While the S&P 500 and Nasdaq hover near flatline, Intel climbs 4.1% and Treasury yields rise; Trump’s new tariff regime fuels market caution.
New York, July 8, 2025 – Wall Street traded on an uncertain note Tuesday morning as investors reacted cautiously to fresh trade tensions following US President Donald Trump’s announcement of 25% tariffs on Japanese and South Korean imports.
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As of 11:13 AM Eastern Time, the S&P 500 was marginally up by less than 0.1%, the Dow Jones Industrial Average dipped 0.2%, and the Nasdaq Composite edged 0.1% higher. Earlier at 9:56 AM, the S&P and Dow had also shown similar mixed readings.
📊 Bond Yields and Trade Moves
In the bond market, the 10-year US Treasury yield rose to 4.43%, up from 4.39% late Monday, reflecting investor uncertainty over the impact of new tariffs.
President Trump issued a series of open letters on Truth Social, cautioning targeted nations not to retaliate or face steeper duties. Tariffs on Japan and South Korea took effect Monday, while duties on a dozen other countries are slated for August 1. So far, only Britain and Vietnam have signed revised trade deals with the US.
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📈 Gainers and Losers
- Intel surged 4.1%, leading the tech sector.
- Eli Lilly added 1.5% on fresh pharmaceutical optimism.
- Tesla gained 1.5%, Nvidia rose 0.5%, while Apple remained flat.
- Amazon fell 0.2% as it kicked off its Prime Day event.
- JPMorgan and Bank of America each declined 1.9%, reflecting pressure on the financial sector amid tariff uncertainty.
💰 Gold and Precious Metals
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Gold prices slipped amid trade deal hopes.
- Spot gold dropped 0.4% to $3,322.93/oz
- US gold futures fell 0.3% to $3,332.30/oz
- Silver dipped 0.5% to $36.57/oz,
- Platinum dropped 0.8% to $1,359.97,
- Palladium eased 0.2% to $1,108.77
🛢️ Crude Oil Pullback
Oil prices also saw a minor decline following a 2% surge on Monday.
- Brent crude down 0.1% at $69.48/barrel
- WTI crude slipped 0.3% to $67.72/barrel
💬 Market Outlook
With new trade talks expected in the coming weeks, and tariff deadlines looming, investors are keeping a close eye on geopolitical developments. As volatility simmers, earnings season and inflation data later this week may influence next moves.
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