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Stock Market Live July 30: Upside GDP Surprise Pushes S&P 500 (VOO) Higher

By Joel South · Updated Jul 30, 4:13pm ET · Published Jul 30, 9:33am ET

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Wednesday Wrap-up

The Vanguard S&P 500 ETF closed Wednesday at 583.12, down 0.1%.

25% Tariffs on India

In a return of tariffs news to the headlines, President Trump just announced that tariffs on imports from India will rise to 25% beginning tomorrow, August 1. Additional tariffs sanctioning India for its role purchasing sanctioned oil from Russia may be imposed on top of the 25% base tariff rate.

Stock markets either like the move, or have not yet had time to react to it. The Voo is now up 0.2%.

Investors Sweet on Hershey Despite Guidance

S&P component company Hershey Foods (NYSE: HSY) reported a $1.21 per share Q2 profit that was $0.22 better than expected. Revenue topped expectations, too: $2.6 billion. However, Hershey cut its forecast for the rest of this year — the opposite of what you’d expect with Q2 earnings being so much stronger than expected.

Hershey now says full year profits will be no more than $6 a share, and could be as little as $5.81. Investors don’t mind, though; the stock is up 2.5%.

Trane Derailed by Earnings Miss

The earnings just keep rolling in. S&P 500 component company and HVAC equipment giant Trane Technologies (NYSE: TT) reported a $3.88 per share profit this morning, nine cents better than expected. Revenues fell slightly below forecast, at $5.75 billion, but Trane said its profits this year will be $13.05 per share, nine cents better than the $12.96 expected.

Curiously, investors seem focused on the tiny revenue miss, and are selling off Trane stock more than 7% in the market’s opening minutes. The Voo, however, is still up 0.1%.

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The story so far

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

The U.S. economy grew at a faster-than-expected 3% in Q2 2025, according to a U.S. Commerce Department report released this morning, pushing the Vanguard S&P 500 ETF (NYSEMKT: VOO) up about 0.1% in premarket trading.

3% growth in gross domestic product (GDP) is nearly a third better than the 2.3% growth rate economists had been expecting. It reverses the trend of 0.5% GDP contraction seen in Q1 as well. In other details, the report noted that consumer spending grew three times better than the expected 0.5% in Q2 (1.4%, to be precise). U.S. exports declined by 1.8%, and imports declined by 30.3% — yet the economy grew anyway, apparently entirely through domestic consumption.

Last but not least, the report showed the personal consumption expenditures price index (the Fed’s preferred inflation metric) at 2.1% in Q2, just a hair above the Fed’s 2% inflation target. It almost sounds like “mission accomplished” — so no wonder investors are happy.

Earnings

S&P 500 component company Illinois Tool Works (NYSE: ITW | ITW Price Prediction) reported Q2 profit of $2.58 per share this morning, two cents better than expected. Revenue also beat expectations at $4.1 billion, and Illinois Tool raised guidance for full year earnings to somewhere between $10.35 and $10.55 per share.

Fellow S&P 500 component Kraft Heinz (Nasdaq: KHC) earned $0.69 per share in Q2, a nickel better than expected. Revenue edged past expectations at $6.35 billion. Guidance for the rest of the year was right in line with expectations for $2.59 per share.

Yet another component, GE Healthcare (Nasdaq: GEHC) said it earned $1.06 per share on $5 billion in revenue. Guidance for the year was especially strong, with GE Healthcare forecasting profits of $4.43 to $4.63 per share, well ahead of the $4.07 forecast.

On the other hand, Harley-Davidson (NYSE: HOG), which is no longer big enough to qualify for the S&P 500, reported $0.88 per share, eight cents less than expected. The motorcycle maker’s revenue, however, was $1.3 billion, well ahead of expectations — and Harley stock is up more than 14% pre-market.

 

 

 

Contact [email protected] for any questions or corrections.

Joel South

Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.

He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.

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