Stocks Close Mixed, Trump, Netanyahu Meet as US Dials Back Iran Threats, More
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Have you ever wondered how Jesse Cole took the Savannah Bananas from this? We had a $6 million failure last year. We're going to have bigger ones as we go. To this? We've got shareholders, investors I've reached out to regularly, and the answer is always no. Or why Elle Duncan would say this about a Netflix sports broadcast.
Sometimes we're going to take really big swings and we're going to freaking whiff.
Then the deal is the show for you. It's a Bloomberg podcast hosted by me, Alex Rodriguez. And me, Jason Kelly. We talk to the biggest names in the world of sports and business, including NBA Hall of Famer Tracy McGrady on one of his biggest blunders. I think I've created something magical. Mm-hmm. Well, I struck out. And you'll even get some of my baseball hot takes. I've had owners tell me, It doesn't matter. The game has to be fixed. It's broken. If we have to lock out the whole year, we will. New episodes air every Thursday.
Don't miss out. There's your closing bell for this Tuesday on Wall Street where stocks rose on strong earnings reports and a drop in oil prices offset a slide in chipmaker stocks. And we bring you the closing numbers each day here at Bloomberg. The S&P 500 gained 16 points. NASDAQ lost 55. The Dow gained 537 points. The 10-year Treasury yield at 4.6%. The 2-year yield at 4.27%. Crude oil moving lower now. WTI crude oil at $79 a barrel and Brent crude closing in on $84 a barrel. Apple became just the second company ever to achieve a $5 trillion market valuation. It did dip back below that threshold during the trading day and it closed just shy of that threshold. It needed to hit $340.43. It is now at $340.08.
Apple shares advanced less than 1% on regular trading. The Philadelphia semiconductor index more than 4% lower, led by Micron, which fell more than 9% in regular trading. A sell-off in semiconductor stocks deepened as signs of progress in China's advanced chipmaking compounded worries about the sustainability of the AI spending boom. Mandeep Singh is global head of tech research for Bloomberg Intelligence.
It's the market expressing its nervousness around that negative free cash flow and really not enough ROI to justify all this increase. There is ROI. We saw that in Alphabet's print, but the market didn't feel like this was enough to give them a pass and, you know, for the stock to go up.
Hear more from Mandeep Singh on the Bloomberg Intelligence podcast. NVIDIA CEO Jensen Wong on Capitol Hill today. He spoke with reporters during his visit to the Senate, emphasizing the importance of AI use.
The race for AI is for every company and every industry in America to adopt AI as quickly as possible. It's really about the diffusion of the technology into the economy. And so we all have to work hard to make sure we apply this great technology effectively. so that our economy can accelerate.
Wong also reportedly met with Commerce Secretary Howard Lutnick today as the Trump administration investigates potential violations involving NVIDIA chip exports to China. Axios reports it is not clear exactly what the men discussed. Consumer confidence fell in July. Americans' views about current business conditions and the labor market deteriorated. The conference board's gauge of confidence now down to 90.8 after an upward revision last month. Senior U.S. economist Yelena Shalyateva with the conference board says this is part of a downward trend.
If you look at the labor differential, it was still depressed. Consumers continue to assess labor market conditions as, you know, there are not that many jobs available. So there's nothing really much changed in this perspective.
Senior U.S. economist Yelena Shalyateva with the conference board on Bloomberg Intelligence. Washington today bidding farewell to longtime South Carolina Senator Lindsey Graham. President Trump gave the eulogy.
For more than 30 years, nothing of consequence happened in this Capitol without Lindsey Graham knowing about it. Nothing of significance happened anywhere in the world without Lindsey Graham having a view on it.
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