11:55 AM EDT, 07/23/2025 (MT Newswires) -- All three major US stock indexes were up in late-morning trading on Wednesday after President Donald Trump announced a trade deal with Japan that includes a reciprocal 15% tariff on imports from the Asian country.

Trump also said Japan will invest $550 billion in the US, which will receive 90% of the profits.

Shares of Japanese carmakers Toyota Motor ( TM ) and Honda Motor ( HMC ) rose around 13% each following the completion of the trade agreement between the US and Japan.

The European Union is readying retaliatory tariffs of 30% on up to 100 billion euros ($117 billion) of US goods if no trade deal is reached and Trump a imposes similar levy on EU exports after Aug. 1, Bloomberg reported, citing a European Commission spokesperson.

In earnings news, GE Vernova ( GEV ) shares were up 15% after the company reported that its Q2 earnings fell to $1.86 per share from $4.65 and total revenue increased to $9.11 billion $8.20 billion from a year ago, beating analyst estimates. For fiscal 2025, GE Vernova ( GEV ) now expects revenue towards the higher end of the $36 billion and $37 billion guidance range. Analysts polled by FactSet expected $37.03 billion.

SAP (SAP) reported Q2 non-IFRS earnings of 1.50 euros ($1.76) per basic share, up from 1.10 euros a year earlier. Analysts polled by FactSet expected 1.42 euros. Revenue for the quarter ended June 30 was 9.03 billion euros, up from 8.29 billion euros a year earlier. Analysts surveyed by FactSet expected 9.09 billion euros. SAP shares were down 4.9% in recent Wednesday trading.

Texas Instruments ( TXN ) shares fell 13% after the company reported Q2 earnings late Tuesday of $1.41 per diluted share, up from $1.22 a year earlier. Analysts polled by FactSet expected $1.36. Revenue for the quarter ended June 30 was $4.45 billion, up from $3.82 billion a year earlier. Analysts surveyed by FactSet expected $4.36 billion. The company set Q3 EPS guidance of $1.36 to $1.60 on revenue of $4.45 billion to $4.80 billion. Analysts expected EPS of $1.51 on revenue of $4.59 billion.

AT&T ( T ) reported Q2 adjusted earnings of $0.54 per diluted share, up from $0.51 a year earlier. Analysts polled by FactSet expected $0.53. Total operating revenue for the quarter ended June 30 was $30.85 billion, up from $29.80 billion a year earlier. Analysts surveyed by FactSet expected $30.46 billion. The company said it continues to expect 2025 adjusted EPS of $1.97 to $2.07. Analysts polled by FactSet expect $2.07. Shares of the company were up 0.5% in recent trading.

Fiserv ( FI ) shares were down 18% after providing 2025 organic revenue growth guidance of about 10%, the low end of its previous guidance, and announcing that it has signed a purchase agreement with Toronto-Dominion Bank ( MLWIQXX ) to buy a part of its merchant processing business in Canada.

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