Wall Street Live: US stocks mixed following Donald Trump's latest tariff threats
At 9:31 AM ET, the Dow Jones Industrial Average fell 126.24 points, or 0.28%, to 44,245.27, the S&P 500 lost 6.11 points, or 0.10%, to 6,253.64 and the Nasdaq Composite gained 27.83 points, or 0.14%, to 20,613.36.
Over the weekend, President Donald Trump announced that he plans 30% tariffs on goods from Mexico and the European Union.
The levies could make everything from French cheese to German electronics more costlier in the US, while destabilizing economies from Portugal to Norway.
In the bond market, the yield on the 10-year Treasury was flat at 4.43%.
The US dollar edged up to 147.45 against Japanese yen from 147.38. The euro fell modestly to $1.1690 from $1.1692.
Crypto stocks surged after Bitcoin soared to fresh highs amid bullish momentum across risk assets.
The cryptocurrency rose 3.6% early on Monday before settling back around $121,315, according to CoinDesk.
Fastenal stock rose 4.5% after the distributor of industrial and construction supplies reported stronger quarterly profit.
Kenvue shares advanced 3.4% after the former division of Johnson & Johnson said CEO Thibaut Mongon is stepping down.
Gold prices were steady on Monday with focus on trade talks and US economic data.
Spot gold was little changed at $3,356.95 per ounce, as of 0937 AM EDT (1337 GMT). US gold futures were flat at $3,365.30.
Spot silver gained 1.1% to $38.78 per ounce.
Platinum fell 2.4% to $1,365.19 and palladium dropped 2.6% to $1,183.75.
Oil prices rose on Monday on signs of tighter supply.
Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while US West Texas Intermediate crude futures climbed 12 cents, or 0.2%, to $68.57.
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Time of India
17 minutes ago
- Time of India
Markets await US CPI for tariff impact clues amid Trump's trade threats: Peter Cardillo
"The higher end of the tariff scale is just a threat and we just have to wait and see whether or not they will be imposed or whether or not they will have an inflationary impact. But again, they are just negotiating starts and that most nations will work out a deal and whether or not we get 10% or 6% in tariff implementation of tariffs is yet to be seen but some sort of a deal will be worked out. I do not think that Trump will go ahead with these steep tariffs," says Peter Cardillo , Spartan Capital Securities . US President Donald Trump yesterday made some bold comments surrounding Russia. One, he said he is disappointed with Russian President Putin. And he also said that if they do not come out with a deal over the next 50 days, then severe tariffs could be imposed. How do you read this and do you expect the dust to settle down over a period of time? Peter Cardillo: Well, obviously President Trump is imposing steep tariffs, not only is he indicating to Russia that if a deal is not made within 50 days that tariffs will be 100%, but he is doing it with most other countries that letters were sent out. It is just a bargaining point. And of course, in the case of Russia, it might be a little bit different because we are not talking about tariffs on imported goods, but rather on the war factor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo So, it is a question now whether or not Russia begins to think seriously on ending the war in Ukraine. And so, the more pressure that Trump puts on Russia along with other European nations, the greater the chances of some sort of a truce may happen. And let us not forget something very important that the Russian economy is in dire straits, so he really cannot afford steep tariffs nor can he afford more sanctions. So, there is a possibility that some sort of a truce could happen within the next 50 days. I wanted to understand your view on the tariffs that will be imposed starting August 1st on EU and Mexico as well. You did previously say that tariffs at these levels are unlikely to be implemented, but that August one deadline is looming. So, do you believe a resolution will be out before that or do you think these tariffs will be implemented at these levels? Peter Cardillo: Well, again, if I heard the question correctly because the audio is not that great, the situation with Mexico is like every other nation. However, Mexico did say that they have a contra plan and, of course, we have to see what this contra plan is all about and whether or not the administration accepts it. Live Events I believe there will be a deal with Mexico along with other major nations. It is just a question of what type of a deal. Do I believe that these steep tariffs that President Trump suggests that will be implemented on August 1st go through? I do not think so. They will be much less and then, of course there is the question of whether or not they will be met with a surge in tariff inflation. In fact, today we will be getting some inflation news that is the CPI and there could very well be some hint of whether or not inflation is beginning to emerge from some of the tariffs. But he has also made some comments on tariff on Russia and secondary tariffs on all those countries who buy Russian energy. Do you think that this is merely a threat and Trump is using it as a negotiating tool or perhaps could it translate into something concrete? Peter Cardillo: Well, it is a combination. It is a negotiating tool and it is also a way of Trump trying to bring together this trade war and lessen its burdens and this burden that could have on the global economy . So far, we have not seen any evidence of inflation popping up anywhere. We saw numbers out of India which suggest inflation continues to move lower and it all depends how steep these tariffs are going to be. So, so far, the higher end of the tariff scale is just a threat and we just have to wait and see whether or not they will be imposed or whether or not they will have an inflationary impact. But again, they are just negotiating starts and that most nations will work out a deal and whether or not we get 10% or 6% in tariff implementation of tariffs is yet to be seen but some sort of a deal will be worked out. I do not think that Trump will go ahead with these steep tariffs.
Business Standard
17 minutes ago
- Business Standard
Nifty trades above 25,100 level; PSU Bank shares climb
The key equity benchmarks continued to trade with minor gains in morning trade, supported by mild buying interest and favourable domestic data. Investors are assessing the domestic economic data, the tariff development, and ongoing corporate earnings. Nifty hovered above the 25,100 level. PSU Bank shares witnessed buying demand for second consecutive trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 85.72 points or 0.10% to 82,342.16. The Nifty 50 index added 31.10 points or 0.13% to 25,114.70. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index added 0.68%. The market breadth was strong. On the BSE, 2,498 shares rose and 1,101 shares fell. A total of 204 shares were unchanged. GM Breweries (up 0.24%), HDB Financial Services(down 0.07%), HDFC Life Insurance company (up 0.37%), Himadri Special Chemicals(up 1.99%), ICICI Lombard General Insurance(up .04%), ICICI Prudential Insurance(down 0.39%), Just Dial (up 2.20%) will declare their results alter today. Economy: Indias retail inflation, measured by the Consumer Price Index (CPI), cooled to a multi-year low of 2.10% in June 2025, thanks to a sharp dip in food prices. The data, released by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday, 14 July 2025, marks the lowest year-on-year inflation rate since January 2019. For comparison, CPI inflation stood at 2.82% in May 2025 and 5.08% in June 2024. Buzzing Index: The Nifty PSU Bank index rose 1.36% to 7,172.85. The index jumped 2.09% for the two consecutive trading sessions. Punjab & Sind Bank (up 1.99%), UCO Bank (up 1.17%), State Bank of India (up 1.07%), Punjab National Bank (up 0.85%), Indian Overseas Bank (up 0.83%), Bank of Maharashtra (up 0.77%), Bank of Baroda (up 0.69%), Canara Bank (up 0.42%), Central Bank of India (up 0.42%) and Bank of India (up 0.16%) jumped. Stocks in Spotlight: RailTel Corporation of India rose 1.93% after the company secured an order worth Rs 264 crore from East Central Railway for the implementation of the Kavach system, the indigenous Train Collision Avoidance System (TCAS). MIC Electronics jumped 2.91% after the company has received a letter of acceptance (LoA) worth Rs 1.28 crore from the Palakkad division S and T, railway divisional office, Kerala.
Business Standard
32 minutes ago
- Business Standard
Wall Street Mixed as Nasdaq Rises, Dow Dips Amid Trump Tariff Threats
Markets remain choppy with Nasdaq edging up and Dow slipping slightly. Trump's proposed 30% tariffs on EU and Mexico spark caution while oil service stocks slide 3%. The Nasdaq is up 33.86 points or 0.2% at 20,619.38, the Dow is down 10.50 points or less than a tenth of a% at 44,361.01 and the S&P 500 1.51 points or less than a tenth of a% at 6,258.24. Wall Street trading remains choppy despite President Trump's threat to impose 30% tariffs on EU and Mexican imports starting August 1st. Trump argued that the U.S. has been exploited in trade for decades, costing trillions. In response, the EU has extended its suspension of countermeasures to allow time for negotiations. Traders remain cautious ahead of key upcoming economic reports. Oil service stocks significantly moved downwards with the Philadelphia Oil Service Index plunging by 3.0%. Oil producer, steel and housing stocks too saw notable weakness while brokerage stocks were visibly strong. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index dipped by 0.3% while China's Shanghai Composite Index rose by 0.3%. The major European markets have also turned mixed on the day while the U.K.'s FTSE 100 Index is up by 0.4%, the French CAC 40 Index is down by 0.4% and the German DAX Index is down by 0.7%. In the bond market, treasuries have shown a lack of direction over the course of the session. Currently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by less than a basis point at 2.73%.
