Morning Preview: July 07, 2025
Early Look
On Monday, July 7, 2025, stock futures are slightly lower following a weekend filled with tariff headlines. President Trump announced on Truth Social that “tariff letters and/or deals” would be delivered starting midday Monday, threatening an additional 10% tariff on countries aligning with the “Anti-American policies” of the Bric’s group of emerging economies. This announcement comes after the S&P 500 and Nasdaq Composite closed at record highs on Thursday, with the S&P 500 up 1.72% and the Nasdaq up 1.62% last week.
Market Overview
| Index | Change | % Change | Last |
|---|---|---|---|
| Dow | -25.00 | 0.06% | 45,072 |
| S&P 500 | -17.25 | 0.28% | 6,306 |
| Nasdaq | -91.50 | 0.40% | 22,971 |
Global Market Performance
In Asian markets, the Nikkei Index fell by 223 points to 39,587, while the Shanghai Index remained stable at 3,473, and the Hang Seng Index slipped by 28 points to 23,887. In Europe, the German DAX rose by 140 points to 23,927, and the FTSE 100 increased by 5 points to 8,828.
Economic Data
Following a stronger-than-expected U.S. jobs report, market expectations for an interest-rate cut in July have diminished. The report indicated that non-farm payrolls increased by 147,000 jobs, surpassing the forecast of 110,000 jobs, and unemployment fell to 4.1% from the expected 4.3%.
Stock News
Tesla (TSLA) shares fell after CEO Elon Musk announced the formation of a new political party, the America Party. Additionally, Molina Healthcare (MOH) shares dropped after the company guided Q2 and FY26 EPS below consensus estimates.
Market Closing Prices from Previous Day
- S&P 500 Index: +51.93 points, or 0.83%, to 6,279.35
- Dow Jones Industrial Average: +344.11 points, or 0.77%, to 44,828.53
- Nasdaq Composite: +207.97 points, or 1.02%, to 20,601.10
- Russell 2000 Index: +22.06 points, or 1.02%, to 2,249.04
Macro Indicators
| Indicator | Change | Last |
|---|---|---|
| Nymex | 0.01 | 67.01 |
| Brent | 0.45 | 68.75 |
| Gold | -35.40 | 3,307.50 |
| EUR/USD | -0.0052 | 1.1726 |
| JPY/USD | 0.90 | 145.45 |
| 10-Year Note | +0.014 | 4.354% |
World News
Major U.S. trading partners are rushing to secure trade deals or lobby for extensions as the deadline approaches. Treasury Secretary Scott Bessent indicated that countries without agreements by the deadline may receive a three-week extension. OPEC+ plans to increase oil production by 548,000 barrels a day next month to meet summer demand.
Sector News Breakdown
Consumer
Tesla's shares are down following Musk's political announcement.
Energy, Industrials, and Materials
Amrize Ltd. (AMRZ) received positive mentions in Barron’s, while Baker Hughes reported a decrease in the U.S. oil drilling rig count.
Financials
Geo Group (GEO) and CoreCivic (CXW) shares rose after the approval of Trump's tax and spending bill.
Healthcare
Apogee Therapeutics (APGE) announced positive trial results, and KalVista Pharmaceuticals (KALV) received FDA approval for a new treatment.
Technology, Media & Telecom
Apple Inc. (AAPL) reported growth in sales, and Capgemini announced a significant acquisition.