And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Sonali Basak taking you through to that closing bell with a global simulcast. It started Carol Massar, Tim Stenovec back in the radio booth.Welcome to our audiences across all of our Bloomberg platforms, including our partnership with you to hear on Fed Day here on GDP, day here on Treasury refunding day here on earnings Day. Carl, who you got. Oh, my God.I need so much coming at us. I just want to say, in terms o ...

The S&P 500 will close out the year at a new record high. That's according to Wall Street's biggest bull. It's John Stalus of Oppenheimer.He's boosting his year-end target for the benchmark index to 7,100, citing progress on trade negotiations, removing lingering uncertainty for investors. Joining us now, the man behind that call, John Stalus, Oenheimer, chief market strategist. John, it's great to see you.Julie, great to be on the show. Always great to be working with you. Oh, I appreciate that.So, so tell ...

Market Outlook - The S&P 500 earnings are expected to show high single-digit growth, a deceleration from the previous quarter's double-digit growth [1] - NASDAQ is projected to have mid-teens growth [1] - The market's back half of the year is expected to perform similarly to the first half, though not as high as 24% [1] - The S&P 500 could potentially increase in the mid-teens [1] Economic Factors - Deregulation could potentially spur market growth in the back half of the year [1] - The Fed's current stance is viewed as neutral, with no immediate expectations of interest rate cuts despite some potential for future adjustments [1] - Inflation is at 25%-26%, which doesn't necessarily warrant rate cuts [1] Stock Picks - Rheinmetall, a German arms manufacturer, is expected to perform well due to increased European defense spending [1] - Axon Enterprises, known for tasers and body cameras, is a favorable pick, particularly due to demand from cities seeking to protect officers and mitigate lawsuits [2][3] - Spotify is a good choice because users are sticky and hard to switch, with average user growth of 12% per year [2][3][4]

Core Insights - WesBanco reported revenue of $260.73 million for the quarter ended June 2025, marking a 74.8% increase year-over-year [1] - The company's EPS was $0.91, up from $0.49 in the same quarter last year, exceeding the consensus estimate of $0.87 by 4.6% [1] Financial Performance - Revenue of $260.73 million surpassed the Zacks Consensus Estimate of $259.6 million, resulting in a surprise of +0.43% [1] - The efficiency ratio was reported at 55.5%, slightly above the estimated 55.2% [4] - Net interest margin was reported at 3.6%, matching the average estimate [4] - Mortgage banking income reached $2.36 million, exceeding the average estimate of $1.65 million [4] - Total non-interest income was $43.96 million, surpassing the average estimate of $41.5 million [4] Stock Performance - WesBanco shares returned +1.8% over the past month, underperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Market Overview - The S&P 500 and Nasdaq reached intra-day record highs but closed in the red, with the Dow down 204 points (-0.46%), S&P 500 down 18 points (-0.30%), Nasdaq down 80 points (-0.38%), and Russell 2000 down 13 points (-0.61%) [1] - Trade deals are progressing but lack the strength to drive the market higher, with Q2 earnings showing some weaknesses outside of Big Tech [2] Federal Reserve Policy - A new announcement on Fed policy is expected, with the current interest rate of 4.25-4.50% likely to remain unchanged for the fifth consecutive FOMC meeting [3] - Some analysts anticipate dissent among Fed members regarding the need for rate cuts despite current unemployment at +4.1% and inflation at +2.7% [3] Earnings Reports - **Starbucks (SBUX)**: Reported Q3 earnings of $0.50 per share, missing the consensus of $0.65, attributed to a one-time charge of $0.11. Revenues were $9.50 billion, exceeding expectations of $9.30 billion. Same-store sales fell -2% compared to a -1.3% consensus [4][5] - **Visa (V)**: Reported earnings of $2.98 per share, beating expectations of $2.86, with revenues of $10.2 billion surpassing the $9.87 billion forecast. Despite strong performance, shares fell -3% in after-hours trading [6] - **Booking Holdings (BKNG)**: Reported Q2 earnings of $55.40 per share, exceeding the $50.59 estimate, with revenues of $6.8 billion above the $6.56 billion consensus. Gross bookings reached $46.7 billion [7] - **Mondelez (MDLZ)**: Reported earnings of $0.73 per share, beating estimates by $0.05, with revenues of $8.98 billion exceeding the $8.88 billion expectation. The company faced challenges from rising cocoa prices and tariffs [8] Upcoming Market Events - The earnings season is expected to peak with reports from major companies like Microsoft and Meta Platforms, along with others such as Ford and Qualcomm [9] - Private-sector payroll data from ADP is anticipated, with a consensus of +64K jobs for July, following a previous decline of -33K [10] - Q2 GDP is projected to rebound to +2.3% from Q1's -0.5%, influenced by tariff policies and economic outlook improvements [10]

Market Overview & Trends - Gold prices have broken out to new all-time highs, holding over $3,000 per ounce for the entire second quarter and into the third quarter, leading to tremendous earnings for gold miners [3] - The industry is experiencing a bull market on all metals, both precious and otherwise [24] - Newmont, one of the largest gold miners, reported record earnings and free cash flow, subsequently raising its share buyback plan and paying off debt, indicating favorable market conditions for gold miners [4] Company Performance & Strategies - Agnico Eagle Mines (Agneo), Kinross, and AngloGold Ashanti are highlighted as Zacks number one ranked gold miners, with charts showing an "up and to the right" trend, reflecting strong earnings performance [2][9][18] - Many gold miners are considering expanding share buybacks or paying special dividends due to the high gold prices, rather than significantly raising regular dividends, as they are uncertain about the sustainability of prices above $3,000 [8] - Some gold miners are pursuing acquisitions of smaller miners instead of developing their own mines, due to the cash-intensive and risky nature of mine development [20][21] Individual Company Analysis - Agnico Eagle Mines (Agneo) shows an 89% earnings growth in 2024 and an expected 57% in 2025 [5] - Kinross shows 94% earnings growth this year [10] - Alamos Gold (AGI) is a smaller market cap company with a number three rank, showing 66% earnings growth this year and analysts are more bullish on next year with 33% growth [11][14] - El Dorado Gold, a smaller gold miner with operations in Quebec, Greece, and Turkey, is expected to have 63% earnings growth in 2026 [14][17] - Anglo Gold Ashanti is expected to have earnings up 125% this year [19] Investment Considerations - Analysts are trying to catch up with the dramatic earnings growth, resulting in cheap forward P/E ratios for some gold mining stocks even at their highs [10] - The GDX is mentioned as an ETF option for investing in gold miners [11] - Investors should watch free cash flows and how companies are utilizing their cash [7]

And one more thing to watch tomorrow is the latest Fed decision. Joining us now to look ahead to the Fed and earnings is Brooke May from Evans May Wealth. Brooke, uh, stocks aren't moving right now in overtime, even on relatively positive earnings.Visa, which I know you own, as a key example, but we've got some mega caps reporting this week. We got the Fed, we got a jobs report. What's going to matter most.>> All of it. Uh you know there's definitely a culmination of data this week and you've got to keep an ...

Core Insights - Universal Health Services Inc. reported second-quarter adjusted earnings of $5.35 per share, exceeding the consensus estimate of $4.92 [1] - The company generated sales of $4.28 billion, reflecting a year-over-year increase of 9.6%, surpassing the consensus estimate of $4.24 billion [1] Acute Care Hospitals - Adjusted admissions at acute care hospitals increased by 2.0%, while adjusted patient days rose by 1.1% year over year [2] - Net revenue per adjusted admission increased by 3.8%, and net revenue per adjusted patient day increased by 4.7% [2] - Net revenues from acute care services increased by 7.9% on a same facility basis [3] Behavioral Health Care Facilities - Adjusted admissions at behavioral health care facilities increased by 0.4%, and adjusted patient days increased by 1.2% [4] - Net revenue per adjusted admission rose by 8.6%, while net revenue per adjusted patient day increased by 7.8% [4] - Net revenues from behavioral health care services increased by 8.9% on a same facility basis [4] Company Operations - Universal Health operates 29 inpatient acute care hospitals and 338 inpatient behavioral health facilities, along with 61 outpatient facilities [5] Guidance - The company raised its fiscal year 2025 adjusted earnings guidance to $20.00-$21.00 per share, compared to the previous range of $18.45-$19.95 [6] - Sales guidance for 2025 was narrowed to $17.09 billion-$17.31 billion, against the previous range of $17.02 billion-$17.36 billion [6] - The forecasted adjusted EBITDA for 2025 was revised to approximately $2.46 billion-$2.543 billion, up from the prior range of $2.36 billion-$2.48 billion [6] Analyst Insights - Guggenheim Partners noted that adjusted EBITDA-NCI of $643 million exceeded the consensus estimate of $615 million, but core performance was weaker than expected due to adjustments [7] - Analyst Jason Cassorla indicated that higher 2025 EBITDA could lead to increased share repurchase, with a leverage ratio of 1.9x providing flexibility for returns [8] - Despite a recent ~15% drop in stock price, UHS is trading at historically low valuation levels, with cautious investor sentiment regarding future growth in the behavioral health segment [9]

Market Trends & Trade Developments - Trade developments are being taken in stride by the markets, with a focus shifting towards earnings, the Federal Reserve, and jobs reports [2][1] - Uncertainty remains a key characteristic of the market, but trade deals are progressing, earnings are strong, and consumer spending is holding up [3] - Overall earnings are broadening out, which is healthy for the marketplace [7] Investment Strategy & Opportunities - Investors need a strategy in an uncertain market [2][3] - Strategy should involve keeping cash and locking in higher rates before the Federal Reserve potentially lowers interest rates in the latter half of the year [4] - Healthcare sector has been lagging year-to-date, potentially representing a value play [6] - AMD is highlighted as a pick due to its upside potential in the AI trade [7][8] Company Performance & Analysis - UnitedHealth Group (UNH) reported earnings of $48 per share, which was $0.40 below estimates, with revenue slightly ahead of estimates at $1116 billion (111.6 * 10^9) [5] - Despite missing on EPS, UNH stock is moving higher, possibly indicating a bottoming in the healthcare sector [5][6] - AMD increased the pricing of its MI350 chip (rival to Nvidia's Blackwell) by 67%, from $15000 to $25000, indicating strength in the AI space [8][9]

Currency Market Analysis - Euro weakness is observed, reversing gains after reaching a three-year high, influenced by dollar weakness and anticipation of a trade deal [1][2] - The pound initially experienced a relief rally following the UK trade deal announcement but later faced concerns about increased costs [4] - The pound fell below $1.34, considered low despite a recent high of $1.38, but it was the best-performing G10 currency yesterday [9] Trade Deal Impact - The trade deal is perceived as more expensive for companies than before, with a 15% cost increase exceeding the previously expected 1% [3] - Market reaction to trade deals may be overdone, with uncertainty about whether they are ultimately beneficial for Europe or detrimental to the US [4][5] Economic Data and Central Bank Meetings - Key central bank meetings, including the Fed, are anticipated as potential catalysts to shift the current narrative [6] - Crucial US data, including inflation and jobs reports, will be important for assessing the US economy's performance and the impact of tariffs [7] - EU GDP data and the Bank of England decision next week are being priced into the pound, influencing the euro [8] Earnings and Equity Market - Strong earnings results are observed from banks like Barclays, indicating a bullish outlook on the equity side [11] - Big tech earnings this week will be crucial for assessing the equity story and the vulnerability of the S&P rally [12] - Value stocks, particularly the Footsie 100, are outperforming the Stoxx 600 and the S&P in terms of year-to-date returns [12]