Key Takeaways
- The S&P 500 fell 0.1% on Wednesday, July 30, 2025, as the Fed held interest rates steady and policymakers expressed concerns about possible tariff impacts.
- Improving gross margins helped drive a strong quarter for Generac Holdings, and shares of the backup power generator manufacturer surged.
- IDEX shares sank after the industrial products manufacturer issued a lackluster outlook for the current quarter and full year, citing soft demand amid macroeconomic uncertainty.
Major U.S. equity indexes were mixed on Wednesday as the Federal Open Market Committee left interest rates unchanged and the White House released more trade updates, including the announcement of a 50% tariff on imported copper.
The S&P 500 slipped 0.1% in the mid-week session, and the Dow Jones Industrial Average fell 0.4%. The tech-heavy Nasdaq Composite eked out a 0.2% gain.
Generac Holdings (GNRC), a manufacturer of backup power generators, surpassed analysts' forecasts with its second-quarter results. Sales increased year-over-year in Generac's residential segment, as well as its commercial and industrial business. Gross margin also improved from a year ago, which the company attributed to strong pricing and reduced input costs. Shares of Generac powered 19.6% higher, notching the S&P 500's top performance on Wednesday.
Teradyne (TER) shares skyrocketed 18.9% after the provider of automatic test equipment beat quarterly sales and profit estimates. Better-than-expected revenue from Teradyne's semiconductor test group contributed to the solid performance, and the company's CEO highlighted system-on-a-chip for artificial intelligence applications as a key growth driver.
Humana (HUM) shares jumped 12.4% after the health insurer topped sales and profit expectations for the second quarter and raised its full-year outlook. Humana issued stronger-than-expected forecasts for its Medicare Advantage business and CenterWell, which provides primary care and in-home health services to seniors. Elevated health care costs have forced Humana and its health insurance industry peers to cut or withdraw guidance over the past two years.
IDEX (IEX) shares tumbled 11.3%, the most of any S&P 500 stock, following the industrial equipment manufacturer's quarterly earnings report. Although the provider of pumps, valves, and other apparatuses topped sales and profit estimates, its outlook for the current quarter and the full year came in below analysts' forecasts. The company cited soft demand as customers exercise caution in the uncertain macroeconomic environment.
Old Dominion Freight Line (ODFL) missed second-quarter revenue and earnings forecasts, and shares of the trucking company plunged 9.7%. The company said softness in the domestic economy and an extended period of weakness in freight markets weighed on its performance.
President Trump declared that the U.S. will impose a 50% tariff on copper products, but not the metal in its raw form. Copper futures, which soared earlier this month when Trump said he would impose the tariffs, tumbled in the wake of the announcement, as did shares of major copper producer Freeport-McMoRan (FCX), which ended Wednesday's session 9.5% lower.
