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Wall Street drifts near its record heights

October 21, 2025
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Wall Street drifts near its record heights
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NEW YORK (AP) — The U.S. stock market is drifting near its record heights on Tuesday as the floodgates open for companies reporting how much profit they made during the summer.

The S&P 500 slipped 0.1% in morning trading and is sitting 0.4% below its all-time high set earlier this month. The Dow Jones Industrial Average was up 155 points, or 0.3%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.3% lower.

rallied 14.3% after reporting stronger quarterly results than analysts expected, while also raising its forecasts for some full-year financial targets. CEO Mary Barra said it’s moving quickly to reduce its losses in 2026 and beyond for its electric-vehicle business, as “it is now clear” that EV adoption will be lower than planned.

RTX, the aerospace and defense company, and Danaher, the life sciences and diagnostics company, also jumped to gains of more than 6.5% after delivering better profit for the latest quarter than analysts expected. rose 3.3% after likewise topping Wall Street’s profit expectations.

Warner Bros. Discovery leaped 9.2% after the company said it’s besides its of Discovery Global off Warner Bros. that could be more profitable for shareholders. The company said it made the move after hearing from “multiple parties” interested in either the entire company or Warner Bros.

They helped offset a drop for PulteGroup, which fell 2.2% even though the homebuilder delivered a stronger profit than analysts expected. Northrop Grumman slipped 0.8% after its revenue for the latest quarter fell short of analysts’ forecasts.

Several Big Tech stocks lost momentum, taking a break from their own rallies, and also kept the market in check. A 1.9% drop for Google parent Alphabet from its all-time high was one of the heaviest weights on the S&P 500. Nvidia sank 1.3%.

Other big recent winners in financial markets also took a pause. The price of gold fell 4.4% from its latest record, dropping back to $4,167.00 per ounce. It’s for the year so far.

The pressure is on companies to show that their profits are growing following a torrid rally of 35% for the S&P 500 from a low in April. It’s one way they can justify their high stock prices amid criticism .

Corporate earnings reports also have gained importance because they provide details on the strength of the U.S. economy when has delayed . That’s making the job of the Federal Reserve more difficult, as it tries to decide whether or is the bigger issue for the economy.

Despite the shutdown, the Commerce Department will release its consumer prices report on Friday, which could help guide the Fed’s interest rate policy. It’s the government’s first data release since the shutdown began on Oct. 1.

In stock markets abroad, indexes rose across much of Europe and Asia.

Japan’s Nikkei 225 added 0.3% and crept closer to the 50,000 level as conservative lawmaker became the country’s prime minister. Investors expect her to push for that could help the market.

Indexes rose 1.4% in Shanghai and 0.7% in Hong Kong amid expectations that will meet with Chinese President Xi Jinping later this month during a regional summit. That’s raised hopes for an easing of trade tensions between the world’s biggest economies.

In the bond market, the yield on the 10-year Treasury eased to 3.95% from 4.00% late Monday.

___

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

The post Wall Street drifts near its record heights appeared first on Associated Press.

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