Stock Market Live July 29: S&P 500 (VOO) Moves Higher on Multiple Earnings Beats Tuesday

This article will be updated throughout the day, so check back often for more daily updates.

The Vanguard S&P 500 ETF (NYSEMKT: VOO) just missed rising last night, while the index the ETF attempts (mostly successfully) to track ended with only the tiniest of gains. It was a surprising result, almost no movement in the stock market in response to arguably one of the biggest trade deals, between the U.S. and European Union, having been concluded just the day before.

But… well, no one ever promised us the stock market would make sense. What would make more sense would be if we see some significant movement today, as the stock market gets moving on its busiest week of earnings season.

So far, about 170 S&P 500 companies have reported their Q2 results. Another 150 or so are expected to report this week. This will mark the halfway point for earnings season, with more companies having reported, than remain waiting in line to report their news.

In pre-market trading, the Voo is up 0.2%.

Earnings

Already this morning, we’ve heard from the following S&P 500 component companies:

PayPal (Nasdaq: PYPL) reported a $1.40 per share Q2 profit, a dime better than expected. Quarterly revenue of $8.3 billion likewise edged out estimates.

Guidance for Q3 is about a penny below for $1.21 per share forecast, but thanks to the Q2 “beat,” guidance for the full year is now comfortably above consensus — anywhere from $5.15 per share to $5.30.

Corning (NYSE: GLW) earned $0.60 in Q2, three cents better than forecast. Revenue was better than $4 billion, versus the less than $3.9 billion that was expected.

Merck (NYSE: MRK) beat earnings by a dime, reporting $2.13 per share in Q2 profit. Merck then added the dime to its forecast for the year, and now expects to earn between $8.87 and $8.97 per share, versus the $8.87 that Wall Street forecast.

Procter & Gamble (NYSE: PG) just wrapped up its fiscal 2025 with a “Q4” report of $1.48 per share in profit, six cents better than forecast. Revenue was just ahead of consensus at $20.9 billion.

Boeing (NYSE: BA) also beat “earnings” — if you can call them that. The aerospace giant lost $1.24 per share in Q2, which sounds like bad news. However, analysts expected a $1.40 per share loss, so Boeing’s report was at least less-bad than feared. Revenue also outstripped the forecast, coming in at $22.75 billion.

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