By Heard Editors

What Happened in Markets Today

Stocks held firm as earnings season continued. The S&P 500 added just 0.1%, and the Nasdaq composite gained 0.4%. The Dow Jones Industrial Average shed a scant 19 points.

Tariff negotiations continue. Ahead of President Trump's Aug. 1 deadline, the European Union is still striving for a deal. But a baseline U.S. tariff of 15% or more appears to be too high for European negotiators, who are now readying a package of retaliatory measures if that rate can't be lowered further in talks.

Verizon shares jumped. The telecommunications giant raised its annual earnings forecast, and its shares rallied 4%, leading the S&P 500.

Domino's Pizza slipped. Same-store sales topped forecasts last quarter, helped by growth in U.S. delivery and carryout. But shares fell 0.8% as margins fell on higher insurance and food costs.

The consumer economy appears steady. Downturn fears following tariff policy changes are easing, with confidence and spending rebounding.

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

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(END) Dow Jones Newswires

July 21, 2025 16:59 ET (20:59 GMT)

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