Financial Summary: Friday, July 11, 2025

The S&P 500 and Nasdaq hit record highs, buoyed by strong earnings forecasts from Delta Air Lines and Nvidia, despite tariff concerns.

Bitcoin reached a new record high of $116,893, driven by institutional demand and positive market sentiment.

The Indian stock market saw a significant drop, with the BSE Sensex falling over 650 points due to losses in the IT and FMCG sectors.

U.S. stock markets opened lower following President Trump's announcement of new tariffs on Canada, raising trade policy concerns.

Crude oil prices strengthened, contributing to a rise in sugar prices as market dynamics shift.

Corn prices struggled to gain traction after a disappointing USDA report, impacting agricultural market sentiment.

Hindustan Unilever Ltd shares surged 4.5% following the appointment of Priya Nair as its first woman CEO.

Glenmark Pharmaceuticals shares hit a 52-week high after securing a $700 million licensing deal for its cancer drug ISB 2001 with AbbVie.

TCS reported a 6% YoY profit increase, but shares fell 2% due to revenue decline when adjusted for currency.

Adani Green Energy's operational capacity increased by 45% YoY to 15.8 GW in Q1 FY26, reflecting strong growth in renewable energy.

Nvidia's market value surpassed $4 trillion for the first time, solidifying its position as a leader in the tech industry.

Reliance Infrastructure's credit rating was upgraded by three notches to 'IND B/Stable/IND A4' due to its zero-debt status and improved financials.

Zee Entertainment's fundraising plan was rejected by shareholders, blocking a stake increase by the Goenka family.

Levi's CEO emphasized the company's resilience against tariff impacts on its international business.

Religare Enterprises' board has approved a Rs 1,500 crore fundraise, with the Burman family set to contribute Rs 750 crore to support business expansion.

BEML's board will meet on July 21 to consider a stock split, despite a recent 3.7% drop in stock price amid weak market sentiment.

Carvana's top shareholder has filed to sell $245 million in stock, raising concerns about the company's future performance.

Nvidia's CEO Jensen Huang sold over $36 million in stock, bringing his net worth in line with Warren Buffett's, highlighting the tech sector's financial dynamics.

US Foods is reportedly considering an acquisition of Performance Food, indicating potential consolidation in the food distribution sector.

Kraft Heinz is considering a potential break-up of its business, including spinning off its traditional grocery unit amid industry pressures.

Crypto billionaire Justin Sun has announced he is purchasing an additional $100 million in Trump's memecoin, increasing his total investment significantly.

Consumers are hurrying to buy electric vehicles as the $7,500 federal tax credit is set to expire on September 30.

Research indicates that delaying Social Security retirement benefits can boost payouts by about 77%.

Patrick Mahomes shares insights on his investment in Throne Sport Coffee and the upcoming 18-game NFL season.

The new 'Superman' film has generated $22.5 million in Thursday previews and is expected to earn up to $140 million this weekend.

A California woman seeks advice on managing her financially irresponsible boyfriend, highlighting financial responsibility in relationships.

A proposal suggests the IRS could help close the $118 billion employment-tax gap to bolster Social Security funding.

Tesla has applied to test its Robotaxis in Phoenix, marking a key advancement in its autonomous vehicle initiative.

Linda Yaccarino has resigned as CEO of X, with Elon Musk expressing gratitude for her leadership.

A study warns that by 2028, 25% of job candidates may be fake due to deepfake AI advancements.

A major tech company is experiencing significant stock declines, diverging from the overall market's record highs.

TikTok's lawsuit dismissal attempt regarding child exploitation has failed, while ByteDance receives another extension to divest its U.S. operations.

Elon Musk's xAI is seeking funding that could value the Grok chatbot at $200 billion, a significant increase from last year.

Concerns are rising over the unregulated content of the Grok chatbot, highlighting risks associated with rapid AI advancements.

The PGIM India Retirement Readiness Survey 2023 highlights the necessity of early, goal-oriented investing for effective retirement planning.

India plans to regulate healthcare costs through the IRDAI to improve access and affordability of medical services.

UK Chancellor Reeves has paused reforms to cash ISAs after public backlash over tax-free savings cuts.

A National Audit Office report highlights delays in the UK F-35 jet program, raising military readiness concerns.

President Trump has imposed a 35% tariff on Canadian imports, citing fentanyl concerns and potential retaliation.

The Trump administration faces backlash over a 50% tariff on Brazil, viewed as an overreach of emergency powers.

Travelers from Asia are increasingly avoiding the U.S. due to safety concerns and the impact of tariffs.

Japan is preparing for economic impacts from global demand fears linked to new tariffs, with potential interest rate pauses.

The European Commission proposes a new tax on large companies to boost the EU budget, targeting firms with high turnover.

The UK economy unexpectedly contracted by 0.1% in May, raising concerns over fiscal stability.

The Unite union is moving to suspend ties with Labour amid disputes over the Birmingham bin strikes, challenging the government.

A UK-France deal on migrant returns is set to last only a year, complicating the fate of rejected migrants.