Investors eye Trump trade deals, tariffs, Amazon Prime day hit by rivals: Live Updates
The Dow, S&P 500 and Nasdaq remain volatile as trade deals and tariffs keep investors in limbo. Amazon’s Prime Day met with fierce competition as Walmart, Costco offer their own deals. Oil inches higher. Death toll climbs in Texas flash floods. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Traders work on the floor of the New York Stock Exchange in New York City. (Reuters)
Stocks finished mixed on Tuesday as investors eyed trade and tariff uncertainty.
The Dow Jones Industrial Average finished down 165.60 points, or 0.37%, while the S&P 500 was down 0.07% and the Nasdaq Composite climbed 0.03%.
President Donald Trump on Tuesday said he will impose a 50% tariff on copper imports and threatened a 200% tariff on pharmaceuticals "very soon."
Earlier in the day, Trump said there will be no change to the Aug. 1 tariff start date.
Tuesday's session followed a turbulent day on Wall Street. The major indexes tumbled on as investors were spooked by renewed trade tensions.
The Dow fell 422.17 points, or 0.94%, while the S&P 500 and Nasdaq Composite slid 0.79% and 0.92%, respectively.
Trump on Monday announced the U.S. will impose 25% tariffs on goods imported from Japan and South Korea.
President Donald Trump
President Donald Trump on Monday warned that the U.S. could impose a 200% tariff on countries that import pharmaceuticals to the U.S.
"We'll be announcing something very soon on pharmaceuticals," Trump said during a cabinet meeting. "We're gonna give people about a year, year and a half to come in, and after that they're gonna be tariffed if they have to bring the pharmaceuticals into the country at a very high rate, like 200%."
President Donald Trump on Tuesday said he will impose a 50% tariff on copper imports.
He confirmed the action for the industrial metal and pharmaceuticals in response to a question from FOX Business Network's Edward Lawrence.
"We're going to be announcing pharmaceuticals, chips and various couple of other things, you know, big ones," Trump said during a cabinet meeting. "We did steel, as you know, they're 50%. We did aluminum 50%. Lumber just came out... And we did cars... And now today we're doing copper. I believe the tariff on copper. We're going to make it 50%" he during his cabinet meeting.
Copper prices surged following the announcement, along with copper stocks Freeport McMoRan and Southern Copper, as well as ETF U.S. Copper Index.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| FCX | $48.38 | 3.25 | 7.20 |
| SCCO | $106.45 | 1.94 | 1.86 |
| CPER | $34.26 | 3.11 | 9.98 |
Trading Economics
President Trump, on Tuesday, confirmed the latest tariff deadline is firm.
"As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted. Thank you for your attention to this matter!" he posted on Truth Social.
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Amazon Prime, once the premier online shopping event, has more competition than ever. Rivals including Walmart and Costco are offering their own deals, hoping to lure shoppers away from the Jeff Bezos' founded online retailer.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| AMZN | $223.47 | 0.06 | 0.03 |
| COST | $992.18 | 5.16 | 0.52 |
| WMT | $99.35 | 0.99 | 1.01 |
Still, the event is expected to drive shoppers to spend a record $23.8 billion, per Adobe, from July 8th through the 11th.
Bezos is fresh off his whirlwind Venice Italy wedding where he married Lauren Sanchez.
Major corporations are stepping up support for disaster relief efforts after flash floods wreaked havoc across several central Texas communities over the Fourth of July holiday weekend, killing at least 82 people. (Jim Vondruska / Getty Images)
The U.S. Small Business Administration (SBA) announced they will be offering relief in the form of low-interest disaster loans for Texas Hill Country businesses and residents affected by severe flash floods, following President Trump's July 6 disaster declaration
“Following President Trump's disaster declaration, SBA relief is now available for small businesses and residents in Texas Hill Country. As we coordinate recovery efforts alongside our state and federal partners, we continue to pray for the first responders and all impacted,” a statement by the SBA said.
The availability of low-interest rate federal disaster loans will be offered to Texas small businesses, residents, and private nonprofit (PNP) organizations affected by severe storms, straight-line winds, and the flooding that began on July 2.
It will cover Kerr County and residents there will be eligible for both physical disaster loans and Economic Injury Disaster Loans (EIDL) from the SBA.
Small businesses and most private non-profit organizations in adjacent counties are eligible to apply only for SBA economic injury disaster loans: these counties will include Bandera, Edwards, Gillespie, Kendall, Kimble, and Real.
“As we pray for those impacted by the devastating flooding in Texas, as well as our first responders, the SBA is mobilizing to provide critical on-the-ground resources necessary for recovery,” said Kelly Loeffler, SBA Administrator. “As a result of President Trump’s immediate disaster declaration, the agency is now offering physical and economic injury disaster loans in Texas Hill Country. We are working closely with our state, local, and federal partners, and are committed to delivering robust relief and support as recovery begins in the days and months ahead.”
With the U.S. cracking down on illegal immigrants, American workers are seeing a bigger job boost, according to the latest data. Here's what it signals for the economy.
Tesla shares fell nearly 7% Monday as investors reacted to CEO Elon Musk's new move to create his own political arm dubbed the "America Party."
| Symbol | Price | Change | %Change |
|---|---|---|---|
| TSLA | $293.94 | -21.41 | -6.79 |
The move fueled worries Musk may divert more of his brainpower away from the electric-vehicle maker, leaving shareholders in the lurch yet again. Musk's devotion to President Trump during his campaign and later in the White House didn't go over well withTesla stockholders.
Tesla shares are down over 22% year-to-date.
America's energy grid is a ticking time bomb according to a new report from the Department of Energy.
Secretary Chris Wright sounds off and hints at a solution for the coming decade.
President Donald Trump on Monday announced 25% tariffs on goods from Japan and South Korea.Trump posted letters he shared with the leaders of the countries to his Truth Social account.
U.S. stocks fell on the news putting investors on edge. Trump's team is promising more updates as soon as Tuesday.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $44,406.36 | -,422.17 | -0.94 |
| SP500 | $6,229.98 | -49.37 | -0.79 |
| I:COMP | $20,412.52 | -,188.59 | -0.92 |
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