General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names. In addition, the company sells trucks, crossovers, cars, and automobile parts through retail dealers, and distributors and dealers, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. Further, it offers range of after-sale services through dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories, and extended service warranties. Additionally, the company provides automotive financing; and software-enabled services and subscriptions. General Motors Company was founded in 1908 and is headquartered in Detroit, Michigan.

General Motors Company

Wall Street closed higher on Friday, driven by manufacturing and discretionary stocks. Markets were boosted by the optimism that the United States was on the verge of striking a trade deal with the European Union. All three benchmark indexes closed in the green.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.5%, or 208.01 points, to close at 44,901.92. Eighteen components of the 30-stock index ended in positive territory, 11 ended in negative, while one remained unchanged.
The tech-heavy Nasdaq Composite gained 50.36 points, or 0.2%, to close at 21,108.32.
The S&P 500 added 25.29 points, or 0.4%, to close at 6,388.64. Eight of the 11 broad sectors of the benchmark index closed in the green. The Materials Select Sector SPDR (XLB), the Industrials Select Sector SPDR (XLI) and the Consumer Discretionary Select Sector SPDR (XLY) advanced 1.2%, 1% and 0.9%, respectively, while the Communication Services Select Sector SPDR (XLC) lost 0.9%.
The fear gauge CBOE Volatility Index (VIX) decreased 3% to 14.93. A total of 17.7 billion shares were traded on Friday, lower than the last 20-session average of 18.1 billion. Advancers outnumbered decliners by a 2-to-1 ratio within the S&P 500.
Indexes Scale Record Highs on Trade Optimism
On Friday, the stock markets surged to record highs, fueled by growing optimism over potential trade agreements. Investors responded positively to signs of progress in U.S. trade negotiations with key partners, particularly Japan and the European Union. The U.S.-Japan agreement, already in motion, set a favorable tone, and expectations arose that the United States and EU could soon finalize a similar deal to prevent tariff hikes scheduled for Aug. 1. European Commission President Ursula von der Leyen was set to meet President Trump in Scotland over the weekend. This easing of trade tensions removed a key source of policy uncertainty that had been weighing on investor sentiment, prompting a wave of risk-on behavior across the markets.
The positive momentum was further reinforced by strong corporate earnings, with roughly 85% of S&P 500 companies reporting results that exceeded analyst expectations. This earnings strength, combined with reduced trade anxiety, boosted investor confidence globally. Sectors sensitive to trade policy, including industrials and consumer discretionary, saw notable gains as investors priced in the likelihood of a more stable international trade environment. The optimism also lifted commodity markets, while safe-haven assets like gold saw modest declines. Overall, the market rally on July 25 reflected investor confidence that trade tensions were easing and that the economic outlook remained resilient heading into the second half of the year.
Consequently, shares of General Motors Company GM and Nucor Corporation NUE added 2% and 3.1%, respectively. Both currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Deckers Outdoor Soars on Strong Earnings Report
Stocks of Deckers Outdoor Corporation DECK soared 11.4% on Friday, having reported strong earnings and revenue numbers for first-quarter fiscal 2026. The company came out with quarterly earnings of 93 cents per share, beating the Zacks Consensus Estimate of 68 cents per share. Also, it posted revenues of $964.54 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 7.29%. This brought positive momentum to the discretionary sector.
Weekly Roundup
Last week, the S&P 500 climbed 1.5%, the Nasdaq Composite added 1% and the Dow Jones Industrial Average rose 1.3%. After November 2021, this was the first instance when the S&P 500 had closed a week with a closing high achieved in each session. Throughout the week, the goings on in the markets were primarily dictated by positive expectations about potential trade deals with the United States’ trading partners like the EU, Japan and China.
Economic Data
Per the U.S. Census Bureau, durable goods orders for June decreased 9.3%. The number for May was revised up to an increase of 16.5% from the previously reported 16.4%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
Download Atomic Opportunity: Nuclear Energy's Comeback free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Market News for Jul 28, 2025

Key Points
For a second straight quarter, Tesla posted weak auto deliveries and revenue.
The company once again hyped its robotaxi and robot ambitions.
The stock is largely valued based on future bets paying off, making it risky to own.
Tesla (NASDAQ: TSLA) has long been a stock that's traded more on the vision of its founder Elon Musk than on its actual fundamentals. However, with the stock sinking following Tesla's lackluster second-quarter earnings report -- despite more big promises around robotaxis and robots -- reality might finally be catching up to it.
Musk has done a lot of brand damage to Tesla over the past six months or so. His funding of President Donald Trump's campaign and overseeing the Department of Government Efficiency (DOGE) angered many liberal-leaning consumers. He then later got in a very public feud with the President he helped get elected, alienating himself and Tesla from many conservatives, as well.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
The fallout could be seen in Tesla's Q2 numbers, while tariffs also stung the company. Meanwhile, it will soon see an even potentially bigger headwind due to the expiration of the U.S. electric vehicle (EV) credit by the end of third-quarter 2025.
Its core auto business is struggling
For the second straight quarter, Tesla saw big declines in its core auto business. After a 13% drop in deliveries in the first quarter, deliveries fell by the same amount in Q2. Model 3 and Model Y deliveries decreased by 12%, while other models plunged by 52%.
Tesla's auto revenue plunged 16% to $16.7 billion in the quarter. Within its auto revenue, its regulatory credits, which are pure gross margin, fell by more than half to $429 million. Not surprisingly, this affected Tesla's profitability in the quarter.
Even worse for the company is that many of these regulatory credits will soon be going away. Trump's "Big Beautiful Bill" will eliminate the current federal $7,500 EV tax credit at the end of September. As a result, Musk admitted that the company could be in for a "few rough quarters" ahead.
Overall, Tesla's revenue fell 12% to $22.5 billion. Its energy generation and storage revenue dropped 7% to $2.8 billion, while its service revenue climbed 17% to nearly $3.1 billion. Adjusted earnings per share sank 23% to $0.40, while its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) declined by 7% to $3.4 billion.
Tesla's cash flow is also starting to take a hit. Its operating cash flow sank 30% to $2.5 billion, while its free cash flow cratered by 89% to $146 million.
More big promises
Given Tesla's poor operating results, it was not surprising that Musk and the rest of management directed the conversation toward Tesla's big bets on autonomous driving and robotics. Musk claimed that Tesla will expand its autonomous ride-hailing service to cover half of the U.S. population by the end of this year, pending regulatory approval.
Now, of course, such a statement makes little sense. The company is currently only testing a small geofenced area in Austin, Texas, with safety drivers, and it has already had a number of safety issues in this small pilot. Its technology appears nowhere close to ready to be adopted in cities countrywide.
But let's say, for argument's sake, that the technology and regulatory approvals work out. The company would then need hundreds of thousands of Level 4 autonomous driving vehicles on the road (not its current Level 2 vehicles). Beyond that, it would also need service and cleaning centers, as well as charging infrastructure in place to handle a fleet of that size. It would also need to have a consumer-facing platform that can handle things like pre-trip pricing, dynamic fare calculations, disputes, and refunds. There is no evidence that Tesla has any of this in place.
Meanwhile, Musk continued to sing the praises of his Optimus robot, saying it will be Tesla's biggest product ever. He said Optimus 3 has an "exquisite" design with no significant flaws. He's looking to have a prototype of the new robot by the end of this year and then scale production next year. He then wants to be able to produce 1 million Optimus robots a year within five years.
Once again, this seems ambitious. Amazon (NASDAQ: AMZN) is currently an AI robotics leader, and companies like Boston Dynamics have showcased robots with advanced mobility, so robots can be hugely useful. However, all Tesla has ever demonstrated is a humanoid robot that could only do carefully choreographed tasks. Today, most factory automation is done by specialized, fixed-purpose robots. The use case for a humanoid robot is still very questionable.
Should investors buy the dip?
Even after the stock pullback, Tesla's stock trades at a forward price-to-earnings ratio (P/E) of over 170x based on 2025 analyst estimates, while its profitable auto peers -- like Ford, General Motors, and Stellantis -- generally have multiples of 10 or less.
With its core auto business struggling, this indicates that the bulk of Tesla's market cap is predicated on ambitions that may or may not pan out. Given the company's track record of overpromising and under-delivering, this is not a bet I'd make.
Don’t miss this second chance at a potentially lucrative opportunity
Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:
Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $449,961!*
Apple: if you invested $1,000 when we doubled down in 2008, you’d have $40,603!*
Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $636,628!*
Right now, we’re issuing “Double Down” alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.
*Stock Advisor returns as of July 21, 2025
Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Tesla. The Motley Fool recommends General Motors and Stellantis. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tesla Shares Tumble. Is It Time to Buy the Dip or Run for the Hills?

Key Points
Tariffs cost GM about $1.1 billion during the second quarter.
Tariff impacts are expected to be even worse during the third quarter.
GM's restructuring in China is paying off.
The market might be slow to realize it, but General Motors (NYSE: GM) has been doing a lot of things right over the past few years. GM has invested in its core portfolio of vehicles, returned value to shareholders through massive buyback programs, and gained market share over its competitors, all while keeping margin-eroding incentives in check. So let's dig into why GM shares were trending lower this week after the company reported a 35% plunge in net income.
Tariffs pack a punch
General Motors posted solid second-quarter earnings on July 22 despite operating in a challenging and uncertain environment. What many might not know is that GM imports quite a few vehicles, which makes the current tariff impact noticeable. In fact, GM imported roughly 45% of the vehicles sold in the U.S. market in 2024, mostly from Mexico and South Korea.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
GM said that tariff impacts in the second quarter cost the company $1.1 billion, and it's holding its guidance for the full-year impact to be between $4 billion and $5 billion. The Detroit automaker isn't waiting around for tariffs to be reduced, and believes it can offset at least 30% of tariff impacts through cost initiatives, pricing, and manufacturing adjustments.
The tariffs weighed on GM's bottom line in its most important market, North America. North American pre-tax profit dropped 46% to $2.4 billion. Overall, GM's adjusted earnings before interest and taxes (EBIT) dropped 32% to $3.04 billion.
"Tariffs are obviously a big story for us," CFO Paul Jacobson said on CNBC. "We're in a bit of an adjustment phase right now, but I think the team is really firing on all cylinders."
Unfortunately, it's a story that's going to get worse before it gets better. GM expects a higher tariff impact during the third quarter despite working to offset the bump in costs. GM plans to invest roughly $4 billion to build more gasoline-powered vehicles, including building the Chevrolet Equinox in Kansas and moving production of the Chevrolet Blazer from Mexico to Tennessee.
In other news
Moving tariffs and their impact aside, there were certainly bright spots in GM's second quarter. One such bright spot is its average transaction price (ATP), which topped $51,000 during the second quarter, while incentives as a percentage of ATP checked in two points lower than the industry average.
Another bright spot was the automaker's results in the world's largest automotive market, China, where the company had been struggling. GM has worked to restructure its operations in the country and reported China equity income of $71 million, very favorable compared to the $104 million loss in the prior year's second quarter. It was the second consecutive quarter of year-over-year sales gains in China, driven by its new energy vehicle (NEV) lineup. GM gained more market share than any foreign competitor.
What it all means
It's a challenging time in the automotive industry as GM navigates tricky waters that include not only tariff impacts, but also an uncertain electric vehicle (EV) market that has taken off more slowly than anticipated. But the future is almost certainly EVs, and GM will continue to invest in its lineup of EVs that recently took over the No. 2 brand spot for sales volume in the U.S. market.
GM posted a solid quarter, but investors will have to remain patient as the company works through mitigating tariff impacts in the near term as they will weigh on margins and the company's bottom line. But that's just business in the auto industry currently.
Should you invest $1,000 in General Motors right now?
Before you buy stock in General Motors, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and General Motors wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,064,942!*
Now, it’s worth noting Stock Advisor’s total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of July 21, 2025
Daniel Miller has positions in General Motors. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

What Caused GM's Dramatic 35% Drop in Net Income?

Ford Motor (NYSE:F) is set to report its earnings on Wednesday, July 30, 2025. Consensus projects earnings of about $0.33 per share, down from $0.47 per share in the year-ago quarter, while revenues are likely to come in at about $43.93 billion, down 2% compared to the last year. Ford has already reported its vehicle delivery numbers for the U.S. for Q2, with sales rising 14.2% year-over-year to 612,095 units. Growth was driven primarily by strong demand for pickups such as the F-Series, Ranger, and Maverick, which collectively saw a 15% increase. F-Series sales rose 11.5% to 222,459 units – marking the best Q2 since 2019. A higher mix of pickup sales, which are much more profitable than sedans, could help support Ford’s margins.
The new tariffs on autos and components imposed by the Trump Administration may weigh on costs and profitability over the quarter. For perspective, Ford’s peer GM took a $1.1 billion hit to its Q2 earnings due to the tariffs. That said, Ford may be better positioned than most rivals, with an estimated 80% of its U.S. sales in 2024 coming from domestically assembled vehicles.
The company has $44 billion in current market capitalization. Revenue over the last twelve months was $183 billion, and it was operationally profitable, with $4.3 billion in operating profits and net income of $5.0 billion. While a lot will depend on how results stack up against consensus and expectations, understanding historical patterns might just turn the odds in your favor if you are an event-driven trader.
There are two ways to do that: understand the historical odds and position yourself prior to the earnings release, or look at the correlation between immediate and medium-term returns post earnings and position yourself accordingly after the earnings are released. That said, if you seek upside with lower volatility than individual stocks, the Trefis High Quality portfolio presents an alternative – having outperformed the S&P 500 and generated returns exceeding 91% since its inception.
Ford Motor’s Historical Odds Of Positive Post-Earnings Return
Some observations on one-day (1D) post-earnings returns:
There are 20 earnings data points recorded over the last five years, with 10 positive and 10 negative one-day (1D) returns observed. In summary, positive 1D returns were seen about 50% of the time.
However, this percentage decreases to 42% if we consider data for the last 3 years instead of 5.
Median of the 10 positive returns = 2.6%, and median of the 10 negative returns = -8.0%
Additional data for observed 5-Day (5D), and 21-Day (21D) returns post earnings are summarized along with the statistics in the table below.
Correlation Between 1D, 5D, and 21D Historical Returns
A relatively less risky strategy (though not useful if the correlation is low) is to understand the correlation between short-term and medium-term returns post earnings, find a pair that has the highest correlation, and execute the appropriate trade. For example, if 1D and 5D show the highest correlation, a trader can position themselves “long” for the next 5 days if 1D post-earnings return is positive. Here is some correlation data based on 5-year and 3-year (more recent) history. Note that the correlation 1D_5D refers to the correlation between 1D post-earnings returns and subsequent 5D returns.
Learn more about Trefis RV strategy that has outperformed its all-cap stocks benchmark (combination of all 3, the S&P 500, S&P mid-cap, and Russell 2000), to produce strong returns for investors. Separately, if you want upside with a smoother ride than an individual stock like Ford Motor, consider the High Quality portfolio, which has outperformed the S&P, and clocked >91% returns since inception
Invest with Trefis Market Beating Portfolios
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

How Will Ford Motor Stock React To Its Upcoming Earnings?

Shareholders of General Motors Co (Symbol: GM) looking to boost their income beyond the stock's 1.2% annualized dividend yield can sell the December 2026 covered call at the $62.50 strike and collect the premium based on the $4.25 bid, which annualizes to an additional 5.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 7.1% annualized rate in the scenario where the stock is not called away. Any upside above $62.50 would be lost if the stock rises there and is called away, but GM shares would have to advance 22.3% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 30.6% return from this trading level, in addition to any dividends collected before the stock was called.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of General Motors Co, looking at the dividend history chart for GM below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 1.2% annualized dividend yield.
Below is a chart showing GM's trailing twelve month trading history, with the $62.50 strike highlighted in red:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the December 2026 covered call at the $62.50 strike gives good reward for the risk of having given away the upside beyond $62.50. (Do most options expire worthless? This and six other common options myths debunked). We calculate the trailing twelve month volatility for General Motors Co (considering the last 250 trading day closing values as well as today's price of $51.04) to be 38%. For other call options contract ideas at the various different available expirations, visit the GM Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Wednesday, the put volume among S&P 500 components was 556,880 contracts, with call volume at 1.21M, for a put:call ratio of 0.46 so far for the day. Compared to the long-term median put:call ratio of .65, that represents very high call volume relative to puts; in other words, buyers are preferring calls in options trading so far today. Find out which 15 call and put options traders are talking about today.
BLDP Videos
Institutional Holders of LVIN
SFTW Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

YieldBoost GM To 7.1% Using Options

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR MSCI USA StrategicFactors ETF (Symbol: QUS), we found that the implied analyst target price for the ETF based upon its underlying holdings is $180.73 per unit.
With QUS trading at a recent price near $164.17 per unit, that means that analysts see 10.09% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of QUS's underlying holdings with notable upside to their analyst target prices are Philip Morris International Inc (Symbol: PM), General Motors Co (Symbol: GM), and Fifth Third Bancorp (Symbol: FITB). Although PM has traded at a recent price of $165.27/share, the average analyst target is 17.24% higher at $193.77/share. Similarly, GM has 11.64% upside from the recent share price of $48.89 if the average analyst target price of $54.58/share is reached, and analysts on average are expecting FITB to reach a target price of $47.03/share, which is 10.30% above the recent price of $42.64. Below is a twelve month price history chart comparing the stock performance of PM, GM, and FITB:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
SPDR MSCI USA StrategicFactors ETF
QUS
$164.17
$180.73
10.09%
Philip Morris International Inc
PM
$165.27
$193.77
17.24%
General Motors Co
GM
$48.89
$54.58
11.64%
Fifth Third Bancorp
FITB
$42.64
$47.03
10.30%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Analysts Predict 10% Gains Ahead For The Holdings of QUS

Key Points
Revenue (GAAP) reached $47.1 billion for Q2 2025, beating expectations with non-GAAP EPS of $2.53 (analyst estimate: $2.34) and GAAP revenue of $47,122 million (analyst estimate: $45,843.29 million) but down 1.8% from the prior year.
Earnings per share (adjusted, non-GAAP) were $2.53, surpassing analyst estimates but down 17.3% compared to Q2 2024.
Management reaffirmed full-year guidance despite ongoing margin and cash flow pressures.
General Motors (NYSE:GM), a leading automaker with a broad portfolio of cars, trucks, and SUVs, announced its Q2 2025 earnings on July 22, 2025. The company delivered GAAP revenue of $47.1 billion, surpassing analyst estimates of $45.8 billion (GAAP). Adjusted diluted earnings per share were $2.53, exceeding the consensus expectation of $2.34 (non-GAAP). Despite outpacing Wall Street’s expectations, both revenue and profit saw notable year-over-year declines. Management maintained its full-year financial guidance, pointing to steady execution amid substantial industry headwinds, though North American profitability and free cash flow were materially lower than last year. Overall, the quarter showed resilience versus expectations but flagged ongoing core business pressures.
Metric
Q2 2025
Q2 2025 Estimate
Q2 2024
Y/Y Change
EPS-diluted-adjusted (Non-GAAP)
$2.53
$2.34
$3.06
(17.3%)
Revenue
$47.1 billion
$45.8 billion
$47.97 billion
(1.8%)
EBIT-adjusted
$3.0 billion
$4.4 billion
(31.6%)
Net income attributable to stockholders
$1.9 billion
$2.9 billion
(35.4%)
Adjusted automotive free cash flow
$2.8 billion
$5.3 billion
(46.6%)
Understanding General Motors’ Business and Focus
General Motors designs, manufactures, and sells vehicles and related services worldwide. Its brand lineup includes Chevrolet, GMC, Cadillac, and Buick, serving customers in North America and around the globe. In addition to traditional gas-powered vehicles, it invests heavily in electric vehicles and advanced driver-assistance systems. The company also runs a significant auto finance segment through GM Financial.
In recent years, General Motors has centered its business strategy on five frontiers: transitioning its lineup to electric vehicles, investing in autonomous driving technologies, expanding software-driven services like OnStar and Super Cruise, sustaining its North American market leadership, and meeting strict environmental regulations. The ability to balance core vehicle sales with major investments in electrification and technology, all while navigating tariffs, cost pressures, and global competition, is critical to its ongoing success in a rapidly changing industry.
Quarter Highlights: Financial and Operational Performance
During the quarter, General Motors delivered better-than-expected top- and bottom-line results, yet almost every major financial measure declined from a year ago. Its revenue (GAAP) surpassed forecasts by $1.28 billion, but revenue fell 1.8% compared to Q2 2024. Adjusted earnings per share (non-GAAP) came in $0.19 higher than estimates but adjusted diluted earnings per share were down 17.3% compared to Q2 2024. Adjusted earnings before interest and taxes (EBIT-adjusted) dropped 31.6%, and net income to shareholders fell 35.4 % year over year, reflecting lower profits and continued heavy investment.
The company’s North American business saw a sharp drop in profitability, with adjusted segment earnings down by almost half and the segment margin compressed to 6.1%, compared to 10.9% in Q2 2024. Wholesale vehicle volumes in North America were 849,000 units, though U.S. retail market share increased to 17.4%. International operations improved with positive equity income out of China—a turnaround from a loss last year—and international segment earnings more than doubled, though from a low base. However, sales volumes continued to slip in most regions outside North America.
General Motors remains heavily focused on its electric vehicle portfolio, including the Chevrolet Equinox EV (compact SUV), Cadillac Lyriq (luxury SUV), and Escalade IQ (full-size luxury SUV). Management reported progress toward cost reduction and increasing the number of EV models that are profitable on a variable-cost basis, but did not disclose specific EV sales figures for the quarter. The company is deliberately moderating EV production to align with consumer demand and avoid discounting, even if it means slower scale growth in the short term. One-time items included costs from realignment in the Ultium joint venture (battery cells), restructuring expenses in China, and continued integration of Cruise (autonomous vehicle subsidiary), collectively totaling $535 million.
The Super Cruise hands-free driving system—a driver-assistance technology available on many GM vehicles—doubled its installed base year over year in Q1 2025 and is expected to be in over 700,000 vehicles by year-end 2025. The OnStar safety and connectivity platform, available in 20 countries, continues its expansion but reported no separate revenue disclosure this period. Nevertheless, GM says these areas are important for future subscription-based revenues as vehicles become more connected and autonomous.
Cash outflows and margin pressure remain notable. Adjusted automotive free cash flow dropped 46.6%. Capital expenditures reached $2.1 billion. The company completed an accelerated share repurchase early in the year but paused any further buybacks given macroeconomic and policy uncertainty.
Looking Ahead: Guidance and Key Watch Areas
General Motors maintained its full-year 2025 outlook. Management reaffirmed guidance for adjusted EBIT of $10.0 billion to $12.5 billion for the year ending December 31, 2025, adjusted diluted earnings per share of $8.25 to $10.00, and adjusted automotive free cash flow of $7.5 billion to $10.0 billion. This outlook incorporates a major expected tariff headwind of $4 billion to $5 billion, with the assumption that about 30 % of these costs can be mitigated through internal cost actions, better supply chain management, and operational improvements. Capital spending for FY2025 remains projected at $10 billion to $11 billion.
For the remainder of the year, investors will want to monitor progress on North American margins, the pace of electric vehicle sales and profitability, software services uptake, and effects from tariffs or changes in trade and environmental policy. Management confirmed that no price increases are assumed in their outlook, and that buybacks are on pause until the business environment becomes clearer. General Motors continues to face structural margin pressure and softening cash generation, but remains focused on managing risks while pursuing its transition to electric and software-driven mobility.
Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.
Where to invest $1,000 right now
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 1,055%* — a market-crushing outperformance compared to 180% for the S&P 500.
They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor.
*Stock Advisor returns as of July 21, 2025
JesterAI is a Foolish AI, based on a variety of Large Language Models (LLMs) and proprietary Motley Fool systems. All articles published by JesterAI are reviewed by our editorial team, and The Motley Fool takes ultimate responsibility for the content of this article. JesterAI cannot own stocks and so it has no positions in any stocks mentioned. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

General Motors Q2 Revenue Down 1.8%

The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.06%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.40%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.50%. September E-mini S&P futures (ESU25) rose +0.01%, and September E-mini Nasdaq futures (NQU25) fell -0.52%.
Stock indexes settled mixed on Tuesday. On the positive side, D.R. Horton rallied more than +16% to lead home builders higher after reporting stronger-than-expected Q3 net sales and raising its full-year revenue forecast. Also, Northrop Grumman rose more than +9% after boosting its full-year adjusted EPS forecast. In addition, bond yields fell on Tuesday, supporting stocks after Treasury Secretary Bessent said, "He sees no reason for Fed Chair Powell to step down right now." The 10-year T-note yield fell -4 bp to a 1.5-week low of 4.34%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Positive trade comments from Treasury Secretary Bessent on Tuesday were supportive for stocks when he said, "trade is in a very good place with China," and he will meet his Chinese counterparts in Stockholm next week. He also said he believes the US "will likely extend" its trade truce with China past the August 12 deadline of the current truce.
Weighing on the Nasdaq 100 index Tuesday was weakness in semiconductor stocks. Also, Lockheed Martin dropped more than -10% after reporting weaker-than-expected Q2 net sales and cutting its full-year EPS estimate. In addition, General Motors fell more than -7% after forecasting full-year EBIT below analysts' estimates.
Tuesday's US economic news was bearish for stocks after the July Richmond Fed manufacturing index unexpectedly fell -12 to an 11-month low of -20, weaker than expectations of an increase to -2.
Recent trade news has put some downward pressure on stocks. Last Wednesday, President Trump announced that he intends to send a tariff letter to more than 150 countries, notifying them that their tariff rates could be 10% or 15%, effective August 1. Also, President Trump recently announced that the US will impose 30% tariffs on US imports from the European Union and Mexico, effective August 1. In addition, Mr. Trump said that a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%.
The markets this week will focus on any tariff news along with the announcement of any new trade deals. On Wednesday, June existing home sales are expected to fall -0.7% m/m to 4.00 million. On Thursday, weekly initial unemployment claims are expected to climb by +6,000 to 227,000. Also, the July S&P US manufacturing PMI is expected to slip -0.4 to 52.5. Finally, on Thursday, June new home sales are expected to climb +4.3% m/m to 650,000. On Friday, June capital goods new orders nondefense ex-aircraft and parts are expected to increase by +0.2% m/m.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 5% at the July 29-30 FOMC meeting and 58% at the following meeting on September 16-17.
The markets are awaiting a heavy slate of quarterly corporate earnings results this week, including Alphabet and Tesla on Wednesday. About one-fifth of the companies in the S&P 500 are expected to report their Q2 earnings results this week. Early results now show S&P 500 earnings are on track to rise +3.2% for the second quarter, better than the pre-season expectations of +2.8% y/y, according to Bloomberg Intelligence. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Overseas stock markets on Tuesday settled mixed. The Euro Stoxx 50 fell to a 2-week low and closed down -0.98%. China's Shanghai Composite climbed to a 9.5-month high and closed up +0.62%. Japan's Nikkei Stock 225 fell from a 3-week high and closed down -0.11%.
Interest Rates
September 10-year T-notes (ZNU25) Tuesday closed up +7 ticks. The 10-year T-note yield fell -4.0 bp to 4.338%. T-notes recovered from overnight losses and climbed to a 2.5-week high, and the 10-year T-note yield fell to a 1.5-week low of 4.326% on comments from Treasury Secretary Bessent, who said "he sees no reason for Fed Chair Powell to step down right now." T-notes extended their gains after the July Richmond Fed manufacturing index unexpectedly fell to an 11-month low. T-notes also garnered carryover support Tuesday from a rally in 10-year German bunds to a 2-week high.
European government bond yields on Tuesday moved lower. The 10-year German bund yield fell to a 2-week low of 2.585% and finished down -2.3 bp to 2.590%. The 10-year UK gilt yield fell -3.4 bp to 4.569%.
The ECB's quarterly Bank Lending Survey stated that "Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions, and while lenders saw a 'slight net increase' in loan demand in Q2, the uptake remained weak overall."
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at Thursday's policy meeting.
US Stock Movers
Weakness in chip stocks was a negative factor for the overall market on Tuesday, with KLA Corp (KLAC) closing down more than -4% to lead losers in the Nasdaq 100. Also, Lam Research (LRCX), ARM Holdings Plc (ARM), Micron Technology (MU), and Broadcom (AVGO) closed down more than +3%. In addition, Nvidia (NVDA) closed down more than -2% to lead losers in the Dow Jones Industrials, and Analog Devices (ADI) and Applied Materials (AMAT) closed down more than -2%.
D.R. Horton (DHI) surged more than +16% to lead homebuilders higher after reporting Q3 net sales of 23,071, better than the consensus of 22,017, and raising its full-year revenue forecast to $33.7 billion-$34.2 billion from a previous estimate of $33.3 billion-$34.8 billion, the midpoint above the consensus of $33.84 billion. Also, PulteGroup (PHM) closed up more than +11%, and Lennar (LEN) and Toll Brothers (TOL) closed up more than +8%.
IQVIA Holdings (IQV) closed up more than +17% to lead gainers in the S&P 500 after reporting Q2 revenue of $4.02 billion, above the consensus of $3.96 billion.
Northrop Grumman (NOC) closed up more than +9% after boosting its full-year adjusted EPS forecast to $25.00-$25.40 from a previous forecast of $24.95-$25.35, the midpoint above the consensus of $25.17.
Quest Diagnostics (DGX) closed up more than +7% after reporting Q2 adjusted EPS of $2.62, better than the consensus of $2.58, and raising its full-year adjusted EPS estimate to $9.63-$9.83 from a previous estimate of $9.55-$9.80.
Genuine Parts Co (GPC) closed up more than +7% after reporting Q2 net sales of $6.20 billion, better than the consensus of $6.11 billion.
PACCAR Inc. (PCAR) closed up more than +6% to lead gainers in the Nasdaq 100 after raising the lower end of its full-year capex estimate to $750 million-$800 million from a previous forecast of $700 million-$800 million.
United Natural Foods (UNFI) closed up more than +3% after Northcoast Research upgraded the stock to buy from neutral with a price target of $36.
Lockheed Martin (LMT) closed down more than -10% to lead losers in the S&P 500 after reporting Q2 net sales of $18.16 billion, weaker than the consensus of $18.53 billion, and cut its full-year EPS estimate to $21.70-$22.00 from a previous estimate of $27.00-$27.30.
General Motors (GM) closed down more than -8% after forecasting full-year adjusted EBIT of $10.00 billion to $11.37 billion, with the midpoint below the consensus of $11.37 billion.
Equifax (EFX) closed down more than -8% after forecasting Q3 adjusted EPS of $1.87-$1.97, below the consensus of $1.99.
Phillip Morris International (PM) closed down more than -8% after forecasting full-year organic revenue to climb +6% to +8%, weaker than the consensus of +8.29%.
Circle Internet Group (CRCL) closed down more than -8% after Compass Point Research & Trading LLC downgraded the stock to sell from neutral with a price target of $130.
MSCI Inc (MSCI) closed down more than -8% after reporting Q2 net new recurring subscription sales of $43.8 million, weaker than the consensus of $46.6 million.
Earnings Reports (7/23/2025)
Alphabet Inc (GOOGL), Amphenol Corp (APH), AT&T Inc (T), Boston Scientific Corp (BSX), Chipotle Mexican Grill Inc (CMG), CME Group Inc (CME), Crown Castle Inc (CCI), CSX Corp (CSX), Fiserv Inc (FI), Freeport-McMoRan Inc (FCX), GE Vernova Inc (GEV), General Dynamics Corp (GD), Globe Life Inc (GL), Hasbro Inc (HAS), Hilton Worldwide Holdings Inc (HLT), International Business Machine (IBM), Lamb Weston Holdings Inc (LW), Las Vegas Sands Corp (LVS), Lennox International Inc (LII), Molina Healthcare Inc (MOH), Moody's Corp (MCO), NextEra Energy Inc (NEE), Northern Trust Corp (NTRS), NVR Inc (NVR), O'Reilly Automotive Inc (ORLY), Otis Worldwide Corp (OTIS), Packaging Corp of America (PKG), Raymond James Financial Inc (RJF), Rollins Inc (ROL), ServiceNow Inc (NOW), TE Connectivity PLC (TEL), Teledyne Technologies Inc (TDY), Tesla Inc (TSLA), Thermo Fisher Scientific Inc (TMO), T-Mobile US Inc (TMUS), United Rentals Inc (URI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nasdaq Pressured by Chip Stocks, But Broad Market Supported by Lower T-note Yields

The S&P 500 Index ($SPX) (SPY) today is down -0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.47%. September E-mini S&P futures (ESU25) are down -0.14%, and September E-mini Nasdaq futures (NQU25) are down -0.52%.
Stock indexes today are moving lower on some disappointing quarterly earnings results. NXP Semiconductors is down more than -2% to lead chip makers lower and weigh on the overall market after issuing a Q3 revenue forecast that missed some bullish analysts' estimates. Also, General Motors is down more than -7% after forecasting full-year EBIT below analysts' estimates. In addition, Lockheed Martin is down more than -5% after reporting weaker-than-expected Q2 net sales and cutting its full-year EPS estimate.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today's US economic news was bearish for stocks after the July Richmond Fed manufacturing index unexpectedly fell -12 to an 11-month low of -20, weaker than expectations of an increase to -2.
On the positive side, D.R. Horton is up more than +12% to lead home builders higher after reporting stronger-than-expected Q3 net sales and raising its full-year revenue forecast. Also, Northrop Grumman is up more than +8% after boosting its full year adjusted EPS forecast. In addition, bond yields fell from overnight highs and moved lower after Treasury Secretary Bessent said, "He sees no reason for Fed Chair Powell to step down right now." The 10-year T-note yield is down -4 bp to a 1.5-week low of 4.34%
Positive trade comments today from Treasury Secretary Bessent were supportive for stocks when he said, "trade is in a very good place with China," and he will meet his Chinese counterparts in Stockholm next week. He also said he believes the US "will likely extend" its trade truce with China past the August 12 deadline of the current truce.
Recent trade news has put some downward pressure on stocks. Last Wednesday, President Trump announced that he intends to send a tariff letter to more than 150 countries, notifying them that their tariff rates could be 10% or 15%, effective August 1. Also, President Trump recently announced that the US will impose 30% tariffs on US imports from the European Union and Mexico, effective August 1. In addition, Mr. Trump said that a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%.
The markets this week will focus on any tariff news along with the announcement of any new trade deals. On Wednesday, June existing home sales are expected to fall -0.7% m/m to 4.00 million. On Thursday, weekly initial unemployment claims are expected to climb by +6,000 to 227,000. Also, the July S&P US manufacturing PMI is expected to slip -0.4 to 52.5. Finally, on Thursday, June new home sales are expected to climb +4.3% m/m to 650,000. On Friday, June capital goods new orders nondefense ex-aircraft and parts are expected to increase by +0.2% m/m.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 5% at the July 29-30 FOMC meeting and 58% at the following meeting on September 16-17.
The markets are awaiting a heavy slate of quarterly corporate earnings results this week, including Alphabet and Tesla on Wednesday. About one-fifth of the companies in the S&P 500 are expected to report their Q2 earnings results this week. Early results now show S&P 500 earnings are on track to rise +3.2% for the second quarter, better than the pre-season expectations of +2.8% y/y, according to Bloomberg Intelligence. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Overseas stock markets today are mixed. The Euro Stoxx 50 fell to a 2-week low and is down -0.90%. China's Shanghai Composite climbed to a 9.5-month high and closed up +0.62%. Japan's Nikkei Stock 225 fell from a 3-week high and closed down -0.11%.
Interest Rates
September 10-year T-notes (ZNU25) today are up +6 ticks. The 10-year T-note yield is down -4.1 bp to 4.337%. T-notes recovered from overnight losses and climbed to a 1.5-week high, and the 10-year T-note yield fell to a 1.5-week low of 4.336% on comments from Treasury Secretary Bessent, who said "he sees no reason for Fed Chair Powell to step down right now." T-notes extended their gains after the July Richmond Fed manufacturing index unexpectedly fell to an 11-month low. T-notes also garnered carryover support today from a rally in 10-year German bunds to a 2-week high.
European government bond yields today are moving lower. The 10-year German bund yield fell to a 2-week low of 2.588% and is down -2.4 bp to 2.589%. The 10-year UK gilt yield is down -3.5 bp to 4.568%.
The ECB's quarterly Bank Lending Survey stated that "Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions, and while lenders saw a 'slight net increase' in loan demand in Q2, the uptake remained weak overall."
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at Thursday's policy meeting.
US Stock Movers
Weakness in chip stocks is a negative factor for stocks today, with NXP Semiconductors NV (NXPI) down more than -2% after forecasting Q3 revenue of $3.05 billion to $3.25 billion, below the whisper number of $3.30 billion. Also, ARM Holdings Plc (ARM) is down more than -4% to lead losers in the Nasdaq 100, and Micron Technology (MU) is down more than +3%. In addition, Advanced Micro Devices (AMD), Nvidia (NVDA), Applied Materials (AMAT), Broadcom (AVGO), Lam Research (LRCX), and KLA Corp (KLAC) are down more than -2%.
General Motors (GM) is down more than -7% to lead losers in the S&P 500 after forecasting full-year adjusted EBIT of $10.00 billion to $11.37 billion, with the midpoint below the consensus of $11.37 billion.
Equifax (EFX) is down more than -7% after forecasting Q3 adjusted EPS of $1.87-$1.97, below the consensus of $1.99.
Lockheed Martin (LMT) is down more than -6% after reporting Q2 net sales of $18.16 billion, weaker than the consensus of $18.53 billion, and cut its full-year EPS estimate to $21.70-$22.00 from a previous estimate of $27.00-$27.30.
Phillip Morris International (PM) is down more than -6% after forecasting full-year organic revenue to climb +6% to +8%, weaker than the consensus of +8.29%.
Sherwin-Williams (SHW) is down more than -3% top lead losers in the Dow Jones Industrials after reporting Q2 adjusted EPS of $3.38, weaker than the consensus of $3.81, and cutting its full-year adjusted EPS estimate to $11.20-$11.50 from a previous estimate of $11.65-$12.05, below the consensus of $11.87.
RTX Corp (RTX) is down more than -2% after cutting its full-year adjusted EPS forecast to $5.80-$5.95 from a previous forecast of $6.00-$6.15, weaker than the consensus of $5.98.
D.R. Horton (DHI) is up more than +13% to lead homebuilders higher after reporting Q3 net sales of 23,071, better than the consensus of 22,017, and raising its full-year revenue forecast to $33.7 billion-$34.2 billion from a previous estimate of $33.3 billion-$34.8 billion, the midpoint above the consensus of $33.84 billion. Also, PulteGroup (PHM) is up more than +8%, Lennar (LEN) is up more than +7%, and Toll Brothers (TOL) is up more than +6%.
IQVIA Holdings (IQV) is up more than +16% to lead gainers in the S&P 500 after reporting Q2 revenue of $4.02 billion, above the consensus of $3.96 billion.
Northrop Grumman (NOC) is up more than +9% after boosting its full-year adjusted EPS forecast to $25.00-$25.40 from a previous forecast of $24.95-$25.35, the midpoint above the consensus of $25.17.
Quest Diagnostics (DGX) is up more than +5% after reporting Q2 adjusted EPS of $2.62, better than the consensus of $2,58, and raising its full-year adjusted EPS estimate to $9.63-$9.83 from a previous estimate of $9.55-$9.80.
PACCAR Inc. (PCAR) is up more than +3% to lead gainers in the Nasdaq 100 after raising the lower end of its full-year capex estimate to $750 million-$800 million from a previous forecast of $700 million-$800 million.
Calix (CALX) is up more than +1% after reporting Q2 adjusted EPS of 33 cents, better than the consensus of 21 cents, and forecasting Q3 adjusted EPS of 31 cents-37 cents, stronger than the consensus of 23 cents.
Earnings Reports (7/22/2025)
Avery Dennison Corp (AVY), Baker Hughes Co (BKR), Capital One Financial Corp (COF), Chubb Ltd (CB), Coca-Cola Co/The (KO), CoStar Group Inc (CSGP), Danaher Corp (DHR), DR Horton Inc (DHI), Enphase Energy Inc (ENPH), EQT Corp (EQT), Equifax Inc (EFX), General Motors Co (GM), Genuine Parts Co (GPC), Halliburton Co (HAL), Interpublic Group of Cos Inc/The (IPG), Intuitive Surgical Inc (ISRG), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KeyCorp (KEY), Lockheed Martin Corp (LMT), MSCI Inc (MSCI), Northrop Grumman Corp (NOC), PACCAR Inc (PCAR), Pentair PLC (PNR), Philip Morris International In (PM), PulteGroup Inc (PHM), Quest Diagnostics Inc (DGX), RTX Corp (RTX), Sherwin-Williams Co/The (SHW), Synchrony Financial (SYF), Texas Instruments Inc (TXN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Slip on Weakness in Chip Makers and Disappointing Earnings

The S&P 500 Index ($SPX) (SPY) today is down -0.14%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.36%. September E-mini S&P futures (ESU25) are down -0.17%, and September E-mini Nasdaq futures (NQU25) are down -0.37%.
Stock indexes today are moving lower on some disappointing quarterly earnings results. NXP Semiconductors is down more than -2% to lead chip makers lower and weigh on the overall market after issuing a Q3 revenue forecast that missed some bullish analysts’ estimates. Also, Lockheed Martin is down more than -7% after reporting weaker-than-expected Q2 net sales and cutting its full-year EPS estimate. In addition, Sherwin-Williams is down more than -2% after reporting Q2 adjusted EPS below the consensus, and cutting its full-year adjusted EPS estimate.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side, D.R. Horton is up more than +10% to lead homebuilders higher after reporting stronger-than-expected Q3 net sales and raising its full-year revenue forecast. Also, Northrop Grumman is up more than +9% after boosting its full-year adjusted EPS forecast. In addition, bond yields fell from overnight highs and were slightly lower after Treasury Secretary Bessent said, “He sees no reason for Fed Chair Powell to step down right now.” The 10-year T-note yield is down -1 bp to 4.36%
Recent trade news has put some downward pressure on stocks. Last Wednesday, President Trump announced that he intends to send a tariff letter to more than 150 countries, notifying them that their tariff rates could be 10% or 15%, effective August 1. Also, President Trump recently announced that the US will impose 30% tariffs on US imports from the European Union and Mexico, effective August 1. In addition, Mr. Trump said that a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%.
The markets this week will focus on any tariff news along with the announcement of any new trade deals. On Wednesday, June existing home sales are expected to fall -0.7% m/m to 4.00 million. On Thursday, weekly initial unemployment claims are expected to climb by +6,000 to 227,000. Also, the July S&P US manufacturing PMI is expected to slip -0.4 to 52.5. Finally, on Thursday, June new home sales are expected to climb +4.3% m/m to 650,000. On Friday, June capital goods new orders nondefense ex-aircraft and parts are expected to increase by +0.2% m/m.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 3% at the July 29-30 FOMC meeting and 58% at the following meeting on September 16-17.
The markets are awaiting a heavy slate of quarterly corporate earnings results this week, including Alphabet and Tesla on Wednesday. About one-fifth of the companies in the S&P 500 are expected to report their Q2 earnings results this week. Early results now show S&P 500 earnings are on track to rise +3.2% for the second quarter, better than the pre-season expectations of +2.8% y/y, according to Bloomberg Intelligence. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Overseas stock markets today are mixed. The Euro Stoxx 50 fell to a 2-week low and is down -0.64%. China’s Shanghai Composite climbed to a 9.5-month high and closed up +0.62%. Japan’s Nikkei Stock 225 fell from a 3-week high and closed down -0.11%.
Interest Rates
September 10-year T-notes (ZNU25) today are up +2 ticks. The 10-year T-note yield is down -1.4 bp to 4.364%. T-notes recovered from overnight losses and moved higher as short covering emerged on comments from Treasury Secretary Bessent, who said “he sees no reason for Fed Chair Powell to step down right now.” T-notes were under pressure due to concerns that President Trump would try to fire Powell, which could send bond yields sharply higher as investors question the Fed’s independence. T-notes also garnered carryover support today from a rally in 10-year German bunds to a 2-week high.
European government bond yields today are moving lower. The 10-year German bund yield fell to a 2-week low of 2.600% and is down -1.0 bp to 2.603%. The 10-year UK gilt yield is down -0.6 bp to 4.597%.
The ECB’s quarterly Bank Lending Survey stated that “Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions, and while lenders saw a 'slight net increase' in loan demand in Q2, the uptake remained weak overall.”
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at Thursday’s policy meeting.
US Stock Movers
Weakness in chip stocks is a negative factor for stocks today, with NXP Semiconductors NV (NXPI) down more than -2% after forecasting Q3 revenue of $3.05 billion to $3.25 billion, below the whisper number of $3.30 billion. Also, ARM Holdings Plc (ARM) and Advanced Micro Devices (AMD) are down more than -4%, and Nvidia (NVDA), Broadcom (AVGO), Lam Research (LRCX), and Micron Technology (MU) are down more than +3%. In addition, Marvell Technology (MRVL), Applied Materials (AMAT), and KLA Corp (KLAC) are down more than -2%.
Phillip Morris International (PM) is down more than -7% to lead losers in the S&P 500 after forecasting full-year organic revenue to climb +6% to +8%, weaker than the consensus of +8.29%.
Lockheed Martin (LMT) is down more than -7% after reporting Q2 net sales of $18.16 billion, weaker than the consensus of $18.53 billion, and cut its full-year EPS estimate to $21.70-$22.00 from a previous estimate of $27.00-$27.30.
Equifax (EFX) is down more than -7% after forecasting Q3 adjusted EPS of $1.87-$1.97, below the consensus of $1.99.
General Motors (GM) is down more than -6% after forecasting full-year adjusted EBIT of $10.00 billion to $11.37 billion, with the midpoint below the consensus of $11.37 billion.
RTX Corp (RTX) is down more than -3% after cutting its full-year adjusted EPS forecast to $5.80-$5.95 from a previous forecast of $6.00-$6.15, weaker than the consensus of $5.98.
Sherwin-Williams (SHW) is down more than -2% after reporting Q2 adjusted EPS of $3.38, weaker than the consensus of $3.81, and cutting its full-year adjusted EPS estimate to $11.20-$11.50 from a previous estimate of $11.65-$12.05, below the consensus of $11.87.
D.R. Horton (DHI) is up more than +10% to lead homebuilders higher after reporting Q3 net sales of 23,071, better than the consensus of 22,017, and raising its full-year revenue forecast to $33.7 billion-$34.2 billion from a previous estimate of $33.3 billion-$34.8 billion, the midpoint above the consensus of $33.84 billion. Also, PulteGroup (PHM) is up more than +7%, Lennar (LEN) is up more than +6%, and Toll Brothers (TOL) is up more than +4%.
IQVIA Holdings (IQV) is up more than +14% to lead gainers in the S&P 500 after reporting Q2 revenue of $4.02 billion, above the consensus of $3.96 billion.
Northrop Grumman (NOC) is up more than +9% after boosting its full-year adjusted EPS forecast to $25.00-$25.40 from a previous forecast of $24.95-$25.35, the midpoint above the consensus of $25.17.
PACCAR Inc. (PCAR) is up more than +4% to lead gainers in the Nasdaq 100 after raising the lower end of its full-year capex estimate to $750 million-$800 million from a previous forecast of $700 million-$800 million.
CSX Corp (CSX) is up more than +2% after Semafor reported that BNSF is working with Goldman Sachs to explore a takeover of a rival.
Calix (CALX) is up more than +1% after reporting Q2 adjusted EPS of 33 cents, better than the consensus of 21 cents, and forecasting Q3 adjusted EPS of 31 cents-37 cents, stronger than the consensus of 23 cents.
Earnings Reports (7/22/2025)
Avery Dennison Corp (AVY), Baker Hughes Co (BKR), Capital One Financial Corp (COF), Chubb Ltd (CB), Coca-Cola Co/The (KO), CoStar Group Inc (CSGP), Danaher Corp (DHR), DR Horton Inc (DHI), Enphase Energy Inc (ENPH), EQT Corp (EQT), Equifax Inc (EFX), General Motors Co (GM), Genuine Parts Co (GPC), Halliburton Co (HAL), Interpublic Group of Cos Inc/The (IPG), Intuitive Surgical Inc (ISRG), Invesco Ltd (IVZ), IQVIA Holdings Inc (IQV), KeyCorp (KEY), Lockheed Martin Corp (LMT), MSCI Inc (MSCI), Northrop Grumman Corp (NOC), PACCAR Inc (PCAR), Pentair PLC (PNR), Philip Morris International In (PM), PulteGroup Inc (PHM), Quest Diagnostics Inc (DGX), RTX Corp (RTX), Sherwin-Williams Co/The (SHW), Synchrony Financial (SYF), Texas Instruments Inc (TXN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

General Motors Company

Sign up and get access to the forecasts, "shares 360" and dividend history