Morning Report 22 Jul 25: Earnings push Wall Street to new record highs
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Morning Report 22 Jul 25: Earnings push Wall Street to new record highs
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Wall Street briefly touched new record highs overnight, but those gains faded by the close as investor sentiment shifted on renewed trade uncertainty. Communication stocks led early momentum, boosted by better-than-expected earnings, with Alphabet climbing nearly 3% ahead of its results. However, energy stocks dragged on the broader market, plunging as oil prices declined. In contrast, iron ore prices hit five-month highs following news of a major megadam project in China. Back home, the Aussie share market is set for a flat open as investors await the release of the RBA meeting minutes.
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