Today’s Stock News Alerts
Stock markets reopened by reeling lower, just after the U.S. Independence Day. On Monday, President Trump doubled down on delaying the July 9 trade deadline to August 1.
South Korea and Japan now face 25% tariffs. This happened despite Japan’s Nippon Steel agreeing to buy U.S. Steel (X) for $14.9 billion weeks ago. Myanmar, Laos, South Africa, Kazakhstan, and Malaysia also face tariffs ranging from 25% to 40%.
Toyota Motor (TM) and Honda Motor (HMC) also faced stock selling pressure.
Beware of iron ore firms, including Cleveland-Cliffs (CLF). Copper prices are under pressure due to the risks of slowing metal demand. Watch out for Freeport-McMoRan (FCX) giving up recent gains.
Tesla’s (TSLA) relentless rally likely added on Monday. The stock closed down by 6.60% at $294.54. After CEO Elon Musk said he would move from DOGE to efforts leading Tesla, Musk announced the creation of the American Party.
Musk does not have many options to overcome the winding down of electric vehicle tariffs. Without the $7,500 credit, consumers will likely buy gas-powered or hybrid vehicles. Still, Tesla needs a focused leader to push EV unit sales before the credits wind down.
In the artificial intelligence sector, watch CoreWeave (CRWV). The firm is spending $9 billion to buy Core Scientific. The all-stock deal will dilute CoreWeave investors. IT also adds data center infrastructure capacity for CoreWeave.
