Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets.
The earnings per share increased to $2.31 from $1.89 a year ago, with the top line reaching $96.43 billion, exceeding the Fiscal.ai-compiled consensus of $2.2 and $94.02 billion.
Wall Street opened the week on a risk-on footing, with the S&P 500 and the Nasdaq 100 extending record highs as strong earnings reinforced confidence in corporate America and investors continued to shrug off trade tensions.
The company is expected to report second-quarter earnings per share of $7.09 on revenue of $11.06 billion, according to consensus estimates compiled by Fiscal.ai.
Google’s $25 billion investment includes plans to invest $3 billion to modernize two hydropower plants in Pennsylvania to help meet the growing power demand from data centers and AI in the region.
U.S. equities traded sideways on Monday as investor sentiment wavered following President Donald Trump's weekend announcement of a sweeping 30% tariff on all imports from the European Union and Mexico, set to take effect August 1.
In June, the European Commission warned that Meta could face daily fines if it did not modify its ‘pay-or-consent’ model to comply with EU regulations.
TikTok is developing a U.S.-only app with a separate algorithm and data system to comply with U.S. law and facilitate a potential sale amid political and trade tensions with China.
