization club when the market opens. Its market cap as of Wednesday stood at $3.81 trillion, and the stock has gained nearly 9% in premarket trading.
  • Meta stock surged 11% ahead of the opening bell. Both Meta and Microsoft reported strong revenue growth that outweighed investors’ concerns about spending on artificial intelligence.
  • “The stock moves make sense — the results are that good,” D.A. Davidson head of technology research Gil Luria told Yahoo Finance following Meta’s and Microsoft’s earnings. “Meta is gaining significant share in the digital advertising market, … and therefore investors have patience for the capex guidance they’re providing.”
  • The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases accelerated in June as inflation remained above the Fed’s 2% target.
  • Yahoo Finance’s Josh Schafer reports:
  • Read more here.
  • Roblox’s (RBLX) stock rocketed 20% higher in premarket trading after reporting record daily users and raising its third quarter forecast for bookings.
  • Daily active users rose 41% in the second quarter to cross 111 million, the company reported on Thursday.
  • Roblox also raised its forecast for annual bookings in the third quarter to $1.59 billion to $1.64 billion. Bookings for the second quarter came in at $1.44 billion, beating market estimates of $1.24 billion.
  • Reuters reports that the company has been investing in search and discovery features that allow greater visibility for viral games like “Grow a Garden.” Roblox also aims to diversify its revenue beyond gaming by turning the platform into a hub for socializing, commerce, and advertising.
  • The platform saw a boost in engagement during the quarter, with engaged hours up 58% to 27.4 billion.
  • Read more here.
  • President Trump and European Commission President Ursula von der Leyen shook hands Sunday over a trade agreement. The White House did a victory lap, but days later, there are still plenty of disagreements about exactly what is in the pact.
  • Yahoo Finance’s Ben Werschkul reports:
  • Read more here.
  • Economic data: Challenger jobs cuts (July); Personal income & spending (June); Core PCE price index; Employment cost index (second quarter); Initial jobless claims (week ending July 26)
  • Earnings: Apple (AAPL), Amazon (AMZN), Bristol Myers Squibb (BMY), Cigna (CI), Coinbase (COIN), CVS Health (CVS), Mastercard (MA), Norwegian Cruise Line (NCLH), Reddit (RDDT), Roblox (RBLX), Roku (ROKU), Strategy (MSTR)
  • Here are some of the biggest stories you may have missed overnight and early this morning:
  • Trump knocks Canada as countries rush to strike trade deals
  • Trump tariffs face another legal test on eve of deadline
  • Apple faces 2 major threats ahead of earnings
  • What’s in the US-EU trade deal? It depends on who’s talking.
  • Fed calendar quirk raises the stakes for its Sept. meeting
  • Meta stock surges after earnings beat, guidance surprise
  • Microsoft on track for $4 trillion market cap after earnings beat
  • Arm stock falls as chip ambitions shake investor confidence
  • Here are some top stocks trending on Yahoo Finance in premarket trading:
  • Arm (ARM) stock fell 6% on Thursday before the bell following the announcement of the chip tech provider’s plan to invest in its own chip development, which would bite into future profits, disappointed investors.
  • CVS (CVS) stock jumped 7% in premarket on Thursday after the company beat Wall Street estimates for second-quarter profit.
  • Confluent Inc (CFLT) stock rose over 20% premarket following the company’s positive earnings report. The data streaming platform reported a 21% growth in subscription revenue and a 28% growth in Confluent Cloud revenue for Q2 2025.
  • Shares in Carvana (CVNA) surged over 15% in premarket trading after the online used-car seller defied expectations with strong second quarter results and outlook.
  • Bloomberg reports:
  • Read more here.
  • EBay (EBAY) stock jumped on Thursday before the bell after the e-commerce company forecasted sales that topped analysts’ estimates, suggesting optimism for continued consumer resilience at a time of shifting US tariff proposals.
  • Bloomberg News reports:
  • Read more here.
  • Beer giant Anheuser-Busch InBev (BUD) stock slumped more than 9% before the bell on Thursday after reporting that its second quarter sales volumes fell more than expected due to weak demand in Brazil and China, adding to investor worries over industry growth and hitting its shares.
  • Reuters reports:
  • Read more here.
  • Qualcomm’s (QCOM) not playing in the big-cap tech stock euphoria this morning led by Microsoft (MSFT) and Meta (META) post earnings. Its shares are down 6% premarket.
  • The company’s earnings late Wednesday were fine. But the Street is calling out a few things that are giving the bears the win, for now.
  • This note from HSBC’s Ryan Mellor this morning captures it all nicely:
  • Meta’s (META) stock is rocking higher in premarket, to the tune of 12% after a monster quarter.
  • Got to love the market ignoring the capex stuff in its earnings release below, and focusing in on Meta’s revenue trends (strong).
  • “We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $66-72 billion, narrowed from our prior outlook of $64-72 billion and up approximately $30 billion year-over-year at the mid-point. While the infrastructure planning process remains highly dynamic, we currently expect another year of similarly significant capital expenditures dollar growth in 2026 as we continue aggressively pursuing opportunities to bring additional capacity online to meet the needs of our artificial intelligence efforts and business operations,” Meta said.
  • Bottom line: bull market … carry on!
  • A bit of a sleepy earnings call from Microsoft (MSFT) after the close, filled with the typical Satya Nadella tech jargon.
  • Bottom line is this: Azure sales crushed, and there was zero signs of peaking AI demand. That should be good enough for the bulls.
  • “We expect stock to trade up given continued large Azure growth beats and a positive AI trajectory even with continued capacity constraints. We think this also bodes well for other AI infrastructure names in our coverage (Oracle (ORCL), Coreweave (CRWV),” Citi analyst Tyler Radke said.
  • Samsung Electronics (005930.KS) saw a mammoth drop in profit from the chip-making arm of the electronics giant.
  • Bloomberg reports:
  • Read more here.

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