Russia, China, North Korea condemn Trump's $175 billion Golden Dome missile shield
The president discussed his $175 billion plan, which will use satellites and other technologies to detect and intercept a missile strike "even if they are launched from other sides of the world," Trump said last week.
The defensive plan, though it is believed to be years away before being fully operational despite Trump's three-year goal mark, sparked stiff backlash from the U.S.'s top competitors, who took direct aim at what they called Trump's "arrogance."
North Korea's foreign ministry, whose leader shared an uncommonly cordial relationship with Trump during his first term, called it the equivalent of an "outer space nuclear war scenario" that supports the administration's strategy for "uni-polar domination."
According to local media outlets, the ministry on Tuesday said it was a "typical product of 'America first', the height of self-righteousness, arrogance, high-handed and arbitrary practice."
The White House did not immediately respond to Fox News' Digital's questions regarding the reactions to the plan, intended to resemble Israel's "Iron Dome" defensive capability.
But the North Korean foreign ministry claimed the defensive strategy was actually an "attempt to militarize outer space" and "preemptively attain military superiority in an all-round way."
Similarly, on Tuesday, Russian foreign minister Maria Zakharova said the strategy would undermine the basis of strategic stability by creating a global missile defense system, reported Reuters.
But her comments were not the first time Moscow aligned its condemnation of the "Golden Dome" as it issued a joint statement with China earlier this month after Russian President Vladimir Putin and Chinese President Xi Jinping met for formal talks in Russia.
The duo called the plan "deeply destabilizing" and claimed it erodes the "inseparable interrelationship between strategic offensive arms and strategic defensive arms."
They also argued that it would turn "outer space into an environment for placing weapons and an arena for armed confrontation."
Russia has remained relatively muted in its response following Trump's Oval Office discussion on the Golden Dome, which came just two days after Trump held a two-hour phone call with Putin.
But China reiterated its objection to the plan, and following Trump's announcement on it, Foreign Ministry Spokesperson Mao Ning said last week, "The project will heighten the risk of turning space into a war zone and creating a space arms race, and shake the international security and arms control system."
Secretary of Defense Pete Hegseth has rejected the claims that the plan could be viewed as an "offensive" strategy and told Fox News Digital, "All we care about is protecting the homeland."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
Netflix, 3M, Schlumberger are part of Zacks Earnings Preview
Chicago, IL – July 14, 2025 – releases the list of companies likely to issue earnings surprises. This week's list includes Netflix NFLX, 3M MMM, Schlumberger SLB. The Q2 earnings season gets going in earnest this week, with almost 100 companies on deck to report results, including 38 S&P 500 members. This week's reporting docket is dominated by the big banks, but we have several bellwethers from other sectors also reporting, like Netflix, 3M, Schlumberger and others. Regular readers of our earnings commentary are familiar with the significant negative estimate revisions trend that we experienced over the last few months. We saw this in estimates for 2025 Q2 as well as for the second half of the year. For 2025 Q2, the expectation is for earnings growth of +4.7% relative to the same period last year on +4% higher revenues. This will be a material deceleration from the growth trend of recent quarters and will be the lowest earnings growth pace since the +4.3% growth rate in 2023 Q3. As we have been consistently flagging, earnings estimates took a renewed hit at the start of Q2, following the early April tariff announcement. This was particularly notable for Q2, but estimates for the following periods also got trimmed. While the revisions trend has notably stabilized in recent weeks, the magnitude of cuts to 2025 Q2 estimates is bigger and more widespread relative to what we have become used to seeing in the post-COVID period. Since the start of April, Q2 estimates have declined for 14 of the 16 Zacks sectors (Aerospace and Utilities are the only sectors whose estimates have gone up), with the biggest cuts to Autos, Energy, Transportation, Basic Materials, and Construction sectors. Estimates for the Tech and Finance sectors, the largest earnings contributors to the S&P 500 index, accounting for more than 50% of all index earnings, have also been cut since the quarter got underway. But as we have been pointing out in recent weeks, the revisions trend for the Tech sector has notably stabilized in recent weeks. We see this same trend at play in annual Tech sector estimates as well. While the tariff uncertainty is far from resolved, the market appears to have learnt to look past it. There is no question that elevated tariffs are a net negative for the economy as well as corporate profitability. But the consensus thought process appears to be that the worst of the issue is behind us, and the final tariff shape will be a lot less problematic than many had factored in at first. What this means for the Q2 earnings season is that expectations are likely too low, setting us up for actual results to be significantly better than expected. We may not get a lot of actual guidance from management teams, given the many unresolved macro questions. But we remain confident that management teams' qualitative commentary on business trends will be largely positive. All in all, the setup for the Q2 earnings season looks very favorable to us. In terms of S&P 500 index 'EPS', these growth rates approximate to $254.07 for 2025 and $287.36 for 2026. A big contributing factor to the negative revisions trend has been the Energy sector, whose estimates have been steadily coming down for a while now. The Energy sector's earnings are currently expected to be down -13.3% in 2025. Excluding the Energy sector, total S&P 500 earnings in 2025 are expected to be up +8.3%. While many in the market will tune in to the Q2 earnings season this week, the reporting cycle has actually been underway already. Through Friday, July 11th, we have seen quarterly results from 21 S&P 500 members already. Total earnings for these 21 index members that have reported results are up +1.3% from the same period last year on +5.8% revenue gains, with 76.2% of the companies beating EPS estimates and 81% of them beating revenue estimates. We are not drawing any conclusions from these results, given how small the sample is at this stage. As noted at the top, the reporting cycle ramps up this week, with 38 index members reporting results. Most of the big banks and brokers are on deck to report results this week, as are bellwethers from other sectors like Netflix, 3M, Schlumberger, and others. Netflix shares have been standout performers lately, with the stock up +39.7% this year, handily outperforming the S&P 500 index's +7% year-to-date gain. The stock was up big following each of the last three quarterly releases, so expectations remain high coming into this release. Schlumberger, the oilfield services leader, is dealing with a downbeat market sentiment. The stock is down -1.2% this year, compared to Halliburton's -13.8% decline and the broader market's +6.9% gain. It is all about the outlook for oilfield activity levels, which in turn is a function of oil prices. For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >>>> Finance Earnings Outlook Improves: A Closer Look From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months. Free: See Our Top Stock And 4 Runners Up Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Schlumberger Limited (SLB) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29 minutes ago
- Yahoo
Morning Bid: US earnings to shed light on tariff impact
A look at the day ahead in European and global markets from Rocky Swift With markets largely inured to an ever-changing tariff picture, the spotlight turns to Wall Street earnings for clues on how the trade drama is affecting corporate bottom lines. JPMorgan Chase, Wells Fargo and Citigroup are among heavyweights reporting second-quarter results today. Profits for S&P 500 companies in the second quarter are expected to rise 5.8%, according to LSEG data, down from a forecast of 10.2% on April 1, before U.S. President Donald Trump launched his trade war. Investors are also waiting for U.S. consumer price data for June, looking for any sign of price pressure from tariffs or hints on policy moves by the Federal Reserve. But the main Fed move Trump is gunning for is an early exit by Chairman Jerome Powell, who hasn't given in to the president's wish for "rocket fuel" rate cuts. Bond markets are on edge about whether an investigation into renovations of the central bank's headquarters will serve as fodder to oust Powell. Asian shares and Nasdaq futures got a bounce after Nvidia, the $4 trillion behemoth at the forefront of the artificial intelligence investment boom, said it will resume sales of its H20 chips to China. Nvidia CEO Jensen Huang will attend the opening ceremony of China's international supply chain expo on Wednesday, Chinese state TV said on Tuesday. Stock futures in Europe and the broader U.S. market pointed to slight gains at their openings. Key developments that could influence markets on Tuesday: - Germany's ZEW Economic Sentiment for July - Euro zone industrial production data for May - U.S. core consumer price index (CPI) for June - Canada CPI, housing starts for June - U.S. earnings: JPMorgan Chase, Wells Fargo, Citigroup, BlackRock Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here.
Yahoo
34 minutes ago
- Yahoo
Stock market today: Nasdaq secures record close as investors shake off tariff threats, eye key inflation data
US stocks rose on Monday with the Nasdaq (^IXIC) closing at a fresh record as Wall Street ultimately shrugged off renewed trade tensions and looked ahead to a key inflation report and the first wave of second quarter earnings. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) finished the mostly muted trading day up around 0.1% and 0.2%, respectively. The tech-heavy Nasdaq Composite (^IXIC) added around 0.3% to secure yet another all-time closing high. Meanwhile, bitcoin (BTC-USD) spiked above $123,000 for the first time as investors greeted the open of Congress's "Crypto Week," but the asset dropped back below $120,000 later in the day. Stocks with crypto ties also rallied as the House of Representatives weighs three key pieces of crypto-related legislation. Earlier in the day, investors showed a diminished appetite for risk after President Trump said Saturday that the US will impose 30% tariffs on goods from the EU and Mexico from Aug. 1. The increased pressure on key US trading partners is testing the market's previous resilience in the face of escalating tariff tensions. Faith in the idea that Trump will back off from threatened hikes helped lift stocks to all-time highs last week. Officials from the EU and Mexico are pushing to continue negotiations with the US in hopes of securing a lower rate via a new deal. The hiked tariffs as they stand are seen as likely to remake global trade relations and add to existing inflationary pressures. Read more: The latest on Trump's tariffs That adds uncertainty ahead of consumer inflation data scheduled for release this week. Investors are looking to the June CPI report on Tuesday for signs of how earlier rounds of tariffs are impacting prices across the US economy. The reading will feed into expectations for the Fed's decision on interest rates due in just over two weeks. Meanwhile, Trump ratcheted up tensions with Russia over the war in Ukraine on Monday, threatening to impose "secondary" tariffs of up to 100% on the country. He also said the US would provide weapons to Ukraine. Earnings season kicks into swing this week, with all the major US banks due to report results starting on Tuesday. Investors are showing interest in IPO and M&A markets, while Wells Fargo (WFC) reports after being freed from a decade of stringent regulatory restrictions. Stocks edged higher to kick off the week, with the Nasdaq Composite (^IXIC) notching a fresh record close Monday as investors looked past renewed trade tensions and turned their focus to a key inflation report and the start of second quarter earnings. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) also ended the session modestly in the green, rising about 0.1% and 0.2%, respectively, while the Nasdaq gained 0.3%. June's Consumer Price Index (CPI) is expected to show prices rose at a faster clip compared to May. The report, due Tuesday at 8:30 a.m. ET, comes as investors closely monitor whether President Trump's tariffs are starting to filter through to what consumers pay, even as inflation data has so far remained more resilient than expected. According to Bloomberg data, headline CPI is expected to have increased 2.6% year over year in June, up from a 2.4% rise in May. On a monthly basis, prices are forecast to climb 0.3%, marking an acceleration from the 0.1% gain the prior month. On a "core" basis, which strips out volatile food and energy prices, the annual inflation rate for June is expected to come in at 2.9%, a slight pickup from May's 2.8%. Core prices are also projected to climb 0.3% month over month, outpacing the previous 0.1% rise seen in May. In May, falling car and apparel prices, categories seen as early indicators of tariff impacts, contributed to a cooler-than-expected core CPI reading. But economists expect those trends to reverse in June, potentially pushing core inflation higher. The report lands amid renewed trade tensions between the US and other countries. President Trump has unveiled new letters to over 20 countries outlining tariffs ranging from 20% to 50%, including a 35% duty on Canadian goods and 30% tariffs on imports from Mexico and the European Union. He has also floated sweeping 15% to 20% tariffs on most trading partners. The EU, in response, is scrambling to negotiate while preparing potential countermeasures. Read more here. The stock market continues to shake off President Trump's latest tariff threats. New letters from Trump over the weekend threatened 30% duties on goods from Mexico and the European Union. On Monday, he threatened 100% tariffs on Russia. Still, the S&P 500 (^GSPC) rose about 0.2% on Monday. Sure, perhaps part of this is the so-called TACO trade, a calling card for investors to stay invested because "Trump always chickens out" on his highest tariff threats. But Morgan Stanley chief investment officer Mike Wilson points out there's likely something more mathematical at play. The recent tariff announcements have said nothing about China, and as our Chart of the Day from Wilson shows, that's what matters to the widest array of industries. Wilson segmented various industries into different subsectors of exposure to tariffs. Seven categories, including technology and semiconductors, have "more material risk," meaning that import exposure in that group from China is more than 15% of the global total of imports. In other words, tariffs on China would hurt sectors like the tech sector more than tariffs on nearly any other country listed in Wilson's work. "The more material trade-elated risk for equity indices would be if tariff rates on China were to increase materially from here," Wilson wrote. "China is significant not only because of the number of industries with tariff cost exposure, but also because of the market cap weighting of those industries, in aggregate." Yahoo Finance's Brooke DiPalma reports: Read more here. Meta (META) stock gained 1% after CEO Mark Zuckerberg announced on Monday that the company plans to build several data centers in the US. "Meta Superintelligence Labs will have industry-leading levels of compute and by far the greatest compute per researcher," Zuckerberg wrote in a post on Threads. The news followed several high-profile AI hires at Meta as the tech company looks to spend billions to advance its AI efforts and break free of its dependence on third-party companies. Yahoo Finance's Daniel Howley reports: Read more here. Procter & Gamble (PG) stock slipped about 2% on Monday after Evercore ISI analysts downgraded shares to In Line from Outperform, citing retail channel shifts and macro uncertainty. The analysts noted that P&G's sales growth could become capped as more consumers purchase household and personal care (HPC) items online with Amazon (AMZN) instead of at retailers like Walmart (WMT) and Costco (COST). "Our concern ... increasingly lies in adverse shifts in retail channels that challenge Procter's growth potential," the analysts wrote. "In the U.S., Amazon now accounts for 50% of all HPC growth, which creates a 2-point growth gap or one point globally relative to Procter's core retailers, mainly Walmart and Costco, where the firm remains competitively advantaged given scale and product superiority. A parallel shift to pure online in China compounds macro pressures and could delay a turnaround, in our view." Procter & Gamble's market share at Amazon is about one-third its share at Costco and Walmart, the analysts noted. They cut their price target on P&G stock to $170 from $190. Yahoo Finance's Jennifer Schonberger reports: Read more here. US stocks were little changed after President Trump floated secondary tariffs of up to 100% on Russia if the country does not make progress toward ending its war with Ukraine in 50 days. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) were roughly flat Monday afternoon, while the tech-heavy Nasdaq Composite (^IXIC) added about 0.2%. Per the FT: The tariffs Trump threatened would theoretically apply to the imports of countries that trade with Russia. Direct US trade with Russia has plummeted amid the war, but Russia still trades with many countries in Europe and Asia — most notably China. Yahoo Finance's Pras Subramanian reports: Read more here. Another Wall Street firm no longer sees the S&P 500 declining to finish the year. In a note to clients on Sunday, RBC Capital Markets boosted its year-end S&P 500 target to 6,250 from a prior target of 5,730. As RBC Capital Markets' Lori Calvasina noted, the adjustment comes amid the market's more than 25% bounce back from the April lows and essentially moves their target back to where it sat in mid-March before the bulk of the tariff turmoil began. "We feel neutral on the outlook for stocks in the 2nd half of 2025, and are mindful that our new price target is essentially in line with recent levels," Calvasina wrote. "We expect choppy conditions in the back half of the year, and swings in both directions." Calvasina noted that it's likely still "too early to stop worrying about tariff impacts" on corporate earnings and also highlighted a slowdown in recent momentum as reasons she remains cautious that the next major move for the benchmark index is higher. While Calvasina is at least the ninth strategist tracked by Yahoo Finance to recently raise their S&P 500 target from their April downward revision, she's also part of a growing list of those who aren't pounding the table for the rally to continue. Yardeni Research president Ed Yardeni, who maintains a 6,500 year-end target for the S&P 500, wrote in a note to clients on Sunday that the recent V-shape recovery in stocks could soon look more like a "square-root shaped pattern" where the rapid rise higher stalls out. Apple (AAPL) stock fell 1.2% in early trading on Monday as the iPhone maker faces pressure to shake up its artificial intelligence efforts and potentially acquire an established AI startup, such as Perplexity AI ( Bloomberg reports: Read more here. US stocks pulled back slightly on Monday as Wall Street braced for a turbulent week, with renewed trade tensions injecting uncertainty ahead of a key inflation report and the first wave of second-quarter earnings. The S&P 500 (^GSPC) was off about 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) was roughly flat. The Dow Jones Industrial Average (^DJI) fell about 0.2%. Crypto stocks added to this year's gains on Monday as bitcoin (BTC-USD) surpassed $120,000 for the first time. The rally in crypto highlighted optimism in the sector as House lawmakers kicked off "Crypto Week," which is expected to result in new crypto-friendly stablecoin legislation. Coinbase (COIN), the largest crypto exchange, rose 1.6%, while Robinhood (HOOD) gained nearly 3%. Stablecoin issuer Circle (CRCL) added 0.5%. Strategy (MSTR) was up 2.8%. The Michael Saylor-led firm is one of the largest corporate holders of bitcoin through its bitcoin treasury. Bitcoin was trading just below $121,000 as of 9 a.m. ET. Here's a look at stocks moving ahead of the opening bell: Nio (NIO): US-listed shares of Nio jumped 5% in premarket trading after the Chinese EV maker unveiled its line of ONVO L90 SUVs, which will be launched at the end of July. Early pre-sales boosted optimism about the competitiveness of the seven-seater vehicle. Nebius Group (NBIS): Nebius stock soared more than 7% after Goldman Sachs initiated coverage with a Buy rating, citing the company's role in providing AI infrastructure. Tesla (TSLA): Tesla stock rose 1.3% ahead of a shareholder vote to determine whether to invest in CEO Elon Musk's xAI startup. Musk announced the vote after SpaceX reportedly agreed to invest $2 billion in xAI. Lionsgate (LION): Lionsgate shares surged 11% premarket on reports that Legendary Entertainment was considering taking over the film studio. Check out more trending tickers here. Wall Street's giant lenders are getting set to report their second quarter results this week, kicking off earnings season in earnest. What a difference a quarter makes for the mood surrounding the US's largest banks, Yahoo Finance's David Hollerith reports: Read more here. Kenvue (KVUE) stock rose 4% in premarket trading after the company said CEO and board member Thibaut Mongon stepped down as part of a strategic review. The Tylenol maker, which spun off from Johnson & Johnson (JNJ) in 2023, named company director Kirk Perry as interim chief executive, per Reuters. "The Board's strategic review is underway, and we are considering a broad range of potential alternatives, including ways to simplify the company's portfolio and how it operates," board chair Larry Merlo said. Read more here. Stocks are on the back foot before the bell, but are still trading near record highs heading into a busy week of economic data and quarterly earnings reports. Yahoo Finance's Myles Udland lays out the highlights in what's coming this week: Read more here. Yahoo Finance UK's Lucy Harley-McKeown reports: The FTSE 100 (^FTSE) ticked higher and European stocks dropped on Monday morning, as traders digest the latest round of tariff threats by US President Donald Trump. The US and UK have already struck a partial trade deal, meaning tariff threats have less impact on the FTSE. Read more here. Reuters reports: Read more here. Bloomberg reports: Read more here. Stocks edged higher to kick off the week, with the Nasdaq Composite (^IXIC) notching a fresh record close Monday as investors looked past renewed trade tensions and turned their focus to a key inflation report and the start of second quarter earnings. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) also ended the session modestly in the green, rising about 0.1% and 0.2%, respectively, while the Nasdaq gained 0.3%. June's Consumer Price Index (CPI) is expected to show prices rose at a faster clip compared to May. The report, due Tuesday at 8:30 a.m. ET, comes as investors closely monitor whether President Trump's tariffs are starting to filter through to what consumers pay, even as inflation data has so far remained more resilient than expected. According to Bloomberg data, headline CPI is expected to have increased 2.6% year over year in June, up from a 2.4% rise in May. On a monthly basis, prices are forecast to climb 0.3%, marking an acceleration from the 0.1% gain the prior month. On a "core" basis, which strips out volatile food and energy prices, the annual inflation rate for June is expected to come in at 2.9%, a slight pickup from May's 2.8%. Core prices are also projected to climb 0.3% month over month, outpacing the previous 0.1% rise seen in May. In May, falling car and apparel prices, categories seen as early indicators of tariff impacts, contributed to a cooler-than-expected core CPI reading. But economists expect those trends to reverse in June, potentially pushing core inflation higher. The report lands amid renewed trade tensions between the US and other countries. President Trump has unveiled new letters to over 20 countries outlining tariffs ranging from 20% to 50%, including a 35% duty on Canadian goods and 30% tariffs on imports from Mexico and the European Union. He has also floated sweeping 15% to 20% tariffs on most trading partners. The EU, in response, is scrambling to negotiate while preparing potential countermeasures. Read more here. The stock market continues to shake off President Trump's latest tariff threats. New letters from Trump over the weekend threatened 30% duties on goods from Mexico and the European Union. On Monday, he threatened 100% tariffs on Russia. Still, the S&P 500 (^GSPC) rose about 0.2% on Monday. Sure, perhaps part of this is the so-called TACO trade, a calling card for investors to stay invested because "Trump always chickens out" on his highest tariff threats. But Morgan Stanley chief investment officer Mike Wilson points out there's likely something more mathematical at play. The recent tariff announcements have said nothing about China, and as our Chart of the Day from Wilson shows, that's what matters to the widest array of industries. Wilson segmented various industries into different subsectors of exposure to tariffs. Seven categories, including technology and semiconductors, have "more material risk," meaning that import exposure in that group from China is more than 15% of the global total of imports. In other words, tariffs on China would hurt sectors like the tech sector more than tariffs on nearly any other country listed in Wilson's work. "The more material trade-elated risk for equity indices would be if tariff rates on China were to increase materially from here," Wilson wrote. "China is significant not only because of the number of industries with tariff cost exposure, but also because of the market cap weighting of those industries, in aggregate." Yahoo Finance's Brooke DiPalma reports: Read more here. Meta (META) stock gained 1% after CEO Mark Zuckerberg announced on Monday that the company plans to build several data centers in the US. "Meta Superintelligence Labs will have industry-leading levels of compute and by far the greatest compute per researcher," Zuckerberg wrote in a post on Threads. The news followed several high-profile AI hires at Meta as the tech company looks to spend billions to advance its AI efforts and break free of its dependence on third-party companies. Yahoo Finance's Daniel Howley reports: Read more here. Procter & Gamble (PG) stock slipped about 2% on Monday after Evercore ISI analysts downgraded shares to In Line from Outperform, citing retail channel shifts and macro uncertainty. The analysts noted that P&G's sales growth could become capped as more consumers purchase household and personal care (HPC) items online with Amazon (AMZN) instead of at retailers like Walmart (WMT) and Costco (COST). "Our concern ... increasingly lies in adverse shifts in retail channels that challenge Procter's growth potential," the analysts wrote. "In the U.S., Amazon now accounts for 50% of all HPC growth, which creates a 2-point growth gap or one point globally relative to Procter's core retailers, mainly Walmart and Costco, where the firm remains competitively advantaged given scale and product superiority. A parallel shift to pure online in China compounds macro pressures and could delay a turnaround, in our view." Procter & Gamble's market share at Amazon is about one-third its share at Costco and Walmart, the analysts noted. They cut their price target on P&G stock to $170 from $190. Yahoo Finance's Jennifer Schonberger reports: Read more here. US stocks were little changed after President Trump floated secondary tariffs of up to 100% on Russia if the country does not make progress toward ending its war with Ukraine in 50 days. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) were roughly flat Monday afternoon, while the tech-heavy Nasdaq Composite (^IXIC) added about 0.2%. Per the FT: The tariffs Trump threatened would theoretically apply to the imports of countries that trade with Russia. Direct US trade with Russia has plummeted amid the war, but Russia still trades with many countries in Europe and Asia — most notably China. Yahoo Finance's Pras Subramanian reports: Read more here. Another Wall Street firm no longer sees the S&P 500 declining to finish the year. In a note to clients on Sunday, RBC Capital Markets boosted its year-end S&P 500 target to 6,250 from a prior target of 5,730. As RBC Capital Markets' Lori Calvasina noted, the adjustment comes amid the market's more than 25% bounce back from the April lows and essentially moves their target back to where it sat in mid-March before the bulk of the tariff turmoil began. "We feel neutral on the outlook for stocks in the 2nd half of 2025, and are mindful that our new price target is essentially in line with recent levels," Calvasina wrote. "We expect choppy conditions in the back half of the year, and swings in both directions." Calvasina noted that it's likely still "too early to stop worrying about tariff impacts" on corporate earnings and also highlighted a slowdown in recent momentum as reasons she remains cautious that the next major move for the benchmark index is higher. While Calvasina is at least the ninth strategist tracked by Yahoo Finance to recently raise their S&P 500 target from their April downward revision, she's also part of a growing list of those who aren't pounding the table for the rally to continue. Yardeni Research president Ed Yardeni, who maintains a 6,500 year-end target for the S&P 500, wrote in a note to clients on Sunday that the recent V-shape recovery in stocks could soon look more like a "square-root shaped pattern" where the rapid rise higher stalls out. Apple (AAPL) stock fell 1.2% in early trading on Monday as the iPhone maker faces pressure to shake up its artificial intelligence efforts and potentially acquire an established AI startup, such as Perplexity AI ( Bloomberg reports: Read more here. US stocks pulled back slightly on Monday as Wall Street braced for a turbulent week, with renewed trade tensions injecting uncertainty ahead of a key inflation report and the first wave of second-quarter earnings. The S&P 500 (^GSPC) was off about 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) was roughly flat. The Dow Jones Industrial Average (^DJI) fell about 0.2%. Crypto stocks added to this year's gains on Monday as bitcoin (BTC-USD) surpassed $120,000 for the first time. The rally in crypto highlighted optimism in the sector as House lawmakers kicked off "Crypto Week," which is expected to result in new crypto-friendly stablecoin legislation. Coinbase (COIN), the largest crypto exchange, rose 1.6%, while Robinhood (HOOD) gained nearly 3%. Stablecoin issuer Circle (CRCL) added 0.5%. Strategy (MSTR) was up 2.8%. The Michael Saylor-led firm is one of the largest corporate holders of bitcoin through its bitcoin treasury. Bitcoin was trading just below $121,000 as of 9 a.m. ET. Here's a look at stocks moving ahead of the opening bell: Nio (NIO): US-listed shares of Nio jumped 5% in premarket trading after the Chinese EV maker unveiled its line of ONVO L90 SUVs, which will be launched at the end of July. Early pre-sales boosted optimism about the competitiveness of the seven-seater vehicle. Nebius Group (NBIS): Nebius stock soared more than 7% after Goldman Sachs initiated coverage with a Buy rating, citing the company's role in providing AI infrastructure. Tesla (TSLA): Tesla stock rose 1.3% ahead of a shareholder vote to determine whether to invest in CEO Elon Musk's xAI startup. Musk announced the vote after SpaceX reportedly agreed to invest $2 billion in xAI. Lionsgate (LION): Lionsgate shares surged 11% premarket on reports that Legendary Entertainment was considering taking over the film studio. Check out more trending tickers here. Wall Street's giant lenders are getting set to report their second quarter results this week, kicking off earnings season in earnest. What a difference a quarter makes for the mood surrounding the US's largest banks, Yahoo Finance's David Hollerith reports: Read more here. Kenvue (KVUE) stock rose 4% in premarket trading after the company said CEO and board member Thibaut Mongon stepped down as part of a strategic review. The Tylenol maker, which spun off from Johnson & Johnson (JNJ) in 2023, named company director Kirk Perry as interim chief executive, per Reuters. "The Board's strategic review is underway, and we are considering a broad range of potential alternatives, including ways to simplify the company's portfolio and how it operates," board chair Larry Merlo said. Read more here. Stocks are on the back foot before the bell, but are still trading near record highs heading into a busy week of economic data and quarterly earnings reports. Yahoo Finance's Myles Udland lays out the highlights in what's coming this week: Read more here. Yahoo Finance UK's Lucy Harley-McKeown reports: The FTSE 100 (^FTSE) ticked higher and European stocks dropped on Monday morning, as traders digest the latest round of tariff threats by US President Donald Trump. The US and UK have already struck a partial trade deal, meaning tariff threats have less impact on the FTSE. Read more here. Reuters reports: Read more here. Bloomberg reports: Read more here. Sign in to access your portfolio
