Finance

With the second-quarter earnings season entering its final stretch, roughly 85% of S&P 500 companies have surpassed market expectations. Aggregate corporate earnings are pacing toward a 47% year-over-year increase, representing the highest growth rate seen since mid-2021. Profit margins for the index also reached an unprecedented peak of 16.7%, driven substantially by massive earnings expansions in big tech.

Bitcoin and Ethereum recorded steady trading performances, with Bitcoin hovering around $65,000 and Ethereum maintaining levels near $1,910. Digital assets mirrored traditional equity markets by responding positively to the July jobs report miss. While geopolitical friction in the Middle East has kept traders somewhat cautious, the cooling expectations for monetary policy tightening provided a net benefit to risk-on assets.

The yield on the benchmark 10-year U.S. Treasury note pulled back slightly to end around 4.64% to 4.65% following the latest batch of economic data. Yields had previously reached their highest levels since early 2025 due to persistent energy-driven inflation and hawkish factional dissents within the Federal Reserve. The recent soft employment figures effectively calmed aggressive short-term rate hike projections, leading to lower bond yields and easing broad financial conditions.