Tech Stocks Eye Record Highs As Magnificent Seven Top $19.5 Trillion: What's Moving Markets Friday?

Author: Piero Cingari | August 08, 2025 12:25pm

Tech stocks staged a full rebound from last Friday's sell-off, with the Nasdaq 100 surging to 23,600 — just shy of the 23,700 all-time high set in late July, as the week’s strong sector earnings and broad gains among the Magnificent Seven fueled the rally.

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Apple Inc. (NASDAQ:AAPL) climbed 3.5% by midday in New York, extending weekly gains to over 12% and setting up its strongest week since August 2020.

The Magnificent Seven's combined market capitalization hit $19.5 trillion, matching last month's peak. NVIDIA Corp. (NASDAQ:NVDA) is once again testing record highs.

On the trade front, President Donald Trump unveiled a surprise import tariff on gold bars, a move expected to pressure Switzerland's refining industry. The price spread between New York gold futures and spot prices spiked to a record $90 per ounce. Bullion edged up 0.1% to $3,400 per ounce.

Geopolitically, reports suggest the U.S. and Russia are exploring a potential Ukraine ceasefire deal that would formalize some of Moscow's territorial gains, ahead of a possible Trump-Putin summit next week.

In commodities, oil briefly slipped below $64 a barrel before trimming losses, positioning to end a six-session losing streak.

Bitcoin (CRYPTO: BTC) fell 1.2% to $116,000.

Friday’s Performance In Major U.S. Indices, ETFs

Major Indices	Price	1-day chg. %
Nasdaq 100	23,590.19	0.9%
S&P 500	6,388.47	0.8%
Dow Jones	44,184.34	0.5%
Russell 2000	2,220.90	0.3%

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.7% to $585.50.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $441.85.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 0.8% to $573.89.
• The iShares Russell 2000 ETF (NYSE:IWM) edged 0.4% higher to $220.72.
• The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 0.9%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.2%.

Friday’s Stock Movers

Stocks reacting to earnings reports included:

• Gilead Sciences, Inc. (NASDAQ:GILD) up 8.8%
• Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) down 6.4%
• Motorola Solutions, Inc. (NYSE:MSI) up 2.1%
• Monster Beverage Corporation (NASDAQ:MNST) up 6.3%
• Flutter Entertainment plc (NYSE:FLUT) down 7.4%
• Block, Inc. (NYSE:XYZ) down 2.7%
• Take-Two Interactive Software, Inc. (NASDAQ:TTWO) down 3.7%
• Consolidated Edison, Inc. (NYSE:ED) down 0.4%
• Live Nation Entertainment, Inc. (NYSE:LYV) up 2.4%
• Microchip Technology Incorporated (NASDAQ:MCHP) down 5.7%
• The Trade Desk, Inc. (NASDAQ:TTD) down 37.6%
• Expedia Group, Inc. (NASDAQ:EXPE) up 3%
• Pinterest, Inc. (NYSE:PINS) down 8.5%
• Natera, Inc. (NASDAQ:NTRA) up 10.8%
• Maplebear Inc. (NASDAQ:CART) up 5.9%
• Wynn Resorts, Limited (NASDAQ:WYNN) down 2.0%
• Akamai Technologies, Inc. (NASDAQ:AKAM) down 3.4%

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Photo: Shutterstock

Posted In: $BTC AAPL AKAM CART DIA ED EXPE FLUT GILD IWM LYV MCHP MNST MSI NTRA NVDA PBR PINS QQQ TTD