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Record Stock Market Highs Continue On Monday – ( $GOVX $META $MODD $RIO $SMMT $TDOC Rise!)

By John F. Heerdink, Jr.
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Markets enter the heart of the earnings season with record highs in technology bellwethers and cautious optimism in the face of persistent macro uncertainties, tariff deadlines, and evolving monetary policy signals. Today, The S&P 500 closed at a record 6,346.75, gaining 0.03% for the session and capping a remarkable year-to-date advance. The Nasdaq Composite also recorded an all-time high, closing up 0.01% at 23,345.25 bolstered by strength in technology heavyweights. The Dow Jones Industrial Average also rose .03% to finish at 44,586.00. The Russell 2000, which had shown relative resilience last week, ended down 0.4% for the day, reflecting minor underperformance in small-cap stocks.

Macroeconomic Reports

Stock market gains were set against a backdrop of cautious macroeconomic readings. The Conference Board Leading Economic Index (LEI) fell by 0.3% in June to 98.8, marking its third consecutive month of decline. Persistent weakness in consumer expectations, sluggish manufacturing new orders, and rising initial jobless claims have prompted the index’s six-month contraction rate to accelerate, with some economists warning of slowing GDP growth through the latter part of 2025, though a full recession is not forecasted at this time.

FOMC & Rates

Federal Reserve officials were in a blackout period ahead of the next FOMC meeting, but recent commentary has pointed to ongoing uncertainty on monetary policy. The fed funds target rate stood unchanged at 4.25%-4.50%, with the yield on the 10-year Treasury note ticking up slightly to 4.43%. Investors continue to closely watch Fed Chair Powell’s upcoming remarks for cues on prospective rate adjustments.

Tariffs & Trade Developments

Trade policy remained a focus as the August 1 deadline for new U.S. tariffs approaches. The White House reiterated its intention to enforce tariffs ranging from 20% to 50% on imports from key partners, including Mexico and the EU. Market participants grew more optimistic about forthcoming trade agreements, with U.S. Commerce Secretary Howard Lutnick expressing confidence in ongoing talks with the EU, even as the possibility of countermeasures remains on the table.

Noteworthy Corporate News

NVIDIA Corporation (NVDA)
Nvidia has recently soared to a record market capitalization of $4.2 trillion, reflecting the company’s unrelenting dominance in AI and data center markets, but closed ar $171.38, -.60%. For Q1 FY2025, Nvidia reported a 12% revenue rise to $44.1 billion and a 26% surge in net income to $18.8 billion. Enthusiasm was further buoyed by news that the company can resume certain chip exports to China, supporting robust outlooks despite premium valuations.
Tesla, Inc. (TSLA)
Tesla shares closed at $328.49,-.35% as investors anticipate the company’s upcoming earnings release, despite the automaker’s second consecutive quarterly drop in global deliveries and as news rang up today about The Tesla Diner  & Drive-in, a long awaited overly hyped endeavor that is supposedly highlight retro nostalgia & futurism combined with Tesla’s fast charging network and that officially opened today in Hollywood, CA. Also, Tesla’s highly anticipated driverless robotaxi service launched in Austin, Texas, marking a new chapter for the company in autonomous mobility. This development is seen as a bold strategic pivot amid declining vehicle sales and ongoing scrutiny of CEO Elon Musk’s leadership.
Meta Platforms, Inc. (META)
Meta advanced +1.23% to $712.97, outperforming the broader S&P 500, as the company approaches its quarterly earnings report. Analyst optimism remains high, supported by recent price target increases—Morgan Stanley raised its target to $750, citing accelerating machine learning adoption and engagement gains. Investors are closely watching Meta’s AI initiatives and their impact on revenue and earnings growth.
McDonald’s Corporation (MCD)
McDonald’s shares traded at $295.74, -.45% with investors digesting recent analyst commentary and portfolio adjustments. The fast-food giant’s last earnings met consensus, but year-on-year revenue declined 3.5%. The company maintains strong profitability, and analysts expect EPS for the fiscal year to reach 12.25, though strategic positioning remains in focus given industry headwinds.
Oracle Corporation (ORCL)
Oracle closed the session down 0.78% at $243.54, marking its second consecutive day of decline amid lighter trading volumes. Over the past fortnight, the share price has nonetheless gained 4.86%. Oracle’s latest strategic moves include expanding its Exadata database suite to AWS and Azure, enhancing its cloud ecosystem and positioning the firm for future growth in hybrid cloud environments.
Palantir Technologies (PLTR)
Although no major news broke for Palantir Technologies today, the company remains in the spotlight as a data analytics and AI powerhouse pitching for government and commercial contracts, in line with broader tech sector momentum. Shares closed at $151.79, -1.13%.
Rio Tinto Group (RIO)
There were no significant corporate updates from Rio Tinto Group today. The mining giant’s shares continue to reflect underlying commodity price trends and sector rotation in global materials and closed at $62.05, +2.49%.

Commodities & Cryptocurrency

Gold finished lower at $3,404.20 per ounce, off 0.06% for the session, while silver also declined on the day closing at $39.15, -.15%. Oil prices continued their downward trend, with crude settling at $66.69 per barrel, reflecting pressure from supply-demand imbalances and macroeconomic apprehension. Bitcoin’s price remained volatile; the representative closing value hovered near recent support but no sharp moves were recorded in afternoon trade.

Vista Partners Watchlist Highlights & Updates

Eupraxia Pharmaceuticals (EPRX, $5.19) is clinical-stage biotechnology firm headquartered in Victoria, Canada, has quietly become one of the more intriguing stories on both sides of the border in 2025. The company’s shares now trade under the ticker EPRX on both the Nasdaq and the Toronto Stock Exchange, following its U.S. market debut in April 2024. This dual listing has broadened its investor base at a time when the company’s clinical and financial narrative is gaining momentum. All covering analysts currently rate the stock as a “Buy” or better, with not a single “Hold” or “Sell” recommendation in sight. In a sector defined by binary outcomes and frequent disappointment, such unanimity is striking. Overall, analysts cite Eupraxia’s strong clinical pipeline and revenue growth potential as key drivers behind their bullish outlook.

  • HC Wainwright: Initiated Covrage on EPRX with a “Strong Buy” on June 26, 2025.

  • Canaccord Genuity: Initiated coverage with a “Speculative Buy” rating in June 2025.

  • Raymond James Ltd.: Maintains a “Strong Buy” rating as of June 2025, with a history of upgrades from “Outperform” to “Strong Buy” over the past year.

  • Research Capital Corporation: Maintains a “Buy” rating, consistently reaffirming its positive stance throughout 2024 and 2025.

Eupraxia announced on July 8 that the first patient dosed in their Phase 2b randomized, placebo-controlled portion of the RESOLVE clinical trial evaluating EP-104GI, an investigational treatment for eosinophilic esophagitis (“EoE”). EP-104GI is injected directly into the affected tissues of the esophagus to reduce inflammation with stable, localized, and long-duration drug delivery, while minimizing unwanted systemic adverse events and side effects often associated with steroid-based therapies. The Phase 2b portion of the RESOLVE study will enroll a minimum of 60 participants randomized in a 1:1:1 ratio to receive one of two doses of EP-104GI or placebo. After six months, eligible patients initially dosed with placebo may elect to receive EP-104GI. The primary objective is to assess the efficacy of EP-104GI in improving tissue health, as measured by the Eosinophilic Esophagitis Histology Scoring System (“EoEHSS”). Secondary and exploratory objectives include evaluating symptomatic improvement through patient-reported outcomes — Straumann Dysphagia Index score (SDI) and Dysphagia Symptom Questionnaire (DSQ), endoscopic and histologic changes (including Peak Eosinophil Count, “PEC”), pharmacokinetics, safety, and tolerability of the selected dose regimens. Up to 25 sites globally are expected to participate in the trial.The Phase 2b portion of the study employs an innovative adaptive design to select the doses of EP-104GI that are administered to patients. The first active dose selection was based on available data from cohorts 1 to 8 of the Phase 2a portion of the study. Based on the previously reported safety, pharmacokinetic, and efficacy data from cohorts 1 to 6, and additional one month data from cohorts 7 and 8, the 120 mg dose (20 injections of 6 mg per site) from cohort 8 was selected for the first treatment arm in the dose optimization phase. A second dose will be selected for evaluation after enrollment in the first arm is complete, based on additional long-term data from the Phase 2a portion of the study. James Helliwell, CEO of Eupraxia Pharmaceuticals stated, “Entering into the Phase 2b stage of the RESOLVE trial is a significant event for Eupraxia. This is an important step for us before proceeding towards the pivotal trials necessary for submitting an application for regulatory approval. We are optimistic that EP-104GI has the potential to significantly advance the standard of care and offer a meaningful new treatment paradigm for patients living with EoE.”

Tribe Public hosted a CEO Presentation and Q&A Webinar Event on Wednesday, May 14th with James A. Helliwell, Director and CEO of Eupraxia Pharmaceuticals (NASDAQ: EPRX). The event is titled “Hard To Swallow: An Underdiagnosed Condition Rising To Surface (EOE).”  You may view it now at https://youtu.be/tCtY_27EJG4?si=0PJIp-oyGDEpzxzR

Summit Therapeutics Inc. (NASDAQ: SMMT, $26.34, +.53%) is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. Summit announced (May 30) topline results from the Phase III clinical trial, HARMONi, the first global Phase III study evaluating ivonescimab, successfully met the progression-free survival (PFS) primary endpoint and showed a positive trend in the other primary endpoint, overall survival (OS). HARMONi is a multiregional, double-blinded, placebo-controlled, Phase III study sponsored by Summit evaluating ivonescimab plus platinum-doublet chemotherapy compared to placebo plus platinum-doublet chemotherapy in patients with epidermal growth factor receptor (EGFR)-mutated, locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) who have progressed after treatment with a 3rd generation EGFR tyrosine kinase inhibitor (TKI). This is a clinical setting with a patient population where PD-1 monoclonal antibodies have previously been unsuccessful in Phase III global clinical trials in showing either a PFS or OS benefit.
Modular Medical, Inc. (NASDAQ: MODD, $.6990, +1.26%), an insulin delivery system technology company preparing to launch a market expansion product with a more accessible, easier to prescribe, and easier to pay for and live with technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.  On June 16, Modular Medical announced its participation in the American Diabetes Association (“ADA”) 85th Scientific Sessions, taking place June 20-23, 2025, at the McCormick Place Convention Center in Chicago, Illinois. The Company will feature a poster, number 783-P, titled “Elucidating the potential benefit of pump-delivered subcutaneous GLP-1R agonist: an exploratory study in the diet-induced obese mouse,” to be presented by David Maggs, MD, FRCP during the General Poster Session on Sunday, June 22, 2025, from 12:30pm to 1:30pm in the Poster Hall. The presentation will highlight data from an exploratory study evaluating the effects of pump-delivery of a short-acting GLP-1RA on weight, food intake, and glucose tolerance in a diet-induced obese (“DIO”) mouse.”We are excited to share our findings from this novel study in the DIO mouse comparing the pump delivery of exenatide to intermittent dosing of semaglutide,” said Jeb Besser, CEO of Modular Medical. “Given the high rate of gastrointestinal tolerability challenges and resultant discontinuation that is characteristic of GLP-1 therapy, we believe that a personalized approach to GLP-1 titration and dosing, including a mealtime bolus option, would give patients an opportunity to reach their treatment goals, while experiencing easier therapy initiation and a more tolerable maintenance regimen.” After the close May 28, Modular Medical announced the appointment of Jeff Goldberg to its Board of Directors. Mr. Goldberg brings decades of experience in health care, life sciences, and medical device leadership, including development of generic insulin. Mr. Goldberg began his work in medical technology alongside pioneering medical entrepreneur, and founder of MiniMed, Alfred E. Mann. Mr. Goldberg currently serves as Chairman of Lannett Company, Inc., a generic pharmaceutical manufacturer where he has helped execute a post-restructuring turnaround. During his tenure, Lannett has made significant strides in launching a generic insulin product – progress that aligns closely with Modular Medical’s commitment to innovation and affordability in diabetes care. In addition to his work at Lannett, Mr. Goldberg previously served as President and CEO within Alfred E. Mann’s incubator, IncuMed, where he oversaw multiple portfolio companies focused on drug-device combination products, including an insulin patch-pump program. His tenure with Mr. Mann’s enterprises included pivotal roles in regulatory strategy, operations turnaround, and successful exits, underscoring his ability to guide early-stage technologies to commercial viability. Mr. Goldberg also serves on the boards of several health-care and consumer-focused companies, including ATI Physical Therapy, Cano Health, and Eating Recovery Centers. He holds a JD from UCLA School of Law and an AB from Harvard College. Mr. Goldberg stated,  “Modular Medical is advancing a truly disruptive approach to insulin delivery. I’m excited to join the board and contribute to the Company’s journey toward simplifying treatment for people living with diabetes, particularly as the industry shifts toward more accessible and patient-friendly solutions.” Jeb Besser, CEO of Modular Medical, presented on May 29 at Tribe Public’s Webinar Presentation and Q&A Event titled“Making Diabetes Management Simpler: The New Era of Insulin Therapy.”You may view the event video now at the Tribe Public YouTube Channel.

Shares of ADT Inc. (ADT, $8.43) is a leading provider of monitored security and automation solutions for residential and small business customers in the United States and Canada.

ADT released Q1, 2025 results on Thursday, April 24 and highlighted the following: Continued strong financial results with record recurring monthly revenue and customer retention, GAAP operating cash flows up 28%, Adjusted Free Cash Flow including interest rate swaps up 105%, Returned $445 million to shareholders through share repurchases and dividends, and that they are on track to achieve full year 2025 guidance metrics.

On April 30, ADT in collaboration with Yale and the Z-Wave Alliance, announced the launch of the ​Yale Assure Lock 2 Touch with Z-Wave ​​​​for ADT+​. The Z-Wave 800 Series smart lock is the only one on the market with fingerprint control​ ​and ​the first smart lock to leverage the newly introduced Z-Wave User Credential Command Class. This industry-first innovation allows users to unlock and disarm their ADT+ security system using just their fingerprint.

On Jan. 22, ADT announced the appointment of Thomas Gartland to the Company’s Board of Directors as an additional independent director. In conjunction with his appointment, Gartland will join the Board’s Audit Committee. Gartland is chairman and chief executive officer of Montway Auto Transport, a privately held auto transport company, and has held this position since 2023. Prior to Montway, Gartland served as executive chairman of Scan Global Logistics and as president, North America, for Avis Budget Group. Gartland serves on the boards of Xenia Hotels & Resorts, Inc. and ABM.

GeoVax Labs, Inc. (Nasdaq: GOVX, $.82, +7.19%) is a clinical-stage biotechnology company developing immunotherapies and vaccines against cancers and infectious diseases. On July, 21, GeoVax reinforced the strategic and commercial significance of the recent positive Scientific Advice (SA) received from the European Medicines Agency (EMA) for its GEO-MVA vaccine targeting Mpox and smallpox. The EMA’s feedback indicated that a single Phase 3 immuno-bridging trial, bypassing the need for Phase 1 and 2 studies, may be sufficient to support a Marketing Authorization Application (MAA) under the EU’s centralized procedure. The ability to proceed without Phase 1 and 2 clinical trials substantially reduces development risk and timelines, positioning GeoVax to achieve product commercialization and revenue generation significantly earlier than previously anticipated. Immuno-bridging studies allow for vaccine approval by the immune response elicited by a candidate vaccine comparable to that of an already approved vaccine. This approach, when accepted by regulatory authorities, can reduce the need for large-scale efficacy trials, thereby reducing development time while maintaining regulatory standards for safety and immunogenicity. “This EMA guidance is more than a regulatory milestone; it represents a potential commercial inflection point,” said David Dodd, Chairman and CEO of GeoVax. “We now have a clear, expedited path to commercialization in one of the world’s largest vaccine markets. With the Phase 3 trial in operational preparation, we are entering a potential revenue acceleration phase supported by growing global demand, regulatory momentum, and our progressing advanced MVA manufacturing platform.” On July 16, GeoVax issued a statement underscoring the increasing urgency of expanding global Mpox vaccine access, as recent data from the Airfinity July 2025 Mpox Report highlight significant new outbreaks and rising global transmission of Clade I and Clade II Mpox. On July 3, GeoVax emphasized the urgent need for innovation in COVID-19 vaccination as the NB.1.8.1 variant – commonly known as “Nimbus” – spreads rapidly across the globe. Nimbus, a highly transmissible Omicron subvariant classified by the World Health Organization as a “Variant Under Monitoring,” is now dominant in multiple U.S. states and surging across Europe and Asia. Though not more severe, its rapid spread and potential for immune escape reflect an increasingly clear reality: COVID-19 is not going away, and it will continue to evolve.
Indaptus Therapeutics, Inc. (Nasdaq: INDP, $10.90) is a company with the ability to harness both the body’s innate and adaptive immune responses, believes that they are uniquely positioned to revolutionize the treatment of cancer and certain infectious diseases. On July 1, Indaptus announced the additional sale of approximately $3.4 million in aggregate principal amount of convertible promissory notes and accompanying warrants. Together with a prior sale of $2.3 million of convertible promissory notes and accompanying warrants, the Company raised an aggregate of $5.7 million in gross proceeds in this offering. On June 2, Indaptus announced that the first patient has been dosed in the expansion arm of its Phase 1b/2 clinical trial evaluating Decoy20 in combination with BeOne’s (formerly known as Beigene) PD-1 checkpoint inhibitor, tislelizumab. This newly activated arm of the trial will assess safety, dose optimization, and early signs of anti-tumor activity in patients with advanced solid tumors, previously treated with a checkpoint inhibitor or with tumors typically unresponsive to a checkpoint inhibitor. Jeffrey Meckler, Indaptus’ CEO commented, “This is an important milestone in our clinical development. We have long believed the Decoy platform has the potential to be a game-changing approach to treating solid tumors. Preclinical data consistently demonstrated that Decoy20 works synergistically with a checkpoint inhibitor. Now, for the first time, we are testing this combination in patients. Checkpoint inhibitors, like tislelizumab, have been one of the biggest breakthroughs in cancer therapy and have significantly improved outcomes in a variety of cancers. However, most patients still do not benefit. We believe the combination of Decoy20 plus a PD-1 inhibitor, such as tislelizumab, could enhance immune responses, potentially helping patients who have not responded or have tumors that classically do not respond to checkpoint inhibitor therapy.”
Teladoc Health (TDOC, $8.33, +3.48%) is the world leader in virtual care. Teladoc Health uses proprietary health signals and personalized interactions to drive better health outcomes across the full continuum of care, at every stage in a person’s health journey. Teladoc Health leverages more than two decades of expertise and data-driven insights to meet the growing virtual care needs of consumers and healthcare professionals. For more information, please visit www.teladochealth.com. Teladoc will release second quarter 2025 results on Tuesday, July 29, 2025, after the market closes.
Serina Therapeutics, Inc. (NYSE American: SER, $5.35), a clinical-stage biotechnology company, today announced that its Board of Directors has established November 7, 2025, as the date of its 2025 annual meeting of stockholders (the “Annual Meeting”). The time and location of the Annual Meeting will be set forth in the Serina’s definitive proxy statement for the Annual Meeting to be filed with the Securities and Exchange Commission (the “SEC”). Because the date of the Annual Meeting represents a change of more than 30 days from the anniversary of Serina’s 2024 annual meeting of stockholders, the deadline for stockholder proposals to be submitted pursuant to Rule 14a-8 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), for inclusion in Serina’ proxy materials for the Annual Meeting will be 5:00 p.m. (Central Time) on Friday, August 15, 2025, which Serina’s Board of Directors has determined to be a reasonable period of time before Serina expects to begin to print and send its proxy materials for the Annual Meeting. Stockholder proposals submitted in accordance with Rule 14a-8 of the Exchange Act must also comply with the remaining requirements of Rule 14a-8 in order to be included in the proxy materials for the Annual Meeting. Serina is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology. For more information, please visit https://serinatherapeutics.com.

Quote of the Day

“Less is only more where more is no good.” Frank Lloyd Wright
Sources
[1] S&P 500 and Nasdaq notch record high closes, lifted by Alphabet https://www.reuters.com/business/sp-500-nasdaq-notch-record-high-closes-lifted-by-alphabet-2025-07-21/
[2] S&P 500 posts first close above 6,300, Nasdaq hits a record ahead of big tech earnings: Live updates https://www.cnbc.com/2025/07/20/stock-market-today-live-updates.html
[3] How major US stock indexes fared Monday, 7/21/2025 | AP News https://apnews.com/article/wall-street-stocks-dow-nasdaq-ff039b99be02f400f97f5d7d14174929
[4] S&P, Nasdaq Close at New Record Highs, Ignore Weakness in LEI https://www.zacks.com/stock/news/2600866/sp-nasdaq-close-at-new-record-highs-ignore-weakness-in-lei
[5] US Leading Indicators – The Conference Board https://www.conference-board.org/topics/us-leading-indicators/
[6] Market Summary Week of July 21, 2025 – Shore United Bank https://www.shoreunitedbank.com/market-summary-week-of-july-21-2025
[8] As Nvidia breaks through $4trn, what next for the stock price? https://www.fool.co.uk/2025/07/21/as-nvidia-breaks-through-4trn-what-next-for-the-stock-price/
[10] Meta Platforms (META) Laps the Stock Market: Here’s Why – Zacks https://www.zacks.com/stock/news/2600964/meta-platforms-meta-laps-the-stock-market-heres-why
[11] Meta Platforms Stock (META) Opinions on Morgan Stanley Price Target Raise https://www.quiverquant.com/news/Meta+Platforms+Stock+(META)+Opinions+on+Morgan+Stanley+Price+Target+Raise
[14] Oracle Stock Price Forecast. Should You Buy ORCL? – StockInvest.us https://stockinvest.us/stock/ORCL
[15] Oracle’s Trading Volume Drops 26.78% Ranking 36th in Market https://www.ainvest.com/news/oracle-trading-volume-drops-26-78-ranking-36th-market-2507/
[16] Perplexity Finance – Quotes, Forecasts, News, Charts, and More https://www.perplexity.ai/finance
[19] Top $TSLA Levels To Watch for July 21st, 2025 – YouTube https://www.youtube.com/watch?v=RM_CJrCgJQs
[20] Indexes stretch gains; Astera Labs, Urban Outfitters, Wheaton in focus https://www.youtube.com/watch?v=D67Edvz5uvs
[21] Top $NVDA Levels To Watch for July 21st, 2025 – YouTube https://www.youtube.com/watch?v=-nwXz21v_Ek

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