Wall Street in the red: Trump brings crypto revolution and tariffs into play!

Wall Street in the red: Trump brings crypto revolution and tariffs into play!

On Friday, July 18, 2025, Wall Street posted slight losses as focus turned to several crucial themes. The customs dispute between US President Donald Trump and the EU is increasingly keeping the markets busy. Trump recently signed new crypto laws, which are generating a lot of interest given current developments in the crypto market.

Earnings season continues, with quarterly numbers from American Express and 3M taking center stage. As investors look forward to the numbers, a consumer survey from the University of Michigan shows a 1.8 percent increase in consumer sentiment to 61.8, the highest since February. At the same time, fears of tariff-triggered inflation fell to their lowest level since February.

Market developments and company news

The Dow Jones closed Friday down 0.3 percent, while the S&P 500 fell 0.01 percent. The Nasdaq 100 fell 0.07 percent. Despite an earnings surprise, Netflix's share price fell five percent. 3M fell about four percent, despite better-than-expected results. American Express weighed on the Dow with a loss of two percent.

So far in the reporting season, 83 percent of reporting S&P 500 companies have exceeded expectations. Companies such as PepsiCo and United Airlines performed positively, increasing significantly after strong results. The major banks JPMorgan and Goldman Sachs have also shown positive developments.

Another highlight is interest in CRISPR shares following an insider purchase, while crypto stocks are coming to the fore due to Trump's new laws.

Looking at the challenges ahead

The next few days bring fourth-quarter reporting season, with industry leaders like JPMorgan, Citigroup and BlackRock reporting their numbers. On Monday, the S&P 500 will go through an important period of correction after reaching a record high of almost 6,100 points in early December.

Analysts expect fourth-quarter earnings growth for S&P 500 companies to be 7.3 percent year-over-year, with EPS estimates for the next 12 months for earnings per share growth of 23 percent. However, earnings growth outside of the big tech companies is being closely watched, with non-tech companies expecting growth of four percent in the third quarter. The large technology companies, also known as the “Magnificent Seven”, are expecting profit growth of 22 percent.

Investors are facing an uncertain market situation, characterized by rising bond yields, which have risen to around five percent and could potentially have a negative impact on the stock market. The S&P 500's fourth-quarter operating margin is expected to be close to 16 percent, while challenges for European companies from slow economic growth and U.S. tariffs remain.

In summary, developments on Wall Street show that investors are confronted with uncertainties surrounding global trade as well as upcoming company figures. A clear direction for the markets remains to be seen.

For more information on current developments on Wall Street, please visit The shareholder and financial market world.