Stock market today: Dow, S&P 500, Nasdaq steady as Trump's deadline delay gives hope of tr

Stock market today: Dow, S&P 500, Nasdaq steady as Trump’s deadline delay gives hope of tr

July 8, 2025

LIVE

Updated 11 mins ago

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) hovered near the flatline, while the Dow Jones Industrial Average (^DJI) fell 0.3%. The tech-heavy Nasdaq Composite (^IXIC) edged up 0.1%, on the heels of a losing start to the week for the major gauges.

Stocks are holding steady 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.

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.

LIVE 11 updates

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.
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.

Terms and Privacy Policy

RECENT PRESS RELEASES

Silver prices outlook: UBS updates its price targets By Investing.com

Wilmington moves to limit fossil fuel businesses from its investment portfolio

Alphabet stock rating reiterated at Market Outperform by JMP By Investing.com

OneMain stock rating reiterated at Market Outperform by JMP analyst By Investing.com

Money managers stick with stocks amid stagflation buzz

Citizens JMP reiterates Market Outperform rating on Artivion stock By Investing.com