Wall Street Delivers Choppy Session While Figma IPO Surged To Close Out July – ( $EPRX $FIG $META $MODD $ORCL $SER $RIO Rise!)
- Published Jul 31, 2025
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Wall Street delivered a choppy session to close July, as early gains faded with investors digesting a flurry of corporate results, inflation commentary, and trade policy developments. Major indices ended modestly lower, reflecting profit-taking and caution ahead of key economic data due Friday.
S&P 500, Dow 30, Nasdaq, and Russell Index Performance
The S&P 500 reversed course in the afternoon to finish down 0.37% at 6,339.31, retreating from early session highs that had marked a 1% surge before enthusiasm ebbed late in the day. The Dow Jones Industrial Average lost 320 points, or 0.74% closing at 44,140.45. The Nasdaq Composite closed marginally lower as well, off 0.03% at 21,122.45. Early July strength faded as investors locked in profits, but the major indices concluded July with a third straight monthly gain, underlining resilient upward momentum despite today’s softness.
The Russell 2000 underperformed with investors rotating away from risk closing at 2,211.65, -.93%, as small caps lagged amid shifting sentiment and subdued market breadth.
Key Macroeconomic Reports
Economic data offered mixed signals. The Commerce Department reported an uptick in inflation for June, attributed in part to recently enacted tariffs, which added price pressure in both goods and services. Weekly initial jobless claims held steady, indicating continued strength in the labor market. Traders looked ahead to Friday’s non-farm payrolls report for additional signals on employment and wage growth as rate and inflation expectations remain in flux.
Tariffs and Trade Policy Updates
The U.S. granted Mexico a 90-day extension to stave off sharply higher tariffs, following high-level negotiations between President Trump and Mexican officials. While this reprieve eased immediate concerns, the administration signaled it will move forward with imposing higher final duty rates on nations lacking new agreements, as a key deadline approaches. Trade partners continue to jockey for favorable terms, and litigation questioning the legality of the broader U.S. tariff regime is now moving forward in federal court, creating overhang for multinational firms.
Yield Curve and Interest Rate Movements
Treasury yields were little changed as markets absorbed central bank guidance and braced for new labor data. The 2-year Treasury yield ticked up to 3.94%, compared to 3.86% the previous day, while longer-dated yields remained flat, continuing the recent trend of curve stability. Money markets continue to see only a modest probability of a Federal Reserve cut at the September meeting, reflecting a measured, data-driven stance by policymakers.
FOMC Announcements
The Federal Reserve yesterday left the Fed funds rate unchanged, in line with expectations, as officials cited the need for additional clarity on inflation and employment trends. No new policy shifts were announced today. Fed Chair Powell this week reiterated the data-dependent approach, leaving open the timing of any future adjustments and emphasizing that policy rates will respond to emerging economic conditions.
Sector and Stock Highlights
NVIDIA (NVDA)
NVIDIA held its ground near record levels, closing at $177. 87, while hitting $183.56 during intraday trading. After a recent earnings surge, investors have remained enthusiastic about strong AI chip demand and the company’s aggressive investment in quantum computing and next-generation data center technology. The stock’s leadership status in semiconductors and AI remains uncontested, bolstered by ongoing product launches and partnership announcements.
Tesla (TSLA)
Tesla dipped 3.38%, closing at $308.27 as the company continued to recalibrate its supply chain in response to evolving tariffs and macroeconomic uncertainties. Recent steps to diversify battery sourcing and reduce exposure to China were viewed favorably, but persistent global demand concerns and price pressures weighed on the stock’s performance.
META Platforms (META)
Meta shares initially dropped yesterday, but rallied in the aftermarket after posting robust Q2 earnings. Revenue soared 22% year-over-year to $47.5 billion, and net income grew 36%. The company’s aggressive investment in artificial intelligence and global expansion drove results, boosting daily active users to 3.48 billion. Meta shares rose sharply (+11.25%) during Thursday trading, reflecting renewed optimism after the quarterly release closing at $773.44.
McDonald’s (MCD)
McDonald’s closed at $300.07, -1.17% as its defensive profile attracted ongoing institutional interest. Analysts recently lauded the company’s strong franchising strategy and efficient capital return, though modest global same-restaurant sales growth left some observers cautious on near-term upside.
Oracle (ORCL)
Oracle experienced mild consolidation closing at $253.77,
+1.26% with some profit-taking evident after recent all-time highs. The company’s sustained strength in cloud and enterprise data services was reaffirmed by fresh contract wins, and analysts maintained a constructive intermediate-term view.
Palantir Technologies (PLTR)
Palantir closed down .16% for the day at $158.35. The company’s momentum remains fueled by a stream of new government and commercial contracts, with analysts anticipating a robust Q2 report in early August thanks to AI and cloud-driven growth.
Rio Tinto Group (RIO)
Rio Tinto shares stabilized at $59.77, +.47% after a sharp earnings-related drop earlier in the week. Investors are digesting a 16% drop in half-year profits, with management’s emphasis on maintaining disciplined capex and capital returns offering reassurance despite volatility in commodity pricing.
Acquisitions, Mergers, and IPO News
No major S&P 500 mergers, acquisitions, or substantial buyouts were reported Thursday. However, the IPO market saw a notable debut with Figma, Inc. (FIG) launching on the NYSE at $33.00 and closing well above its offer price at $115.50. Additional listings included D. Boral ARC Acquisition I Corp. (BCAR) and Shoulder Innovations, Inc. (SI), underlining continued strength in the IPO pipeline this summer.
Commodities and Digital Assets
– Gold edged lower closing at $3,343.29/oz., reflecting underlying defensive flows amid tariff and inflation.
– Silver closed down 2.5% at $36.795/oz.
-Oil prices fell .40% to $69.40/bbl, as steady demand and OPEC+ supply restraint kept volatility muted.
– Bitcoin consolidated just below recent highs at $117,110, sustained by institutional interest and a search for diversification beyond equities.