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Yahoo
6 days ago
- Business
- Yahoo
Stocks Mixed as T-Note Yields Rise
The S&P 500 Index ($SPX) (SPY) is unchanged, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.51%. September E-mini S&P futures (ESU25) are up +0.02%, and September E-mini Nasdaq futures (NQU25) are up +0.57%. Stock indexes rallied early the session due to a favorable core CPI print of +0.2% m/m, but then faded as T-note prices fell and as expectations for a Fed rate cut in September were trimmed to 58% from 65%. The 10-year T-note yield is currently up +4.8 bp and the 30-year T-bond yield rose back above the 5% mark for the first time in 6 weeks. Palantir Just Launched Warp Speed for Warships. Does That Make PLTR Stock a Buy? This Analyst Just Doubled His Price Target on AMD Stock How High Can Nvidia Stock Go as Jensen Huang Heads to China? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. The Dow was undercut by negative breadth with 24 of the 30 stocks showing declines, led by Merck (MRK) and American Express (AXP). Today's CPI report received some favorable initial media attention due to the slightly weaker-than-expected +0.2% m/m increase in the core CPI, which was driven partly by lower car prices. However, there were some scattered signs of upside pressure from tariffs, and that pressure is expected to increase in the coming months. Also, both the headline and core CPI reports on a year-over-year basis rose from May. Specifically, the June US CPI rose +0.3% m/m, which was in line with market expectations, while the year-over-year figure of +2.7% was slightly worse than expectations of +2.6% and was up from May's +2.4%. The June US core CPI rose +0.2% m/m, which was slightly better than expectations of +0.3%. On a year-over-year basis, the June US core CPI was in line with expectations at +2.9% y/y but rose from May's +2.8%. Expectations for a -25 bp Fed rate cut were little changed for the July FOMC meeting but were trimmed to 58% for the September meeting from 65% on Tuesday. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 3% at the July 29-30 FOMC meeting and at 58% at the following meeting on Sep 16-17. There was some positive trade news today after Treasury Secretary Bessent said that US-China trade talks are in a 'very good place' and that the US-China deadline is flexible and told market participants 'not to worry about August 12.' Mr. Bessent confirmed that the Trump administration has told Nvidia that a license for the sale of its advanced H20 GPU chips to Chinese firms will be granted and is 'all part of a mosaic' in the US-China negotiations. He also said he hopes to meet with Chinese Vice Premier He Lifeng in August. Stocks have been undercut by recent US trade news. Over the weekend, President Trump announced that the US will impose 30% tariffs on US imports from the European Union and Mexico, effective August 1. Mr. Trump said last Thursday that a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. Last week, Mr. Trump imposed a 50% tariff on copper imports, which will include semi-finished goods, and 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. Today's July Empire manufacturing index report of 5.5 was stronger than expectations of -9.2, and was up from June's level of -16.0. The price of Bitcoin (^BTSUSD) is down -3% today due to some long liquidation pressure following the recent rally on hopes for more favorable crypto regulation from Washington. The US House Committee on Ways and Means plans to hold an oversight subcommittee hearing on July 16 entitled, 'Making America the Crypto Capital of the World,' which may lead to more crypto-friendly regulations. The markets this week will focus on any fresh news on tariffs or trade deals. On Wednesday, June PPI final demand is expected to ease to +2.5% y/y from +2.6% in May, and June core PPI is expected to ease to +2.7% y/y from +3.0% y/y in May. Also, on Wednesday, June manufacturing production is expected to fall by -0.1% m/m. Finally, on Wednesday, the Fed will release its Beige Book. On Thursday, June retail sales are expected to climb by +0.1% m/m and +0.3% ex-autos, and weekly initial unemployment claims are expected to climb by +7,000 to 234,000. Also, on Thursday, the July Philadelphia Fed business outlook survey is expected to climb +3.0 points to -1.0, and the July NAHB housing market index is expected to rise +1 to 33. On Friday, June housing starts are expected to climb +3.3% m/m to 1.298 million, and June building permits are expected to slip -0.6% m/m to 1.386 million. Also, the University of Michigan's US July consumer sentiment index is expected to climb +0.8 to 61.5. Earnings season began in earnest this week with a focus on big bank earnings results. Key earnings reports today include Blackrock, Citigroup, JP Morgan, NY Bank of Mellon, Wells Fargo, and State Street. Key earnings reports Wednesday include Bank of America, Goldman Sachs, Morgan Stanley, and United Airlines. Key reports Thursday include PepsiCorp, Abbott, US Bancorp, GE Fifth Third, and GE. Key reports Friday include Schwab and American Express. The consensus is for the S&P 500 companies to show Q2 earnings growth of +2.8% y/y, the smallest increase in two years, according to Bloomberg Intelligence. 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. Overseas stock markets today are mixed. The Euro Stoxx 50 is down -0.31%. China's Shanghai Composite closed down -0.42%. Japan's Nikkei Stock 225 closed up +0.55%. Interest Rates September 10-year T-notes (ZNU25) today are down -13.5 ticks. The 10-year T-note yield is up by +4.8 bp at 4.481%. T-note prices being undercut by reduced expectations for Fed easing, as the market cut expectations for a rate cut at the September meeting to 55% from 65%. Also, the 10-year breakeven expectations rate today rose to a 4.75-month high and is currently up +1.5 bp at 2.419%. Also on the bearish side for US bond prices, the Trump administration's campaign against Fed Chair Powell continued today, fueling concern among bond vigilantes about the Fed's independence and the possibility of politically driven interest rate cuts that could be inflationary. US Treasury Secretary Bessent said that Fed Chair Powell should step down as a Fed Governor when his term as Chairman ends in May 2026, in line with tradition. Mr. Powell's term as a Fed Governor lasts until January 2028, well beyond the expiration of his term as Chairman in mid-May-2026. Mr. Bessent also stated that he is part of a formal process that has already begun to decide who President Trump will appoint as the new Chairman when Mr. Powell's term ends in May 2026, or earlier 'for cause,' based on attacks on how Mr. Powell has handled the renovation of the Fed's building in Washington. European government bond yields today are mixed. The 10-year German bund yield is down -1.9 bp at 2.710%. The 10-year UK gilt yield is up +2.2 bp at 4.622%. 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 The Magnificent Seven stocks are trading higher today, except for Meta Platforms (META) and Tesla (TSLA). Apple (AAPL) Apple is up more than +1% after news that it reached a $500 million deal to buy rare-earth minerals from Pentagon-backed MP Materials Corp. In Tesla (TSLA) news today, the company opened its first India showroom. Also, Bloomberg reported that Tesla's top sales executive in North America, Troy Jones, has left the company after a 15-year stint. Chip stocks are doing well today after the Trump administration indicated that it will loosen US restrictions on chip sales to China. Advanced Micro Devices (AMD) is up more than +6%, and Nvidia (NVDA) is up more than +4% on the news. Arm Holdings (ARM) is up more than +3%. Cryptocurrency-exposed stocks are mixed today as bitcoin (^BTCUSD) fell -3% on some long liquidation pressure after posting a new record high on Monday. Riot Platforms (RIOT) is down more than -3%, and MicroStrategy (MSTR) is more than -1%, but Coinbase Global (COIN) is up +0.4%. BlackRock (BLK) is down more than -5% after it reported that long-term asset inflows were less than market expectations. JPMorgan Chase (JPM) is down -0.4% after it raised its full-year expense guidance. Copper miners are trading lower today after Morgan Stanley downgraded the sector's prospects due to expectations that 50% tariffs will lead to reduced US demand for copper products. Freeport McMoRan (FCX) is down more than -4%, and Southern Copper (SCCO) is down more than -3%. Earnings Reports (7/15/2025) Albertsons Cos Inc (ACI), Bank of New York Mellon Corp/The (BK), Blackrock Inc (BLK), Citigroup Inc (C), JB Hunt Transport Services Inc (JBHT), JPMorgan Chase & Co (JPM), Omnicom Group Inc (OMC), Pinnacle Financial Partners In (PNFP), State Street Corp (STT), Sun Communities Inc (SUI), Wells Fargo & Co (WFC). 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
7 days ago
- Business
- Yahoo
Latest Tariff Threats Weigh on Stocks
The S&P 500 Index ($SPX) (SPY) today is down -0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.22%. September E-mini S&P futures (ESU25) are down -0.21%, and September E-mini Nasdaq futures (NQU25) are down -0.39%. Stock indexes today are under pressure after President Trump ramped up tariff threats against US trading partners. Over the weekend, President Trump said the US will impose 30% tariffs on goods from the European Union and Mexico, beginning August 1. The markets are still reeling from last Thursday when President Trump said a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. Shopify Stock is a Bargain - How to Make a 3.2% One-Month Yield with SHOP Tariffs, Inflation and Other Key Things to Watch this Week Stocks Set to Open Lower as Trump Ratchets Up Tariff Threats, U.S. Inflation Data and Big Bank Earnings Awaited Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Stocks have been undercut as President Trump 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. Last 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. Hawkish comments today from Cleveland Fed President Beth Hammack weighed on stocks and bonds when she said she wants to see inflation lowered further before she'd support cutting interest rates. She said, "We're not there yet on the inflation side of the Fed's mandate, and I think it's important that we wait and see how all the new policies that have been put forward are going to impact inflation." Trade news from China was better than expected, a positive factor for global economic growth. China June exports rose +5.8% y/y, stronger than expectations of +5.0% y/y. Also, June imports rose +1.1% y/y, stronger than expectations of +0.3% y/y. The price of Bitcoin (^BTSUSD) continues to soar and is up by more than +3% today at a new record high as the US House prepares to consider legislation this week that would advance President Trump's crypto-friendly agenda. The US House Committee on Financial Services said this week 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. The markets this week will focus on any fresh news on tariffs or trade deals. On Tuesday, the US June CPI is expected to strengthen to +1.9% y/y from +1.7% y/y in May, and the June core CPI is expected to strengthen to +2.9% y/y from +2.8% y/y in May. On Wednesday, June PPI final demand is expected to ease to +2.5% y/y from +2.6% in May, and June core PPI is expected to ease to +2.7% y/y form +3.0% y/y in May. Also, on Wednesday, Jun manufacturing production is expected to fall -0.1% y/y. Finally on Wednesday, the Fed will release its Beige Book. On Thursday, June retail sales are expected to climb by +0.1% m/m and +0.3% ex-autos, and weekly initial unemployment claims are expected to climb by +7,000 to 234,000. Also, on Thursday, the Philadelphia Fed business outlook survey is expected to climb +3.0 points to -1.0 and the July NAHB housing market index is expected to rise +1 to 33. On Friday, June housing starts are expected to climb +3.3% m/m to 1.298 million, and June building permits are expected to slip -0.6% m/m to 1.386 million. Also, the University of Michigan US July consumer sentiment index is expected to climb +0.8 to 61.5. Another hurdle for stocks is the upcoming earnings season, which begins in earnest this week with the release of big bank earnings results. 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 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 down -0.72%. China's Shanghai Composite closed up +0.27%. Japan's Nikkei Stock 225 closed down -0.28%. Interest Rates September 10-year T-notes (ZNU25) today are down by -2 ticks. The 10-year T-note yield is up by +1.0 bp to 4.419%. T-note prices are under pressure after President Trump said over the weekend that the US will impose 30% tariffs on goods from the European Union and Mexico, beginning August 1, which could boost inflation and prevent the Fed from cutting interest rates. Rising US inflation expectations are also weighing on T-notes as the 10-year breakeven inflation rate today rose to a 3.5-month high of 2.398%. T-note prices are also being undercut by hawkish comments from Cleveland Fed President Beth Hammack, who said she wants to see inflation lowered further before she'd support cutting interest rates. Finally, negative carryover from a slide in 10-year German bunds to a 3.5-month low today is bearish for T-notes. European government bond yields today are mixed. The 10-year German bund yield rose to a 3.5-month high of 2.739% and is up +1.3 bp at 2.738%. The 10-year UK gilt yield is down -0.6 bp to 4.616%. 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 The weakness in semiconductor chip stocks is weighing on the broader market. Micron Technology (MU) is down more than -5% to lead losers in the Nasdaq 100. Also, ON Semiconductor (ON) and Lam Research (LRCX) are down more than -2%. In addition, Marvell Technology (MRVL), NXP Semiconductors NV (NXPI), Microchip Technology (MCHP), Advanced Micro Devices (AMD), Intel (INTC), KLA Corp (KLAC), Qualcomm (QCOM), and Texas Instruments (TXN) are down more than -1%. Nvidia (NVDA) is down more than -1% to lead losers in the Dow Jones Industrials. Cryptocurrency-exposed stocks are moving higher with the price of Bitcoin (^BTCUSD) up more than +3% to a new record high. MARA Holdings (MARA) is up more than +10%, Riot Platforms (RIOT) is up more than +6%, MicroStrategy (MSTR) is up more than +4%, and Coinbase Global (COIN) is up more than +2%. Waters (WAT) is down more than -9% to lead losers in the S&P 500 after the company said it will combine a Reverse Morris Trust transaction valued at about $17.5 billion with Becton's Biosciences & Diagnostic Solutions, in which Waters' will assume about $4 billion of incremental debt. Best Buy (BBY) is down more than -2% after Piper Sandler downgraded the stock to neutral from overweight. Crowdstrike Holdings (CRWD) is down more than -1% after Morgan Stanley downgraded the stock to equal weight from overweight. Starbucks (SBUX) is down more than -1% after Melius Research LLC initiated coverage on the stock with a recommendation of sell and a price target of $80. Intapp (INTA) is down more than -1% after Barclays downgraded the stock to underweight from equal weight with a price target of $44. Nebius Group NV (NBIS) is up more than +14% after Goldman Sachs initiated coverage of the stock with a recommendation of buy and a price target of $68. Fastenal (FAST) is up more than +4% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 net sales of $2.08 billion, better than the consensus of $2.07 billion. Autodesk (ADSK) is up more than +3% after it said it is allocating its capital to organic investment, targeted and tuck-in acquisitions, and continuing its share repurchase program as its free cash flow grows. Global Payments (GPN) is up by more than +2% after TD Cowen upgraded the stock to buy from hold with a price target of $84. Kenvue (KVUE) is up more than +1% after saying CEO Mongon is leaving the company and that a strategic view of the company's options is underway. Visteon Corp (VC) is up more than +1% after UBS upgraded the stock to buy from neutral with a price target of $142. Earnings Reports (7/14/2025) Equity Bancshares Inc (EQBK), Fastenal Co (FAST), FB Financial Corp (FBK), Immersion Corp (IMMR), Kestra Medical Technologies Ltd (KMTS), Rezolve AI PLC (RZLV), Simulations Plus Inc (SLP). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
11-07-2025
- Business
- Yahoo
Stocks Pressured by Escalation of Trade Tensions
The S&P 500 Index ($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 $120. Nvidia (NVDA) is up more than +1% at a record high to lead gainers in the Dow Jones Industrials after CEO Huang met President Trump at the White House, ahead of Huang's trip to China. Earnings Reports (7/11/2025) Hingham Institution For Saving (HIFS), Lifezone Metals Ltd (LZM), PACS Group Inc (PACS), Smith-Midland Corp (SMID), Unity Bancorp Inc (UNTY). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
11-07-2025
- Business
- Yahoo
Stocks Retreat as President Trump Ramps Up Tariff Threats
The S&P 500 Index ($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 $120. Earnings Reports (7/11/2025) Hingham Institution For Saving (HIFS), Lifezone Metals Ltd (LZM), PACS Group Inc (PACS), Smith-Midland Corp (SMID), Unity Bancorp Inc (UNTY). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
10-07-2025
- Business
- Yahoo
Stocks Pressured by US Trade Policy Uncertainty
The S&P 500 Index ($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
