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The start of a busy week for Corporate America saw stocks giving up most of their gains, with traders looking for signs of resilience in earnings amid tariff risks. Treasury yields fell alongside the dollar.

While the S&P 500 closed above 6,300 for the first time, the equity benchmark rose just 0.1%. Energy shares joined a decline in oil amid lingering worries about crude demand. A gauge of the “Magnificent Seven” megacaps outperformed, with Tesla Inc. and Google parent Alphabet Inc. due to report results this week. The stakes will again be high as traders look for updates on artificial-intelligence spending. Nvidia Corp. fell.

Gains in Treasuries were led by longer maturities, with the 30-year yield slipping four basis points to 4.95%. The greenback dropped against all of its developed-world peers. The yen climbed as Japan’s Prime Minister Shigeru Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the upper house election.

Investors will also keep a close eye on tariff headlines. President Donald Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added.

Today's show features:

Alan Zafran, Co-Founder and Managing Partner of IEQ Capital on return of the bull market
Bloomberg Businessweek Senior Reporter Max Chafkin on his Bloomberg Big Take, co-written with Ed Ludlow: Elon Musk’s Empire Is Creaking Under the Strain of His Antics
Dr. Rebecca Homkes, Lecturer at the London Business School on business planning amid geopolitical uncertainty
Bloomberg News Telecom Reporter Kelcee Griffis on Verizon’s earnings beat and boosted profit outlook

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Stock Rally Wanes, But S&P 500 Closes Above 6,300

Bloomberg Businessweek

Stock Rally Wanes, But S&P 500 Closes Above 6,300