Market Snapshot for Tuesday 7-8-2025
Dow Jones – 44,240.76 (-0.37%)
NASDAQ – 20,418.46 (+0.029%)
S&P 500 – 6,225.52 (-0.07%)
Market Performance
U.S. stocks were mostly unchanged on Tuesday as investors weighed President Trump’s threat of steep tariffs on major trading partners against his decision to delay the return of broad “Liberation Day” duties by three weeks.
The S&P 500 (^GSPC) hovered near break-even, while the Dow Jones Industrial Average (^DJI) slipped about 0.3% in recent trading. Meanwhile, the tech-focused Nasdaq Composite (^IXIC) ticked slightly higher, recovering from a weak start to the week.
Markets appeared cautious as they tried to make sense of Trump’s shifting trade stance. The president extended the deadline for reinstating “reciprocal” tariff rates from July 9 to August 1, effectively giving nations additional time to strike trade agreements with the U.S.
Overnight, global markets reflected a similar divide—Asian stocks mostly advanced, while European markets faced pressure.
Economic Takeaways –
- On Tuesday morning, Trump said there would be no extension beyond the Aug. 1 deadline, when countries are expected to begin paying tariffs.
- Copper futures surged Tuesday after President Trump said he would impose a 50% tariff on imports to the US. Copper futures at one point soared by over 10%.
- The One Big Beautiful Bill Act introduces several key updates that impact U.S. homeowners. The law permanently maintains the $750,000 cap on the mortgage amount eligible for the mortgage interest deduction and brings back a provision allowing homeowners to deduct mortgage insurance premiums as interest—a benefit that applies to millions of property owners. Additionally, the state and local tax (SALT) deduction has been increased fourfold, providing significant relief for homeowners in states with high property taxes.
- The yield on the 10-year Treasury note rose two basis points to 4.41%—its highest level since June 20—amid lingering inflation concerns linked to trade and last week’s strong jobs data.
- Rate cut hopes continue to fade: the CME FedWatch Tool shows less than a 5% chance of a July cut and 66% odds of at least one cut by September.
- The U.S. dollar is strengthening, gaining 0.5% against a trade-weighted currency basket.
- Tuesday’s NFIB small business sentiment index showed a modest dip in confidence, as owners adopted a more cautious stance on sales and hiring.
- Goldman Sachs (GS) raised its year-end S&P 500 target to 6,600 late Monday, up from a prior estimate of 6,100.
Gold –
- Gold slipped over 1% on trade optimism.
- Data released Tuesday by the World Gold Council (WGC) shows that physically backed gold ETFs saw their largest six-month inflow since early 2020.
Oil –
- WTI crude oil futures rose 0.6% to settle at $68.30 per barrel, hovering near 2-week highs.
- The EIA trimmed its forecast for 2025 U.S. crude oil output. The U.S. to produce less oil this year than previously expected amid declining prices.
Crypto –
- The price of Bitcoin continued to settle under $109,000.
- Sequans Communications SA (NYSE: SQNS) shares surged 44.8% after successfully completing its previously announced private placement of debt and equity, raising $384 million to support a new bitcoin treasury strategy.
- Trump Media & Technology Group (DJT), the Florida-based company behind the Truth Social platform, announced Tuesday that it has submitted a filing with the Securities and Exchange Commission to launch the “Crypto Blue Chip ETF” later this year.
Boeing’s Deliveries Exceed Expectations as Turnaround Gains Momentum
Boeing (BA) reported second-quarter deliveries on Tuesday that surpassed analysts’ forecasts, signaling continued progress in the company’s turnaround under its new CEO.
The commercial planes segment delivered 150 aircraft during the quarter, a significant increase from 92 in the same period last year and above the 129 deliveries analysts had predicted, according to Visible Alpha estimates. Among these deliveries, 104 were Boeing 737 jets, up from 70 a year earlier when production was hampered by safety investigations and production constraints following the January 2024 Alaska Airlines (ALK) incident, in which a door plug detached midflight.
In Boeing’s defense segment, the company delivered 36 helicopters and jets, exceeding analyst expectations by four and increasing from 28 the previous year. Boeing plans to release its full second-quarter financial results on July 29. Shares of Boeing have risen about 24% in 2025 so far.
President Trump: A Letter Means a Deal
Markets and economic watchers faced another day of Trump-driven trade turbulence on Tuesday, marked by more tariff letters and growing skepticism that the long-anticipated trade deals would come together quickly.
President Trump started the week promising a combination of “Letters, and/or Deals,” but his tone shifted sharply late Monday and Tuesday as he characterized the letters and announced tariff rates unilaterally—effectively treating them as deals, signaling the challenges in negotiations with key trading partners.
“We are probably two days off from sending them a letter,” he said Tuesday afternoon during a Cabinet meeting, referring to the closely watched talks with the EU, adding for reporters, “I just want you to know a letter means a deal.”
He described the negotiations as “too time-consuming” and asserted that “the deals are mostly my deal to them,” while maintaining that he could still forge agreements, though they might take years.
These remarks followed a social media post from Trump promising more letters “today, tomorrow, and for the next short period of time,” while emphasizing the firmness of his August 1 deadline, which he enforced Monday via executive order.
“No extensions will be granted,” he wrote on Truth Social.
This rhetoric comes after Trump’s unilateral tariff announcements on Monday affecting 14 countries, including a pledge of 25% duties on South Korea and Japan, with some rates reaching as high as 40% for other nations—tariff levels that closely mirror those initially promised in April and which rattled markets at that time.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
- QuantumSpace Corp. (QS) moved higher 16.69%
- Progyny, Inc. (PGNY) soared by 13.15%
- Newegg Commerce, Inc. (NEGG) exploded 12.91%
- SoundHound AI, Inc. (SOUN) surged 11.69%
- SM Energy Company (SM) rose 9.83%
- The Chemours Company (CC) moved up 9.74%
- Viking Therapeutics, Inc. (VKTX) rose 9.74%
- Civitas Resources, Inc. (CIVI) spiked 9.16%
- Moderna, Inc. (MRNA) moved up 8.83%
- Recursion Pharmaceuticals (RXRX) surged 8.72%
Top Losers
The top US stock losers today, based on percentage change included:
- Sunrun, Inc. (SUN) moved lower 11.43%
- Hecla Mining Company (HL) moved down 9.25%
- Fair Isaac Corp. (FICO) sank 8.91%
- SSR Mining, Inc. (SSRM) fell 8.70%
- IAMGOLD Corp. (IAG) was down 8.13%
- First Majestic Silver Corp. (AG) sank 8.06%
- Apogee Therapeutics, Inc. (APGE) dragged 7.21%
- Coeur Mining, Inc. (CDE) moved down 6.85%
- First Solar, Inc. (FSLR) slumped 6.54%
- The Chef’s Warehouse, Inc. (CHEF) dragged 6.40%
Notables
- Major pharmaceutical stocks, including Pfizer (PFE), Amgen (AMGN), and AbbVie (ABBV), pared earlier gains after Trump said he plans to unveil a new pharmaceutical tariff program “very soon.”
- Oracle (ORCL) shares hit a record-high closing price Tuesday after Jefferies raised its price target, pointing to a recent cloud deal expected to generate $30 billion a year in revenue.
- Intel (INTC) cut over 500 jobs in Oregon as part of the company’s layoff plan.
- Uber (UBER) shares briefly touched another intraday record on Tuesday before retreating.
- Tesla (TSLA) bounced back after sliding 7% Monday. The drop followed news of CEO Elon Musk’s announcement of a new political party and renewed friction with former President Trump. Adding to the pressure, last week’s budget bill passed by Congress may undercut EV tax incentives, potentially impacting Tesla and peers. Investors had previously responded positively when Musk shifted his focus away from Washington and back to company operations. Despite today’s rebound, shares remain down about 15% since early June.
- Core Scientific (CORZ) edged up after plunging 17% Monday on news of its planned acquisition by CoreWeave (CRWV), whose shares also fell nearly 4%. While the $9 billion all-stock deal had been telegraphed through media reports over the past two weeks, investors appeared underwhelmed by the transaction’s structure.
- Nvidia (NVDA) gained after slipping Monday, supported by a Citi analyst’s upgrade, raising the price target to $190 from $180. The firm sees the total data-center AI chip market reaching $563 billion by 2028, according to MarketWatch. The broader “Magnificent Seven” tech names also trended higher, offering early support to major indexes.
- Circle Internet Group (CRCL) fell after Mizuho initiated coverage with an Underperform rating and an $85 price target, citing a potential 25%–30% downside to 2027 revenue consensus estimates. Meanwhile, Bank of America (BAC) dropped 2.8% after HSBC downgraded the stock from Buy to Hold.
- Solar stocks took a hit, with Sunrun (RUN), Enphase Energy (ENPH), and First Solar (FSLR) down. The declines followed renewed anti-green energy subsidy rhetoric from the White House and ongoing pressure from elevated interest rates.Top of Form
- Amazon (AMZN) shares slid just over 1% as the company’s Prime Day event kicked off. The e-commerce giant has extended the event to four days this year.
- Meta (META) has recruited Ruoming Pang, the leader of Apple’s (AAPL) artificial intelligence models team.
What to Watch Ahead
Delta’s (DAL) results on Thursday signal the return of earnings season.
July 9: FOMC minutes.
July 10: Expected earnings from Conagra (CAG), Delta (DAL), and Levi Strauss (LEVI).
July 11: No major earnings or data expected.
Pump Radar
Stock Alerts