By Heard Editors

What Happened in Markets Today

The S&P 500 closed at a record for the fifth session in a row. The S&P 500 advanced 0.4% on Friday, and the Nasdaq composite rose 0.2%, both at all-time high closing levels. The Dow Jones Industrial Average also added 208 points.

The dollar was boosted by calming Fed politics. After a visit to the renovation of the Federal Reserve's headquarters, President Trump said he didn't think it was necessary to move to fire chair Jerome Powell. The WSJ Dollar Index rose about 0.3%, while gold fell.

There were mixed prospects for trade deals. As the Aug. 1 tariff deal deadline looms, the president said on Friday that "we haven't really had a lot of luck with Canada," but talked up progress with the EU. A meeting with European Commission President Ursula von der Leyen is set for Sunday in Scotland.

Volkswagen is seeking its own trade pact. The automaker said tariffs have cost it $1.5 billion so far. But its chief executive told reporters the company is aiming for tariff relief matched with U.S. investments. Its U.S.-traded shares were up about 3%.

Deckers Outdoor led the S&P 500. The footwear maker reported a strong quarter, as Hoka and Ugg shoes boosted sales. Shares were up over 11%.

Charter Communications fell steeply. The pay-TV and internet-service provider reported lower-than-expected earnings and tepid revenue growth. Shares fell more than 18%.

This analysis comes from the Journal's Heard on the Street team. Subscribe to their free daily afternoon newsletter here.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

July 25, 2025 17:13 ET (21:13 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.