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Yahoo
28 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq wobble as Trump's deadline delay gives hope of trade deals
US stocks wobbled on Tuesday as Wall Street weighed President Trump's threat of stiff tariffs on key trading partners against his reprieve on the return of sweeping "Liberation Day" duties. The S&P 500 (^GSPC) fell 0.2%, while the Dow Jones Industrial Average (^DJI) fell 0.4%. The tech-heavy Nasdaq Composite (^IXIC) retreated 0.1%, on the heels of a losing start to the week for the major gauges. Stocks were little changed as markets look for the positive in Trump's latest trade policy shifts. He has moved his July 9 deadline for the resumption of "reciprocal" tariff rates to Aug. 1, giving countries three extra weeks to negotiate trade deals with the US. The president said late Monday that the Aug. 1 deadline was "firm, but not 100% firm" and that he's open to extensions if countries make proposals. That provided fuel for the "TACO" trade — the idea that "Trump always chickens out," or that he will eventually dial back on his trade threats. Read more: The latest on Trump's tariffs Stock benchmarks in Japan and South Korea closed higher on Tuesday, despite Trump's threat to start imposing 25% duties on imports from those countries in August. Another 12 US trading partners received letters laying out tariffs of up to 40% on Monday, with Malaysia, South Africa, and Indonesia among them. The letters said the rates could be adjusted if countries tailor their trade policies as the US wants. In response, South Korea said it would kick trade negotiations with the US into high gear, adding that it considered the new date an extension of a grace period. "The president may send more letters in the coming days and weeks," the White House said in a statement. Meanwhile, Amazon (AMZN) is set to kick off its Prime Day deals later, with investors on watch for signs that tariff costs are pushing up price tags. The e-commerce giant has extended the event to four days this year. Elsewhere, Wall Street expects a quiet week in terms of economic releases and earnings. Minutes from the Federal Reserve's June meeting are due on Wednesday, while Delta's (DAL) results on Thursday signal the return of earnings season. Circle (CRCL) shares dipped as much as 4% before paring losses on Tuesday after a Wall Street analyst flagged growing risks from rising competition and looming interest-rate cuts that could take a bite out of the stablecoin issuer's revenue. The stock has surged more than 500% since Circle's public debut last month at $31 per share, buoyed by optimism around the broader adoption of asset-backed digital tokens. But Mizuho analysts pushed back on the bullish outlook, initiating coverage with an Underperform rating and a $85 price target, compared with its recent levels above $200 a share. Circle makes much of its money from interest income — specifically from the short-term treasury bills that underpin its stablecoin, USDC. "We believe consensus does not fully account for looming interest rate cuts, and also overstates USDC's medium-term growth potential," wrote Mizuho managing director Dan Dolev and his team. Dolev also pointed to rising distribution costs as Circle shares a portion of its reserve income partners like Coinbase (COIN). The analysts also pointed out last months' passage of the GENIUS Act, legislation aimed at creating regulatory guardrails for the industry, could be the catalyst that brings competing stablecoins to the market. Stocks were little changed Tuesday as investors awaited further trade developments after President Trump sent tariff letters to 14 countries and extended his deadline for "reciprocal" tariff rates from July 9 to August 1, giving trading partners three more weeks to negotiate. The S&P 500 (^GSPC) rose 0.1%. The Dow Jones Industrial Average (^DJI) fell slightly. The tech-heavy Nasdaq Composite (^IXIC) edged up 0.3%, on the heels of a losing start to the week for the major gauges. Tesla stock (TSLA) rose 1% after sinking more than 6% in the prior session as CEO Elon Musk announced his intention to start a new third political party in the US. Tesla stock (TSLA) rose 1% in premarket trading on Tuesday. However, it remains below the key 50-day, 100-day, and 200-day moving averages, according to Yahoo Finance analysis. Yahoo Finance's Brian Sozzi writes: Read more here. Reuters reports: Read more here. Solar stocks fell in premarket trading on Tuesday after President Trump issued an executive order directing federal agencies to strictly enforce provisions in the "big, beautiful bill" that would end clean energy subsidies. Under the law and Trump's executive order, only projects that have "a substantial portion of a subject facility" built in the next 12 months can claim tax credits, and the projects must be in service by 2027. Trump also directed the heads of Treasury and Interior to write new guidance in the next 45 days. Sunrun (RUN) fell 7.2%, Enphase (ENPH) dropped 3.4%, and First Solar (FSLR) was down 2.7%. NextEra Energy (NEE) and AES (AES) slid 2.3%. Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Meta (META) has hired Ruoming Pang, the head of Apple's (AAPL) artificial intelligence models team, in another setback for the iPhone maker's AI push. Pang is the latest big hire in Meta CEO Mark Zuckerberg's fierce AI headhunting spree, and he was offered a package worth tens of millions of dollars to lure him away from Apple, sources told Bloomberg. Bloomberg reports: Read more here. Earnings: No notable earnings releases. Economic data: NFIB small business optimism (June); NY Fed 1-year inflation expectations (June) Here are some of the biggest stories you may have missed overnight and early this morning: Trump's new tariffs are nearly identical to 'Liberation Day' rates Here's who will benefit most from the Trump tax bill's new SALT cap China warns Trump on tariffs, threatens supply chain payback Apple loses top AI models exec to Meta Japan, South Korea stocks gain as Trump extends tariff deadline Chipmakers may face serious disruption in copper supply: PwC EU rushes to conclude framework trade deal with US Goldman lifts S&P 500 forecasts, sees 6,600 by year's end Here are some top stocks trending on Yahoo Finance in premarket trading: First Solar (FSLR) shares fell 2% on Tuesday before the bell following the announcement on Monday that President Trump's "big, beautiful bill" will end clean energy subsidies for companies like First Solar. Battery provider, SolarEdge Technologies (SEDG), fell 4% and Enphase Energy (ENPH) also dropped 4%. Tesla (TSLA) stock rebounded on Tuesday and was up 1% in premarket trading after closing 6% down on Monday. CEO Elon Musk announced he plans to continue in politics by making the "America Party," despite calls from investors to refocus on running his company. Alaska Airlines (AAL) stock rose 3% after the airline received a positive earnings preview. UBS Securities said in an earnings preview Monday that it expects Alaska Airlines' second quarter earnings per share to be in line with company guidance due to demand stabilizing. Japan and South Korea's stock benchmarks edged higher on Tuesday, despite President Trump's threat of 25% tariff rates in letters sent to the top US trading partners. Analysts suggest markets are cautiously hopeful that the countries can hammer out a trade deal with the US, as Trump has given more breathing space by pushing back the start of tariffs to Aug. 1. Reuters reports: Read more here. Oil dipped early Tuesday morning as investors eyed the impacts of Trump's fast-approaching tariffs, despite the deadline for implementation being pushed until August. In combination with tariff speculation, OPEC+ announced a decision to increase supply in August, further lowering the price of the commodity. Bloomberg reports: Read more here. Circle (CRCL) shares dipped as much as 4% before paring losses on Tuesday after a Wall Street analyst flagged growing risks from rising competition and looming interest-rate cuts that could take a bite out of the stablecoin issuer's revenue. The stock has surged more than 500% since Circle's public debut last month at $31 per share, buoyed by optimism around the broader adoption of asset-backed digital tokens. But Mizuho analysts pushed back on the bullish outlook, initiating coverage with an Underperform rating and a $85 price target, compared with its recent levels above $200 a share. Circle makes much of its money from interest income — specifically from the short-term treasury bills that underpin its stablecoin, USDC. "We believe consensus does not fully account for looming interest rate cuts, and also overstates USDC's medium-term growth potential," wrote Mizuho managing director Dan Dolev and his team. Dolev also pointed to rising distribution costs as Circle shares a portion of its reserve income partners like Coinbase (COIN). The analysts also pointed out last months' passage of the GENIUS Act, legislation aimed at creating regulatory guardrails for the industry, could be the catalyst that brings competing stablecoins to the market. Stocks were little changed Tuesday as investors awaited further trade developments after President Trump sent tariff letters to 14 countries and extended his deadline for "reciprocal" tariff rates from July 9 to August 1, giving trading partners three more weeks to negotiate. The S&P 500 (^GSPC) rose 0.1%. The Dow Jones Industrial Average (^DJI) fell slightly. The tech-heavy Nasdaq Composite (^IXIC) edged up 0.3%, on the heels of a losing start to the week for the major gauges. Tesla stock (TSLA) rose 1% after sinking more than 6% in the prior session as CEO Elon Musk announced his intention to start a new third political party in the US. Tesla stock (TSLA) rose 1% in premarket trading on Tuesday. However, it remains below the key 50-day, 100-day, and 200-day moving averages, according to Yahoo Finance analysis. Yahoo Finance's Brian Sozzi writes: Read more here. Reuters reports: Read more here. Solar stocks fell in premarket trading on Tuesday after President Trump issued an executive order directing federal agencies to strictly enforce provisions in the "big, beautiful bill" that would end clean energy subsidies. Under the law and Trump's executive order, only projects that have "a substantial portion of a subject facility" built in the next 12 months can claim tax credits, and the projects must be in service by 2027. Trump also directed the heads of Treasury and Interior to write new guidance in the next 45 days. Sunrun (RUN) fell 7.2%, Enphase (ENPH) dropped 3.4%, and First Solar (FSLR) was down 2.7%. NextEra Energy (NEE) and AES (AES) slid 2.3%. Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. Meta (META) has hired Ruoming Pang, the head of Apple's (AAPL) artificial intelligence models team, in another setback for the iPhone maker's AI push. Pang is the latest big hire in Meta CEO Mark Zuckerberg's fierce AI headhunting spree, and he was offered a package worth tens of millions of dollars to lure him away from Apple, sources told Bloomberg. Bloomberg reports: Read more here. Earnings: No notable earnings releases. Economic data: NFIB small business optimism (June); NY Fed 1-year inflation expectations (June) Here are some of the biggest stories you may have missed overnight and early this morning: Trump's new tariffs are nearly identical to 'Liberation Day' rates Here's who will benefit most from the Trump tax bill's new SALT cap China warns Trump on tariffs, threatens supply chain payback Apple loses top AI models exec to Meta Japan, South Korea stocks gain as Trump extends tariff deadline Chipmakers may face serious disruption in copper supply: PwC EU rushes to conclude framework trade deal with US Goldman lifts S&P 500 forecasts, sees 6,600 by year's end Here are some top stocks trending on Yahoo Finance in premarket trading: First Solar (FSLR) shares fell 2% on Tuesday before the bell following the announcement on Monday that President Trump's "big, beautiful bill" will end clean energy subsidies for companies like First Solar. Battery provider, SolarEdge Technologies (SEDG), fell 4% and Enphase Energy (ENPH) also dropped 4%. Tesla (TSLA) stock rebounded on Tuesday and was up 1% in premarket trading after closing 6% down on Monday. CEO Elon Musk announced he plans to continue in politics by making the "America Party," despite calls from investors to refocus on running his company. Alaska Airlines (AAL) stock rose 3% after the airline received a positive earnings preview. UBS Securities said in an earnings preview Monday that it expects Alaska Airlines' second quarter earnings per share to be in line with company guidance due to demand stabilizing. Japan and South Korea's stock benchmarks edged higher on Tuesday, despite President Trump's threat of 25% tariff rates in letters sent to the top US trading partners. Analysts suggest markets are cautiously hopeful that the countries can hammer out a trade deal with the US, as Trump has given more breathing space by pushing back the start of tariffs to Aug. 1. Reuters reports: Read more here. Oil dipped early Tuesday morning as investors eyed the impacts of Trump's fast-approaching tariffs, despite the deadline for implementation being pushed until August. In combination with tariff speculation, OPEC+ announced a decision to increase supply in August, further lowering the price of the commodity. Bloomberg reports: Read more here. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Bloomberg
34 minutes ago
- Bloomberg
The Center is "Getting Smaller" For Both Parties Says Gov. Lamont
Ned Lamont, Connecticut Governor (Democrat), joins Bloomberg Surveillance to offers his reaction to President Trump's tax bill as well as the current state and future of the Democratic party. (Source: Bloomberg)
Miami Herald
40 minutes ago
- Miami Herald
Who's running for governor in Maryland so far? See the growing list
BALTIMORE - There's a growing field of candidates vying to steal Democratic Gov. Wes Moore's seat ahead of the 2026 primary election. Though only one candidate has officially filed with the State Board of Elections, four Republicans, two Democrats, and one Green Party candidate have publicly stated that they have their eyes on Maryland's chief executive position. The race grows ever more crowded as Moore hits the campaign trail to stump for Democrats in other states, signaling presumed presidential aspirations. But Maryland and Moore both face new challenges from President Donald Trump, who is implementing tougher, more conservative policies during his second non-consecutive term. Moore has said Trump's agenda is likely to exacerbate the state's already precarious fiscal situation that the governor and General Assembly wrestled with during the 2025 legislative session. They closed a $3.3 billion budget deficit through $2 billion in cuts and a plan to rake in over $1 billion more through new and increased taxes and fees, leaving some gubernatorial hopefuls with the feeling that there may be an opening for a fresh face at the Maryland State House. Here's a look at the field, including Moore, as we hit 2025's halfway mark. Democrats Wes Moore, the incumbent In spite of his limited political background, Gov. Wes Moore swept his gubernatorial election competitor, former Del. Dan Cox, a Frederick County Republican, after at least 13 other hopefuls put their hats in the ring during the 2022 gubernatorial election. As he approaches his first gubernatorial reelection campaign, the 46-year-old popular Maryland governor has campaign funds clocking in at nearly $5 million. A rising star in the Democratic Party, Moore has enjoyed the national spotlight during his first term in situations both ideal and tragic. The governor, who has enjoyed the company of political heavy-hitters, including former President Joe Biden, and spoke at the 2024 Democratic National Convention as the party prepared to tap Vice President Kamala Harris as its nominee. He has also received recognition from Hollywood icon George Clooney, who said on CNN that Moore could be a viable presidential candidate. Moore has publicly said he is not interested in running for president in 2028. The nation's eyes were also on Moore in the aftermath of the collapse of the Francis Scott Key Bridge in March 2024, which in its wake killed six and crippled activity at the Port of Baltimore. Through a coordinated effort with state and federal officials, he was able to reopen the port three months later. Though gaining prominence within the Democratic Party, Moore, a military veteran, faced national criticism for incorrectly claiming on a 2006 White House fellowship application that he was a Bronze Star recipient. Moore has also seen a recent dip in his approval rating after forging a plan with leadership in the Maryland General Assembly to increase taxes in his attempt to fill the state's recent $3.3 billion structural budget deficit. Ed Hale The 78-year-old Democratic Baltimore businessman and former banker Edwin "Ed" Hale Sr. announced his plans to run for governor in early May, despite not filing his official paperwork to do so yet. The Sun reported that Hale's campaign is centered around curbing juvenile crime and improving Maryland's business landscape, noting that Six Flags America in Prince George's County is closing permanently, the Washington Commanders are likely leaving the state, and Trump upended plans to build the FBI's new headquarters in Greenbelt as previously planned in reference to Maryland's current business environment. The founder and former head of the First Mariner Bancorp, the holding company of the Baltimore-based Mariner Bank, Hale is a businessman who established trucking and shipping companies. He is the current owner of the Baltimore Blast, the city's indoor professional soccer team. Republicans Christopher Bouchat Republican candidate Bouchat, a self-proclaimed "conservative" representing Carroll and Frederick Counties, recently told The Sun he plans to run for governor, though he has yet to file with the State Board of Elections. Among his campaign priorities are "limited government," "personal freedom" and "economic free markets." An occasional lightning rod for controversy, Bouchat is rounding out his first term in the Maryland House of Delegates. He is the chairman of Bouchat Industries, Inc., a metal and welding business he founded in 1994. Previously, Bouchat served on the Board of Carroll County Commissioners and the Carroll County Board of Health. John Myrick Republican John Myrick is the only candidate who has officially filed to run, listing former state Del. Brenda Thiam, the first Black woman Republican to serve in the Maryland House of Delegates, as his running mate. The 60-year-old candidate is a former senior federal intelligence officer, Harford County deputy sheriff and member of the U.S. Air Force Reserves. Myrick's campaign centers on improving business development in the state, and he aims to create a combination of private and public sector jobs, improve the education system, public safety, and address the budget deficit. Myrick ran an unsuccessful primary campaign against popular former Republican Gov. Larry Hogan in the 2024 race to replace outgoing U.S. Sen. Ben Cardin, a Democrat. Kurt Wedekind A 60-year-old Carroll County farmer, Kurt Wedekind plans to center his campaign on lowering the high taxes that he said forced his family and friends out of the state. After contracting Lyme Disease, Wedekind opened Wedekind Farms in Westminster, where he and his family sell natural grass-fed beef and pork. Because of his condition, he plans to prioritize improving health outcomes, and said he shares various sentiments with U.S. Health and Human Services Secretary Robert F. Kennedy Jr. Wedekind also plans to platform on reducing government spending. "Our campaign represents a majority of people who live in this state," he told The Sun. The farmer said he will launch a website soon and is looking for a running mate. The Green Party Andy Ellis Andy Ellis is a 48-year-old Green Party candidate and a resident of Northeast Baltimore. He stresses the importance of healthy debate in his campaign messaging and calls for Maryland Public Television to change its "arbitrary" debate rules to support the inclusion of all gubernatorial candidates. Ellis is prioritizing the creation of a "multiparty democracy." He also wants to declare a climate emergency in the state, invest in community organizations, and develop an alternative "solidarity economy." Ellis has a unique focus on the Israeli-Palestinian conflict, advocating for the United States to "end all military, economic, and diplomatic support for Israel and push for peace, democracy and justice for all people in Israel and Palestine." He told The Sun in late May that he hadn't filed to run because he was still in the process of choosing a running mate. Ellis previously worked at Nielsen, a media data and analytics company, and has coached debate teams at the Baltimore Urban Debate League and Towson University. Another possibility? Former Gov. Larry Hogan Former Gov. Larry Hogan, Moore's 69-year-old, popular Republican predecessor, served as Maryland's governor from 2015 to 2023, during which time he publicly battled Trump and led the state through the beginning of the COVID-19 pandemic. He lost the 2024 race to replace outgoing U.S. Senator Ben Cardin against Democrat Angela Alsobrooks. Hogan declined to discuss any possible plans for another gubernatorial run last week. "I'm enjoying retirement," Hogan said. ---------- Reporter Hannah Gaskill contributed to this report. -------------- Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
