U.S. equities saw modest gains on Friday as investors assessed a fresh wave of upbeat second-quarter earnings reports and continued signs of economic resilience, even as trade uncertainties linger.
By 09:32 ET, the Dow Jones Industrial Average was up 85 points, or 0.2%, the S&P 500 added 12 points, also 0.2%, and the NASDAQ Composite advanced 78 points, or 0.4%.
All three major indexes remain on course to finish the week higher, supported by broadly positive corporate earnings and stronger-than-expected retail sales data—evidence of continued economic momentum.
Earnings in Focus
The second-quarter earnings season is in full swing, with Friday delivering a fresh batch of results that largely exceeded expectations.
- American Express (NYSE: AXP) shares rose after the company topped earnings estimates, driven by steady spending among its high-income customer base.
- 3M (NYSE: MMM) gained after the industrial firm raised its full-year profit forecast, crediting successful cost-cutting initiatives and a focus on high-margin products.
- Charles Schwab (NYSE: SCHW) also moved higher following strong earnings, fueled by asset growth and improved net interest margins.
Meanwhile, Netflix (NASDAQ: NFLX) posted better-than-expected results and lifted its annual revenue outlook. However, the stock slipped as the results fell short of elevated market expectations. Despite the dip, Netflix shares have soared over 43% year-to-date, reflecting investor optimism around its leadership in the streaming industry.
Looking ahead, next week’s earnings calendar features major names including Coca-Cola (NYSE: KO), Texas Instruments (NASDAQ: TXN), Alphabet (NASDAQ: GOOGL), and Tesla (NASDAQ: TSLA).
Consumer Sentiment in View
On the macro front, investors are awaiting the University of Michigan’s Consumer Sentiment Index, which is expected to show a modest uptick in July, with inflation expectations remaining stable.
This follows data earlier in the week showing stronger-than-expected retail sales and lower-than-forecast jobless claims, alongside June inflation data that remained broadly in line with expectations—though tariffs are beginning to exert upward pressure on certain prices.
In response, the Federal Reserve continues to adopt a cautious, wait-and-see approach regarding interest rate changes. However, Fed Governor Christopher Waller said Thursday that a rate cut at the upcoming policy meeting could be warranted, citing mounting economic risks. He noted that recent inflation from tariffs is likely to be transitory rather than structural.
Oil Prices Climb on Supply Risks
Crude prices rose Friday amid concerns over supply disruptions and fresh geopolitical tensions.
As of 09:32 ET, Brent crude was up 1% at $70.22 a barrel, while West Texas Intermediate (WTI) rose 1.2% to $68.36.
The gains follow four consecutive days of drone attacks on oil facilities in Iraq’s Kurdistan region, which temporarily halted about half of the area’s output. In addition, the European Union reached a new sanctions agreement targeting Russian oil, with plans to lower the price cap—an effort to curtail Moscow’s revenue while avoiding broader supply shocks.
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