A solid earnings season shows Corporate America’s profit engine is humming along, potentially easing worries that the record-setting rally in US stocks is starting to overheat.

Refiner Phillips 66 beat Wall Street estimates for second-quarter profit on Friday, helped by higher refining margins and lower turnaround expenses.

Tesla revenue dropped 12%, and profits slumped 16% in the three months through June as buyers continued to steer clear, and in some cases, turn to more affordable competitors' offerings.

Wall Street investors punished Southwest for chopping its 2025 profit outlook by up to 65%, as the carrier’s executives implement changes driven by its activist investor.

India's SBI Cards and Payment Services reported first-quarter profit below expectations on Friday, weighed by a surge in the credit card service provider's write-offs. The country's lenders are grappling with rising bad loans,

General Motors' profit and revenue declined in its second-quarter but the automaker's results managed to easily top Wall Street's expectations and the company stuck by its full-year financial outlook that it lowered in May.

Asian equities were lower overnight after a significant rally for the week. Hong Kong and Mainland China both closed lower, though the latter outperformed. Analysts cited profit taking after a strong week,

Indian homebuilder Sobha reported a first-quarter profit on Friday that more than doubled, helped by higher prices and sustained demand for premium apartments.

Daniel Roper allegedly lost money while executing more than 20,000 trades in a little more than a year in an account he didn’t have discretion over.