Stock Market News, July 18, 2025: Another Record for Nasdaq

Stocks closed mostly lower Friday, with the Dow off 0.5% and the Nasdaq Composite up a bit to its 11th record high of an eventful 2025.

Updates from banks and consumer-focused companies this week have pointed to a resilient economy. But some of the latest results disappointed investors.

Netflix, which lifted its annual forecasts late Thursday, dropped 5%. American Express slid 2.3% and 3M fell 3.7% after reporting premarket. Results from the Magnificent Seven tech giants will kick off next week.

Meanwhile, Wall Street is looking ahead to the Aug. 1 tariff-pause expiration and related drama. President Trump backed away from threats to fire Federal Reserve Chair Jerome Powell this week but continues to say rates should be lower.

On Friday, Fed governor Christopher Waller said he would accept the top job at the central bank, if offered. Powell’s term as chair ends next year. Waller has pushed for an interest-rate cut this month, a move that aligns with Trump’s demands for looser policy. Investors see only a marginal chance of an imminent cut, however.

New survey data from the University of Michigan showed consumer sentiment continued to recover this month, reaching a five-month high, though the mood remains considerably worse than it was at the end of last year.

Treasury yields inched lower. Ten-year yields slipped to 4.432%.

The WSJ Dollar Index weakened. The euro strengthened against the greenback. European stocks edged lower.

Bitcoin prices declined 1.3% to around $117,411. Trump signed the Genius Act Friday, after the House of Representatives passed three crypto bills.

Global oil prices slipped after the European Union agreed to impose fresh sanctions on Russia.

Chevron shares fell after arbitrators cleared the completion of the company’s $53 billion purchase of Hess. Exxon, which was challenging the deal, declined further.

Check out the week’s full-market roundup here.