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Welcome to Vested Shorts,
Tariff Tempers, Tech Teases, and a Touch of Netflix Drama
It was a mixed week on Wall Street.
The Dow Jones slipped 0.01% on Friday to close at 44,342.19, ending the week marginally lower. The S&P 500 rose 0.67% to 6,296.79, while the Nasdaq surged 1.47% to 20,895.66, its third straight weekly gain. Bitcoin, meanwhile, dipped 1.27% to $118,321, cooling off after a sharp rally.
The drag? A Trump tariff googly. The former president is demanding a minimum 15 to 20% tariff in any trade deal with the EU and has set an August 1 deadline, after which a 30% blanket tariff kicks in. That threat rattled equities late Friday.
But it wasn’t all bad news. The University of Michigan’s Consumer Sentiment Index rose to 61.8 in July, its highest level since February. That’s a sign that Americans are feeling better about their finances, job prospects, and inflation outlook, which often translates into higher spending and economic growth.
Earnings were mixed: Netflix fell 5% after margin warnings despite a solid second quarter, 3M revised its sales forecast downward, and AmEx dragged the Dow.
Still, the season is off to a strong start: 83% of S&P 500 companies that reported so far have beaten expectations, including beats from JPMorgan, Goldman Sachs, PepsiCo, and United Airlines.
The Magnificent Seven are next. Alphabet and Tesla kick off tech earnings this week, with the group expected to post 14% growth vs. just 3.4% for the rest of the index.
For now, it’s a risk-on rally… but all eyes are on tariffs, tech, and the Fed.
Stock market closing data for the week of July 14th to July 18th, 2025
News Summaries
Nvidia Adds $1.9T Since April, But Is the AI Rally Running Too Hot?
Nvidia’s stock has soared 83 per cent since April, adding nearly $1.9 trillion in market value. It is now the most valuable company in the world, crossing a market cap of $4.2 trillion, ahead of Microsoft.
But some signs suggest the rally may be running too fast.
Traders are turning cautious as Nvidia’s stock has risen sharply for eight straight weeks, a pace that has previously led to short-term drops. Market experts say investor excitement is nearing extreme levels, even if no reversal is guaranteed yet.
The latest jump came after the US government allowed Nvidia to resume AI chip sales to China, which could bring back billions in revenue that were earlier at risk.
Meanwhile, big customers like Meta and Microsoft are spending heavily on AI and data centers. Meta alone plans to spend “hundreds of billions,” while Trump announced $92 billion in AI and energy investments.
Some investors are booking profits, worried about how long this AI boom will last. But most analysts remain bullish. Nvidia’s results in August will be key, especially after Big Tech earnings roll in later this month.
For now, the hype around AI is still doing all the heavy lifting.
OpenAI’s ChatGPT Agent Can Now Shop, Draft, and Click for You
OpenAI has launched a new “ChatGPT agent” that can complete complex, multistep tasks such as shopping online, researching in-depth topics, or drafting presentation slides.
The rollout is part of OpenAI’s push to bring AI agents into daily life and will be available to Pro, Plus, and Team subscribers immediately, with enterprise and education versions planned for later this year.
The ChatGPT agent combines earlier tools like Operator, which can browse and click like a human, and Deep Research, designed for time-intensive searches. The agent can use a browser to find products, compare prices, create shopping carts, and generate content based on real-time feedback although some tasks may take several minutes to complete.
The company demonstrated the tool by asking it to search Etsy for vintage lamps and generate a shortlist with purchase links. Other use cases include early drafts of presentations or summarising long research. However, the agent will not perform sensitive tasks like financial decisions or legal work without oversight and explicit user approval.
OpenAI admits the agent is still evolving but views it as a major step toward AI that acts more like a human assistant with productivity gains in clear sight.
Netflix Rides Dollar Crash, Squid Game Hype to Lift 2025 Forecast
Netflix has raised its revenue forecast for the rest of 2025, crediting a weaker US dollar and strong momentum from new subscribers and ad sales.
The upbeat outlook follows a solid second quarter, with net income up 45 per cent year-on-year to $3.1 billion and revenue hitting $11 billion.
The company attributed the higher forecast to currency tailwinds and the breakout success of new content including Squid Game: Season 3, the hit drama Adolescence, and live sports events.
A falling dollar, the worst first-half drop in 50 years has amplified Netflix’s international earnings in dollar terms.
Shares are up 42 per cent this year, boosted by Netflix’s aggressive live content strategy. The streamer now airs WWE Raw, NFL games, and boxing matches. Co-CEO Ted Sarandos said these “ownable, breakthrough events” are helping retain users.
Sarandos also hinted at possible deals with YouTube creators and said the company will stay selective with big-ticket sports rights. With Stranger Things finale, Happy Gilmore 2, and Wednesday Season 2 on the slate, Netflix expects subscriber growth to stay strong even as it stops reporting those numbers.
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From the World of Crypto
BlackRock’s Crypto Bet Just Hit $14 Billion And It Is Just Getting Started
BlackRock saw a massive surge in cryptocurrency inflows in Q2 2025, pulling in $14 billion through its iShares crypto ETFs, a 366 per cent jump from the previous quarter.
Crypto now makes up 16.5 per cent of BlackRock’s total ETF inflows, up from under 3 per cent just a quarter ago.
This growth came even as overall firm-wide inflows dropped to $68 billion, down 19 per cent from Q1, mainly due to a single client withdrawing $52 billion from a low-fee index fund.
Despite that, CEO Larry Fink said the firm is drawing a “new global generation of investors”, with strong traction in digital assets and new funds launched in India via its Jio BlackRock JV.
Crypto’s direct revenue impact remains small at just 1 per cent of base fees, or $40 million this quarter but that is up 18 per cent from Q1. The message is clear: it is growing fast and could become a much bigger contributor soon.
BlackRock’s success mirrors broader market momentum. Bitcoin gained 25 per cent in Q2, and crypto funds have seen one of the longest inflow streaks on record. Investors are clearly buying the narrative and the ETFs.
Key headlines of the week
India’s Markets Dip While Mutual Funds Go All-In | Indian equities are on track for their third straight weekly loss amid high valuations. Meanwhile, mutual funds are deploying cash rapidly, especially into IPOs at levels last seen during the pandemic.
Perplexity Raises at $18B Valuation | AI search startup Perplexity has raised $100 million, bringing its valuation back to $18 billion. The company has tripled its valuation multiple times since 2023 and continues to emerge as a serious Google rival.
Meta Snaps Up Apple’s AI Talent | Meta has hired Apple researchers Mark Lee and Tom Gunter for its Superintelligence Labs. The move underscores Meta’s aggressive push to build the strongest AI research team in the tech industry.
Lovable Becomes Europe’s Newest AI Unicorn | Swedish no-code app builder Lovable raised $200 million in Series A funding at a $1.8 billion valuation. Its AI-led “vibe coding” approach is gaining rapid investor and customer traction.
