S&P 500 and Nasdaq Set New Record Highs as Investors Cheer Strong Earnings

Barry Adams
18 Jul, 2025
New York City

Wall Street indexes scaled new highs on Friday and extended weekly gains, following a string of positive earnings. 

The S&P 500 index inched higher 0.2%, and the tech-focused Nasdaq Composite advanced 0.3%, as investors remained sharply focused on the fresh batch of earnings. 

American Express, Netflix, Interactive Brokers, and 3M reported stronger-than-expected quarterly reports, supporting the eight-week rally. 

For the week, the S&P 500 index increased 1%, and the Nasdaq Composite inched higher 1.8%, after big banks reported strong quarterly results and economic data confirmed a resilient labor market and consumer spending.

 

U.S. Stock Movers 

Netflix Inc. decreased 2.5% to $1,242.50 despite the streaming media company's quarterly results surpassing market expectations. 

Consolidated revenue in the quarter increased 16% to $11.1 billion from $9.6 billion, net income jumped to $3.1 billion from $2.1 billion, and diluted earnings per share rose 47% to $7.19 from $4.88 a year ago.

Netflix estimated annual revenue to range between $44.8 and $45.2 billion, compared to the previous range between $43.5 and $44.5 billion.

Norfolk Southern Corp. jumped 4.4% to $281.73 on speculation that the company is likely to be a takeover target of Union Pacific.

The Wall Street Journal reported the possible deal, citing people familiar with the acquisition talks. 

Union Pacific Corp. jumped 0.4% to $228.31. 

Interactive Brokers Group advanced 5.5% to $62.70, and the online brokerage services provider's revenue and profit surpassed analysts' expectations. 

Total net revenue in the second quarter increased to $1.5 billion from $1.2 billion, net income advanced to $224 million from $179 million, and diluted earnings per share increased to 51 cents from 41 cents a year ago. 

3M Company advanced 3.1% to $164.0, and the diversified conglomerate raised its annual outlook and reported better-than-expected quarterly results. 

The company raised its full-year earnings outlook to a range between $7.75 and $8.0, adjusted total sales growth of about 2.5%, and operating cash flow between $5.1 billion and $5.5 billion. 

Net sales increased 1.4% to $6.34 billion from $6.25 billion, net income fell to $723 million from $1.2 billion, and diluted earnings per share decreased to $1.34 from $2.07 a year ago. 

American Express decreased 0.3% to $314.50, and the financial services provider reported better-than-expected quarterly results. 

Total revenue adjusted for credit losses in the second quarter increased to $16.45 billion from $15.05 billion, net income edged down to $2.85 billion from $2.97 billion, and diluted earnings per share fell to $5.40 from $4.15 a year ago. 

"We saw record Card Member spending in the quarter, demand for our premium products was strong, and our credit performance remained best in class. 

Based on our strong performance year to date, we are reaffirming our full-year guidance for revenue growth of 8 to 10 percent and EPS of $15.00 to $15.50," Chairman and Chief Executive Stephen J. Squeri.