Trading results for 2 July 2025
Wednesday saw another rise in the shares of the largest technology companies, pushing the leading U.S. indexes to new highs. The tech sector within the broad S&P 500 index added more than 1% (+1.34%), driven largely by gains in Apple (AAPL), Nvidia (NVDA) and Tesla (TSLA) – three members of the so-called «Magnificent Seven», which have helped propel the major indexes to record levels in recent years.
Notably, the Mag7 has recovered from the sharp drop triggered by the tariff shock in April. However, recent doubts about their leadership in the artificial intelligence race have dampened enthusiasm among some investors.
As a result, the key U.S. market benchmark – the S&P 500 – rose 0.47%, closing at its sixth all-time high of 2025. The tech-heavy Nasdaq Composite climbed even higher, gaining 0.94% and setting its third record of the year. Meanwhile, the industrial Dow Jones Industrial Average (DJIA) slightly underperformed, slipping a symbolic 0.02%.
Overall, Wednesday’s session can be considered a success – especially given the weak start following the release of disappointing labor market data from ADP. In June, the U.S. economy lost jobs: instead of the expected gain of 99,000, there was a decline of 33,000. Moreover, May’s figures were revised downward from a gain of 37,000 to a loss of 29,000. In other words, the economy hasn’t been creating jobs over the past two months – it’s been losing them. This is clearly a troubling sign and a negative indicator for the broader economy.
Despite this, the market, which opened near flat, managed to push higher. Investors were encouraged by comments from President Trump, who said the U.S. had reached a tariff agreement with Vietnam – reportedly agreeing to cut existing duties from 46% to 20%. A victory, supposedly – though whether it truly is remains to be seen.
The ITS index family also gave investors reason to cheer, with several benchmarks reaching new all-time highs – mirroring the performance of their U.S. counterparts. The ITS Shariah Index (ITSS), in particular, has recently outpaced the ITS World Index (ITSW) in terms of growth and is rapidly closing the gap in absolute value. By the end of yesterday’s session, ITSS was up nearly 1.5% (+1.45%), while ITSW gained 0.31%.
The Shariah index clearly reflects where investors are focusing their attention and placing their bets. Among the top ten performers on Wednesday, nine were technology companies. The only exception was industrial giant Caterpillar (CAT), whose shares have risen for nearly two weeks straight, gaining more than 10% over that period.
However, the best performers across all major indexes were not Caterpillar, but Oracle (ORCL, +5.03%) and Tesla (TSLA, +4.97%). It was especially encouraging to see Tesla among the leaders, after starting the week with a sharp sell-off sparked by yet another clash between President Trump and Elon Musk. On Wednesday, Tesla shares surged nearly 5%, recovering Tuesday’s losses and becoming one of the day’s top gainers across the main indexes.
This rally came despite mixed earnings: the electric carmaker reported a 13.5% year-on-year drop in global sales for the Q2. For the second quarter in a row, production exceeded deliveries. That might not sound encouraging – but the market had expected worse, and Tesla’s management helped ease concerns on Wall Street. The company highlighted its long-term strategy – including investment in autonomous driving software and the development of its humanoid robot Optimus – as key drivers of future growth.
Overall, the day ended on an upbeat note. The indexes reached new heights, and market participants appear ready to head into U.S. Independence Day with confidence and optimism.