Overview

• The S&P 500 and Nasdaq remain near all-time highs, with futures indicating a lower open following renewed trade tensions.
• White House officials have warned that tariffs will be reimposed on key trading partners on August 1 if no agreements are reached.
• President Trump has threatened an additional 10% tariff on countries aligning with the anti-American policies of the BRICS coalition.
• Tesla shares plunged nearly 7% after Elon Musk announced plans to form a new political party.
• Robust June jobs data—147,000 payroll gains and a 4.1% unemployment rate—have reinforced economic optimism, prompting traders to lower September rate-cut odds to about 68%.