Wall Street opens higher; S&P 500 hits fresh record as earnings, data fuel optimism

Wall Street opens higher; S&P 500 hits fresh record as earnings, data fuel optimism

US stocks opened marginally higher on Friday, extending this week’s upward momentum after the S&P 500 closed at a record high in the previous session. Investors continue to digest a mix of strong earnings, upbeat economic data, and policy developments both at home and abroad.

At the open, the S&P 500 rose 0.2 percent, notching a fresh intraday high. The Nasdaq Composite added 0.2 percent, while the Dow Jones Industrial Average edged up around 40 points, or 0.1 percent.

Futures had pointed to a quiet but positive start, with S&P 500 and Nasdaq-100 futures up 0.1 percent each ahead of the bell, and Dow futures gaining 14 points.

Markets are on track to close the week in positive territory, buoyed by strong quarterly earnings and better-than-expected macro data. Netflix shares fell over 1 percent in extended trade despite topping second-quarter expectations and raising revenue guidance. American Express and 3M are among the key firms reporting today.

On the economic front, US housing starts rose 4.6 percent in June, recovering from a sharp drop in May, driven largely by multifamily construction. However, single-family housing remains under pressure due to rising inventories and affordability issues.

Globally, trade and geopolitical updates continue to shape sentiment. Pakistan’s finance minister is in Washington negotiating a potential trade deal amid a list of US demands. Egypt has announced plans to raise $4 billion through international bond issuances over the next year. Meanwhile, the UK is in talks to join the US weapons procurement programme for Ukraine, signalling stronger transatlantic cooperation under the Trump administration.

As the trading day unfolds, investors will watch for further cues from corporate earnings, housing data, and Fed commentary, all against a backdrop of record-breaking equity performance and cautious optimism about the US economy’s resilience.

Asian stock markets

Japan’s Nikkei 225 rose 0.2 percent to around 39,890, supported by tech gains and tariff negotiation hopes, though tempered by a stronger yen and revised Q1 GDP showing a milder 0.2 percent annualized contraction.

South Korea’s KOSPI dipped 0.4 percent to 3,188, pressured by semiconductor declines, despite a 33.16 percent year-to-date gain.

Hong Kong’s Hang Seng climbed 1.35 percent to 24,826, driven by tech stocks like Tencent Music (+6.53 percent) and Meituan (+4.87 percent), while China’s CSI 300 gained 0.5 percent to 3,534, buoyed by better-than-expected May consumer inflation (-0.1 percent vs. -0.2 percent forecast).

India’s Nifty 50 saw futures down 0.1 percent, with the BSE Sensex at 81,736 (-0.65 percent), cautious over U.S. tariff threats.

Australia’s S&P/ASX 200 surged 1.35 percent to a record high of 8,757, propelled by a 4.3 percent unemployment rate boosting rate cut expectations, with banks like CBA (+1.8 percent) and industrials leading gains.