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Yahoo
2 days ago
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- Yahoo
Stocks Pressured by Escalation of Trade Tensions
The S&P 500 Index ($SPX) (SPY) today is down -0.35%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.15%. September E-mini S&P futures (ESU25) are down -0.37%, and September E-mini Nasdaq futures (NQU25) are down -0.16%. Stock indexes are retreating today on the escalation of trade tensions as President Trump ramps up his threats to impose higher tariffs, sparking a risk-off environment in asset markets. Late Thursday, President Trump said a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. The new Canadian tariffs would not apply to goods traded within the rules of the US-Mexico-Canada Trade Agreement, and a lower 10% would be kept on some energy-related imports. He also said he plans to impose blanket tariffs of 15% or 20% on most US trade partners. Creating a 38% 'Dividend' on SOFI Stock Using Options Circle Stock Warning: CRCL Could Fall More Than 50% From Here Joby Aviation Just Hit a New 52-Week High. Should You Buy the Flying Car Stock Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Higher bond yields are also weighing on stocks today, with the 10-year T-note yield up +5 bp to 4.40%. Bond yields are climbing today on concern that President Trump's threats to impose higher tariffs on Canada and other US trading partners will lead to higher US inflation that could prevent the Fed from cutting interest rates. The price of Bitcoin (^BTSUSD) is up more than +3% today at a new record high. Bitcoin has rallied more than +9% this week after the US House Committee on Financial Services announced on Tuesday that the week of July 14 will be 'Crypto Week.' The US House Committee on Ways and Means has planned an oversight subcommittee hearing on July 16 entitled, 'Making America the Crypto Capital of the World,' which may lead to more crypto-friendly regulations. Stocks continue to see downward pressure as President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Earlier this week, Mr. Trump imposed a 50% tariff on copper imports that will include semi-finished goods, and said that drug companies could face tariffs as high as 200% on imports if they don't relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India's goods for their participation in BRICS, a group of developing nations he claimed were 'set up to hurt' the US. Another hurdle for stocks is the upcoming earnings season, which begins in earnest next week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research. Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting. Overseas stock markets today are mixed. The Euro Stoxx 50 is down -1.06%. China's Shanghai Composite climbed to a 9-month high and closed up +0.01%. Japan's Nikkei Stock 225 fell to a 1-week low and closed down -0.19%. Interest Rates September 10-year T-notes (ZNU25) today are down -13 ticks. The 10-year T-note yield is up +5.2 bp to 4.401%. T-note prices are sliding today as President Trump's threats to impose higher tariffs on Canada and other US trading partners fueled concern about higher US inflation that could prevent the Fed from cutting interest rates. Also, negative carryover from today's plunge in 10-year German bunds to a 3-1/4 month low is weighing on T-notes. European government bond yields today are moving higher. The 10-year German bund yield rose to a 3-1/4 month high of 2.734% and is up +2.1 bp at 2.726%. The 10-year UK gilt yield is up +3.0 bp to 4.626%. UK May manufacturing production fell -1.0% m/m, weaker than expectations of -0.1% m/m and the biggest decline in 10 months. ECB Executive Board member Isabel Schnabel said, 'The bar for another ECB interest rate cut is very high, and there would only be a case for another rate cut if we saw signs of a material deviation of inflation from our target over the medium term. And at the moment, I see no signs of that.' Swaps are discounting the chances at 2% for a -25 bp rate cut by the ECB at the July 24 policy meeting. US Stock Movers Airline stocks are moving lower today, giving back some of Thursday's sharp gains that were driven by positive guidance news from Delta. United Airlines Holdings (UAL) is down more than -4% to lead losers in the S&P 500. Also, American Airlines Group (AAL) is down more than -3%. In addition, Delta Air Lines (DAL) and Alaska Air Group (ALK) are down more than -2%. Capricor Therapeutics (CAPR) is down more than -28% after the FDA declined to approve the company's treatment candidate aimed at treating a disease of the heart muscle associated with Duchenne muscular dystrophy. Civista Bancshares (CIVB) is down more than -12% after announcing the pricing of an underwritten public offering of 3.29 million shares of common stock at a price of $21.25 per share, below Thursday's closing price of $24.82. Oscar Health (OSCR) is down more than -4% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $10. Albemarle (ALB) is down more than -3% after UBS downgraded the stock to sell from neutral with a price target of $57. Expeditors International of Washington (EXPD) is down more than -2% after Bank of America Global Research downgraded the stock to underperform. Northern Trust Corp (NTRS) is down more than -1% after Keefe, Bruyette & Woods downgraded the stock to underperform from market perform with a price target of $120. Drone-related companies are climbing today after US Defense Secretary Pete Hegseth issued orders to ramp up production and deployment of drones. Red Cat Holdings (RCAT) is up more than +19%, and AeroVironment (AVAV) and Kratos Defense & Security Solutions (KTOS) are up more than +7%. Cryptocurrency-exposed stocks are higher as the price of Bitcoin (^BTCUSD) rose more than +3% to a new record high. MicroStrategy (MSTR) is up more than +3% to lead gainers in the Nasdaq 100. Also, MARA Holdings (MARA) and Riot Platforms (RIOT) are up more than +2%. Levy Strauss & Co (LEVI) is up more than +10% after reporting Q2 net revenue of $1.45 billion, stronger than the consensus of $1.37 billion, and raising guidance on its full-year net revenue forecast to up +1% to +2% from a previous forecast of down -1% to -2%. Performance Food Group (PFGC) is up more than +4% on reports that the company has attracted takeover interest from US Foods Holding Corp. Visteon Corp (VC) is up more than +2% after Goldman Sachs upgraded the stock to buy from neutral with a price target of $120. Nvidia (NVDA) is up more than +1% at a record high to lead gainers in the Dow Jones Industrials after CEO Huang met President Trump at the White House, ahead of Huang's trip to China. Earnings Reports (7/11/2025) Hingham Institution For Saving (HIFS), Lifezone Metals Ltd (LZM), PACS Group Inc (PACS), Smith-Midland Corp (SMID), Unity Bancorp Inc (UNTY). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
2 days ago
- Business
- Yahoo
Stocks Retreat as President Trump Ramps Up Tariff Threats
The S&P 500 Index ($SPX) (SPY) today is down -0.57%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.65%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.51%. September E-mini S&P futures (ESU25) are down -0.67%, and September E-mini Nasdaq futures (NQU25) are down -0.57%. Stock indexes are retreating today as President Trump ramps up his threats to impose higher tariffs, sparking a risk-off environment in asset markets. Late Thursday, President Trump said a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. The new Canadian tariffs would not apply to goods traded within the rules of the US-Mexico-Canada Trade Agreement, and a lower 10% would be kept on some energy-related imports. He also said he plans to impose blanket tariffs of 15% or 20% on most US trade partners. Creating a 38% 'Dividend' on SOFI Stock Using Options Joby Aviation Just Hit a New 52-Week High. Should You Buy the Flying Car Stock Here? Nvidia Stock Regains Momentum. Is It Time to Buy, Sell, or Hold NVDA? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Higher bond yields are also weighing on stocks today, with the 10-year T-note yield up +5 bp to 4.40%. Bond yields are climbing today on concern that President Trump's threats to impose higher tariffs on Canada and other US trading partners will lead to higher US inflation that could prevent the Fed from cutting interest rates. The price of Bitcoin (^BTSUSD) is up more than +3% today at a new record high. Bitcoin has rallied more than +9% this week after the US House Committee on Financial Services announced on Tuesday that the week of July 14 will be 'Crypto Week.' The US House Committee on Ways and Means has planned an oversight subcommittee hearing on July 16 entitled, 'Making America the Crypto Capital of the World,' which may lead to more crypto-friendly regulations. Stocks continue to see downward pressure as President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Earlier this week, Mr. Trump imposed a 50% tariff on copper imports that will include semi-finished goods, and said that drug companies could face tariffs as high as 200% on imports if they don't relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India's goods for their participation in BRICS, a group of developing nations he claimed were 'set up to hurt' the US. Another hurdle for stocks is the upcoming earnings season, which begins in earnest next week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research. Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting. Overseas stock markets today are mixed. The Euro Stoxx 50 is down -0.91%. China's Shanghai Composite climbed to a 9-month high and closed up +0.01%. Japan's Nikkei Stock 225 fell to a 1-week low and closed down -0.19%. Interest Rates September 10-year T-notes (ZNU25) today are down -10 ticks. The 10-year T-note yield is up +4.8 bp to 4.397%. T-note prices are sliding today as President Trump's threats to impose higher tariffs on Canada and other US trading partners fueled concern about higher US inflation that could prevent the Fed from cutting interest rates. Also, negative carryover from today's plunge in 10-year German bunds to a 3-1/4 month low is weighing on T-notes. European government bond yields today are moving higher. The 10-year German bund yield rose to a 3-1/4 month high of 2.734% and is up +1.8 bp at 2.723%. The 10-year UK gilt yield is up +2.5 bp to 4.620%. UK May manufacturing production fell -1.0% m/m, weaker than expectations of -0.1% m/m and the biggest decline in 10 months. ECB Executive Board member Isabel Schnabel said, 'The bar for another ECB interest rate cut is very high, and there would only be a case for another rate cut if we saw signs of a material deviation of inflation from our target over the medium term. And at the moment, I see no signs of that.' Swaps are discounting the chances at 2% for a -25 bp rate cut by the ECB at the July 24 policy meeting. US Stock Movers Chip makers are sliding today, weighing on the broader market. Intel (INTC) is down more than -2%. Also, Microchip Technology (MCHP), Advanced Micro Devices (AMD), Marvell Technology (MRVL), ARM Holdings Plc (ARM), and NXP Semiconductors NV (NXPI) are down more than -1%. Capricor Therapeutics (CAPR) is down more than -40% after the FDA declined to approve the company's treatment candidate aimed at treating a disease of the heart muscle associated with Duchenne muscular dystrophy. Civista Bancshares (CIVB) is down more than -10% after announcing the pricing of an underwritten public offering of 3.29 million shares of common stock at a price of $21.25 per share, below Thursday's closing price of $24.82. Albemarle (ALB) is down more than -4% to lead losers in the S&P 500 after UBS downgraded the stock to sell from neutral with a price target of $57. Oscar Health (OSCR) is down more than -4% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $10. Illumina (ILMN) is down more than -2% after Scotiabank downgraded the stock to sector perform from sector outperform. Northern Trust Corp (NTRS) is down more than -1% after Keefe, Bruyette & Woods downgraded the stock to underperform from market perform with a price target of $120. Drone-related companies are climbing today after US Defense Secretary Pete Hegseth issued orders to ramp up production and deployment of drones. Red Cat Holdings (RCAT) is up more than +21%, and AeroVironment (AVAV) and Kratos Defense & Security Solutions (KTOS) are up more than +7%. Cryptocurrency-exposed stocks are higher as the price of Bitcoin (^BTCUSD) rose more than +2% to a new record high. MicroStrategy (MSTR) is up more than +3%. Also, MARA Holdings (MARA) and Riot Platforms (RIOT) are up more than +1%. Levy Strauss & Co (LEVI) is up more than +7% after reporting Q2 net revenue of $1.45 billion, stronger than the consensus of $1.37 billion, and raising guidance on its full-year net revenue forecast to up +1% to +2% from a previous forecast of down -1% to -2%. Performance Food Group (PFGC) is up more than +4% on reports that the company has attracted takeover interest from US Foods Holding Corp. Medtronic Plc (MDT) is up more than +1% after the US government proposed national coverage for renal denervation to treat patients with uncontrolled hypertension, which several analysts deemed as positive for the company's medical products. Visteon Corp (VC) is up more than +1% after Goldman Sachs upgraded the stock to buy from neutral with a price target of $120. Earnings Reports (7/11/2025) Hingham Institution For Saving (HIFS), Lifezone Metals Ltd (LZM), PACS Group Inc (PACS), Smith-Midland Corp (SMID), Unity Bancorp Inc (UNTY). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
3 days ago
- Business
- Yahoo
Stocks Pressured by US Trade Policy Uncertainty
The S&P 500 Index ($SPX) (SPY) today is down -0.06%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.08%. September E-mini S&P futures (ESU25) are down -0.08%, and September E-mini Nasdaq futures (NQU25) are down -0.11%. Stocks today are mostly lower. Stocks are pressured today due to uncertainty about President Trump's trade policies. On Wednesday, President Trump issued a new set of tariff demands on several countries, including a 50% tariff rate on Brazil. Mr. Trump also confirmed that the US will begin levying a 50% tariff on copper imports, effective August 1. This Underdog AI Stock Just Got a New Street-High Price Target 'The Most Patriotic Thing You Can Do Is Not Pay the IRS' Says Grant Cardone as OBBBA Signed into Law — Here's How Much You'll Save Texas Just Passed Quantum Computing Legislation. How Should You Play IONQ Stock Here? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Mr. Trump also stated that drug companies could face tariffs as high as 200% on imports if they don't relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India's goods for their participation in BRICS, a group of developing nations he claimed were "set up to hurt" the US. Strength in airline stocks is positive for the broader market, with Delta Air Lines jumping more than +9% after restoring its full-year guidance. Stocks also found support after today's US weekly initial unemployment report showed jobless claims unexpectedly fell to an 8-week low, a sign that the US labor market remains strong. US weekly initial unemployment claims unexpectedly fell -5,000 to an 8-week low of 227,000, showing a stronger labor market than expectations of an increase to 235,000. However, weekly continuing claims rose +10,000 to a 3.5-year high of 1.965 million, right on expectations and a sign that out-of-work Americans are finding it difficult to secure a new job. Another hurdle for stocks is the upcoming earnings season, which begins this week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research. Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting. Overseas stock markets today are mixed. The Euro Stoxx 50 climbed to a 3.5-month high and is up +0.10%. China's Shanghai Composite rallied to a 9-month high and closed up +0.48%. Japan's Nikkei Stock 225 closed down -0.44%. Interest Rates September 10-year T-notes (ZNU25) today are down -3 ticks. The 10-year T-note yield is up +1.6 bp to 4.348%. T-notes are under pressure today after US weekly jobless claims unexpectedly fell to an 8-week low, a sign of labor market strength that is hawkish for Fed policy. T-notes are also weighed down by concern that US tariff increases could boost inflation and prevent the Fed from cutting interest rates. In addition, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds on Thursday to conclude this week's auction slate of $119 billion of T-notes and T-bonds. European government bond yields today are mixed. The 10-year German bund yield is up +0.3 bp at 2.675%. The 10-year UK gilt yield is down -2.2 bp to 4.589%. Italy May industrial production fell -0.7% m/m, weaker than expectations of -0.2% m/m. Swaps are discounting the chances at 3% for a -25 bp rate cut by the ECB at the July 24 policy meeting. US Stock Movers Airline stocks are climbing today, led by a +9% jump in Delta Air Lines (DAL) after the company restored its full-year guidance and projects full-year adjusted EPS of $5.25-$6.25, the midpoint well above the consensus of $5.35. American Airlines Group (AAL) and United Airlines Holdings (UAL) are up more than +7%, Alaska Air Group (ALK) is up more than +3%, and Southwest Airlines (LUV) is up more than +2%. MP Materials (MP) is up more than +47% after the company struck a multi-billion-dollar public-private deal with the US Department of Defense to build a new magnet plant and expand rare earth capabilities. WK Kellogg (KLG) is up more than +30% after Ferrero International SA acquired the company for about $3.1 billion or $23 per share. Advance Micro Devices (AMD) is up more than +3% to lead gainers in the Nasdaq 100 after HSBC upgraded the stock to buy from hold with a price target of $200. Trex Co (TREX) is up more than +3% after Baird upgraded the stock to outperform from neutral with a price target of $75. Circle Internet Group (CRCL) is up more than +3% after Ant Group said it is adding Circle's stablecoin to its blockchain platform. Huntington Ingalls Industries (HII) is up more than +1% after TD Cowen upgraded the stock to buy from hold with a price target of $300. Helen of Troy (HELE) is down more than -28% after reporting Q1 net sales of $371.7 million, weaker than the consensus of $396.5 million. Methode Electronics (MEI) is down more than -19% after reporting a Q4 loss per share of -77 cents versus a loss of -23 cents y/y. Autodesk (ADSK) is down more than -7% to lead losers in the Nasdaq 100 on reports that the company is weighing the acquisition of PTC Inc. Conagra Brands (CAG) is down more than -6% to lead packaged food makers lower after reporting Q4 net sales of $2.78 billion, below the consensus of $2.84 billion. The Campbell's Company (CPB) is down more than-3%, J M Smucker (SJM) is down more than -2%, and General Mills (GIS) is down more than -1%. Workday (WDAY) is down more than -3% after Piper Sandler downgraded the stock to underweight from neutral with a price target of $235. Crowdstrike Holdings (CRWD) is down more than -1% after CFRA downgraded the stock to hold from buy. Earnings Reports (7/10/2025) Byrna Technologies Inc (BYRN), Conagra Brands Inc (CAG), Delta Air Lines Inc (DAL), E2open Parent Holdings Inc (ETWO), Frequency Electronics Inc (FEIM), Helen of Troy Ltd (HELE), PriceSmart Inc (PSMT), Simply Good Foods Co/The (SMPL), WD-40 Co (WDFC). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
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Stocks Stabilize on Trade Talk Optimism
The S&P 500 Index ($SPX) (SPY) today is up +0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.14%. September E-mini S&P futures (ESU25) are up +0.10%, and September E-mini Nasdaq futures (NQU25) are up +0.15%. Stocks have stabilized today following Monday's retreat as recent tariff announcements suggested there is room for further negotiations. Late Monday, President Trump said he's still open to additional trade talks and that the August 1 deadline for higher tariff rates was 'not 100% firm,' adding, 'we're not going to be unfair' and would look favorably on countries continuing to offer additional concessions. Monday afternoon, President Trump announced plans to hike tariffs on several countries, including Japan, South Korea, Laos, South Africa, Myanmar, and Malaysia, with rates ranging from 25% to 40%, effective August 1. This Analyst Just Raised His Broadcom Stock Price Target by 70%. Should You Buy AVGO Now? Why Alibaba Stock Looks Like a Screaming Buy After Falling 27% From Its 2025 Highs 2 ETFs Offering Juicy Dividend Yields of 20% or Higher Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Higher bond yields are limiting gains in stocks as the 10-year T-note yield is up +5 bp at a 2-week high of 4.43%. Bond yields are climbing on the concern that higher tariffs could boost inflation and prevent the Fed from cutting interest rates. Another hurdle for stocks is the upcoming earnings season, which begins this week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research. This week's market focus will mainly be on new tariff and trade deal news ahead of Wednesday's deadline. On Wednesday, the minutes of the June 17-18 FOMC meeting will be released. On Thursday, weekly initial unemployment claims will be released. Also, on Thursday, St. Louis Fed President Musalem and San Francisco Fed President Daly speak on the US economy and monetary policy. Federal funds futures prices are discounting the chances at 5% for a -25 bp rate cut at the July 29-30 FOMC meeting. Overseas stock markets today are higher. The Euro Stoxx 50 climbed to a 3-1/2 week high and is up +0.09%. China's Shanghai Composite rallied to an 8-month high and closed up +0.70%. Japan's Nikkei Stock 225 closed up +0.26%. Interest Rates September 10-year T-notes (ZNU25) today are down -6 ticks. The 10-year T-note yield is up +4.8 bp to 4.427%. Sep T-notes fell to a 2-week low today, and the 10-year T-note yield climbed to a 2-week high of 4.431%. T-note prices are being undercut by Monday's announcement of US tariff increases on several countries, including Japan and South Korea, which fueled concerns that the higher tariffs could boost inflation and prevent the Fed from cutting interest rates. T-note prices are also being undercut by rising inflation expectations as the 10-year breakeven inflation expectations rate today rose to a 6-week high of 2.378%. Supply pressures are also negative for T-notes as the Treasury will auction $119 billion of T-notes and T-bonds this week, beginning with today's $58 billion auction of 3-year T-notes. T-note prices are also being undercut by today's weakness in European government bond prices. European government bond yields today are moving higher. The 10-year German bund yield climbed to a 1-month high of 2.707% and is up +4.5 bp to 2.688%. The 10-year UK gilt yield rose to a 1-month high of 4.654% and is up +6.1 bp to 4.647%. German trade news was weaker than expected after May exports fell -1.4% m/m, weaker than expectations of -0.5% m/m. Also, May imports fell -3.8% m/m, weaker than expectations of -1.7% m/m and the biggest decline in a year. Swaps are discounting the chances at 5% for a -25 bp rate cut by the ECB at the July 24 policy meeting. US Stock Movers Chip stocks are climbing today to give underlying support to the broader market. GlobalFoundries (GFS) and Microchip Technology (MCHP) are up more than +2%. Also, Advanced Micro Devices (AMD), Micron Technology (MU), ON Semiconductor Corp (ON), NXP Semiconductors NV (NXPI), Analog Devices (ADI), and Intel (INTC) are up more than +1%. AppLovin Corp (APP) is up more than +3% to lead gainers in the Nasdaq 100 after Scotiabank initiated coverage on the stock with a recommendation of outperform and a price target of $430. Stanley Black & Decker (SWK) is up more than +2% after Wolfe Research upgraded the stock to peer perform from underperform. Parsons Corp (PSN) is up more than +2% after Raymond James upgraded the stock to strong buy from market perform with a price target of $90. Merit Medical Systems (MMSI) is up more than +2% after reporting preliminary Q2 revenue of $380 million to $384 million, stronger than the consensus of $372.3 million. Vertiv Holdings (VRT) is up more than +2% after Melius Research LLC upgraded the stock to buy from hold with a price target of $165. Capital One Financial (COF) is up more than +1% after TD Cowen upgraded the stock to buy from hold with a price target of $258. Datadog (DDOG) is down more than -4% to lead losers in the Nasdaq 100 after Guggenheim Securities downgraded the stock to sell from neutral with a price target of $105. Circle Internet Group (CRCL) is down more than -4% after Mizuho Securities initiated coverage of the stock with a recommendation of sell and a price target of $85. Bank of America (BAC) is down more than -1% after HSBC downgraded the stock to hold from buy. Ciena (CIEN) is down more than -1% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $70. JPMorgan Chase (JPM) is down more than -1% after HSBC downgraded the stock to reduce from hold. Earnings Reports (7/8/2025) Aehr Test Systems (AEHR), Kura Sushi USA Inc (KRUS), Penguin Solutions Inc (PENG). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Stocks Pressured Ahead of Wednesday's Tariff Deadline
The S&P 500 Index ($SPX) (SPY) today is down -0.56%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.54%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.70%. September E-mini S&P futures (ESU25) are down -0.54%, and September E-mini Nasdaq futures (NQU25) are down -0.71%. Stocks are under pressure today as trade tensions are back in the forefront, with US trading partners rushing to finalize trade deals with the Trump administration ahead of Wednesday's deadline. On Sunday, President Trump pledged to announce unilateral tariff rates on dozens of countries in the coming days. Mr. Trump also stated that countries aligning with the anti-American policies of the BRICS group of nations (Brazil, Russia, India, China, and South Africa) will face an additional 10% tariff. Chevron Stock's 4.6% Dividend Yield and 1.67% One Month Short Put Yield Make CVX a Buy Tariff Dealine, Fed Minutes and Other Key Thing to Watch this Week SoFi Stock Is Betting on Crypto Again. How Should You Play SOFI Stock Here? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Stock losses are limited after Treasury Secretary Bessent announced that August 1 will be the new effective date for higher tariffs, and some countries may be offered a three-week extension to negotiate. Also, the European Union (EU) and the US are moving closer to a trade agreement following a Sunday call between European Commission President Ursula Von der Leyen and President Trump, according to an EU commission spokesman. Stocks also have support after President Trump last Friday signed the reconciliation bill into law. The fiscal stimulus from the bill will be a net positive for the US economy, but the higher deficit is negative as it increases the risk of an eventual debt crisis in the United States. Tesla is down more than -6% to lead mega-cap technology stocks lower after President Trump criticized Elon Musk's bid to start a new political party, intensifying concerns about implications for Tesla and other companies led by Musk. Another hurdle for stocks is the upcoming earnings season, which begins this week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the 11 S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research. The focus of the markets this week will be on any new tariff news and if US trading partners sign trade deals ahead of Wednesday's deadline. On Wednesday, the minutes of the June 17-18 FOMC meeting will be released. On Thursday, weekly initial unemployment claims will be released. Also, on Thursday, St. Louis Fed President Musalem and San Francisco Fed President Daly speak on the US economy and monetary policy. Federal funds futures prices are discounting the chances at 5% for a -25 bp rate cut at the July 29-30 FOMC meeting. Overseas stock markets today are mixed. The Euro Stoxx 50 is up +0.91%. China's Shanghai Composite closed up +0.02%. Japan's Nikkei Stock 225 closed down -0.56%. Interest Rates September 10-year T-notes (ZNU25) today are down -6 ticks. The 10-year T-note yield is up +2.8 bp to 4.373%. T-notes are being undercut after President Trump last Friday signed his tax and spending plan into law, which will boost the US budget deficit by a total of $3.4 trillion over the next 10 years, according to the CBO, thus requiring the Treasury to sell more debt to fund the deficit. Supply pressures are also weighing on T-notes as the Treasury will auction $119 billion of T-notes and T-bonds this week, beginning with Tuesday's $58 billion auction of 3-year T-notes. T-note prices are also seeing negative carryover today from a decline in European government bond prices. European government bond yields today are moving higher. The 10-year German bund yield is up +3.5 bp to 2.642%. The 10-year UK gilt yield is up +1.6 bp to 4.570%. The Eurozone July Sentix investor confidence index rose +4.3 to a nearly 3.50-year high of 4.5, stronger than expectations of 1.0. Eurozone May retail sales fell -0.7% m/m, weaker than expectations of -0.6% m/m and the biggest decrease in 1.75 years. German May industrial production unexpectedly rose +1.2% m/m, stronger than expectations of a -0.2% m/m decline. Swaps are discounting the chances at 6% for a -25 bp rate cut by the ECB at the July 24 policy meeting. US Stock Movers Tesla (TSLA) is down more than -7% to lead losers in the S&P 500 and Nasdaq 100 after CEO Musk said he is forming a new political party, which sparked backlash from President Trump and raised concerns about the implications for Mr. Musk's companies. Chip stocks are under pressure today, weighing on the broader market. Marvell Technology (MRVL) and ARM Holdings Plc (ARM) are down more than -3%. Also, Advanced Micro Devices (AMD), Micron Technology (MU), and Qualcomm (QCOM) are down more than -2%. In addition, Intel (INTC), GlobalFoundries (GFS), KLA Corp (KLAC), and ON Semiconductor Corp (ON) are down more than -1%. Webull (BULL) is down more than -11% after securing a standby equity purchase agreement with a fund managed by Yorkville Partners that allows Webull to issue $1 billion of Class A shares at a 2.5% discount to market price over the next three years. Stellantis NV (STLA) is down more than -3% after Bank of America Global Research downgraded the stock to neutral from buy, saying it expects to see a "very weak" first-half report on July 29. Travelers Cos (TRV) is down more than -1% to lead losers in the Dow Jones Industrials after Barclays downgraded the stock to equal weight from overweight. CrowdStrike Holdings (CRWD) is down more than -1% after Piper Sandler downgraded the stock to neutral from overweight. MGM Resorts International (MGM) is down more than -1% after Goldman Sachs initiated coverage on the stock with a recommendation of sell and a price target of $34. WNS Holdings Ltd (WNS) is up more than +14% after Capgemini SE agreed to purchase the company for $3.3 billion or $76.50 per share. Phibro Animal Health Corp (PAHC) is up more than +8% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $35. Tractor Supply Co (TSCO) is up more than +3% after Bloomberg Second Measure reported sales for the company rose +4.3% in the fiscal quarter ended June 28. Geo Group (GEO) and CoreCivic (CXW) are up more than +2% as the approval of President Trump's tax and spending bill will add billions of dollars for immigrant detention centers. Public Service Enterprise Group (PEG) is up more than +1% after UBS upgraded the stock to buy from neutral with a price target of $97. GE Vernova (GEV) is up more than +1% after UBS initiated coverage of the stock with a recommendation of buy with a price target of $614. Earnings Reports (7/7/2025) None. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. 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