S&P 500 hits record, Fed divides, crypto rallies, earnings impress

US stocks pointed to new highs as second quarter earnings boost sentiment, even as the Federal Reserve grows more divided. Fed Governor Waller called for a July rate cut to support a cooling labor market, putting him in line with President Trump and at odds with other Fed officials. The Genius Act—the first US crypto law—heads to Trump’s desk, sending crypto’s market cap above $4 trillion, with ethereum (ETH-USD) a standout winner. Chevron (CVX) finalized its $53B Hess deal, while Talen Energy (TLN), 3M (MMM), and Netflix (NFLX) were among notable movers.

Takeaways:

• S&P 500 and Nasdaq notch new highs as earnings season heats up

• Fed division grows on rates; Waller pushes for cut as others urge caution

• Genius Act passes, fueling crypto rally; Chevron completes Hess deal

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