Market Summary - July 07, 2025
Index Performance
| Index | Up/Down | % Change | Last |
|---|---|---|---|
| DJ Industrials | -207.07 | 0.46% | 44,621 |
| S&P 500 | -26.30 | 0.42% | 6,252 |
| Nasdaq | -109.51 | 0.54% | 20,490 |
| Russell 2000 | -7.07 | 0.31% | 2,241 |
Market Overview
U.S. stocks are experiencing a slight pullback after a week of solid gains, with the S&P 500 and Nasdaq reaching record highs last Thursday. Investors are bracing for a week filled with potential market-moving events. President Trump announced on Truth Social that "tariff letters and/or deals" would be issued starting midday Monday, threatening an additional 10% tariff on countries that align with the "Anti-American policies" of the BRIC nations. This statement overshadowed Treasury Secretary Bessent's warnings about reverting tariffs to previous levels, although he indicated some flexibility with tariffs set to take effect on August 1. The U.S. is reportedly struggling to finalize agreements with Japan, South Korea, and India.
Key Events This Week
Although there are no major earnings reports or Federal Reserve speakers today, several significant events are on the horizon:
- Amazon Prime Day starts on Tuesday.
- The 90-day tariff pause ends on Wednesday, coinciding with the U.S. 10-year Treasury auction and the release of the FOMC's prior meeting minutes.
- Jobless claims and the 30-year Treasury auction are scheduled for Thursday, along with the kickoff of Q2 earnings with Delta Airlines reporting.
Sector Movers
Insurance
Barclays downgraded Chubb (CB) and Travelers (TRV) to Equal Weight from Overweight due to increasing risks in underwriting margins. They upgraded RenaissanceRe (RNR) to Equal Weight and highlighted Hartford (HIG) as a top pick in commercial P&C.
Metals & Mining
Royal Gold (RGLD) announced the acquisition of Sandstorm Gold (GOLD) for approximately $3.5 billion, enhancing its position in the gold-focused streaming and royalty sector.
Casinos/Gaming
Goldman Sachs initiated coverage on several casino stocks, rating Wynn (WYNN) and Caesars (CZR) as Buy, while MGM (MGM) was rated Sell due to concerns over large-scale projects not opening until 2030.
Cryptocurrency
CRWV is set to acquire Core Scientific (CORZ) in an all-stock deal valued at $9 billion. Other notable updates include MSTR reporting a significant unrealized gain on digital assets.
Stock Gainers
- COGT +26%: Positive trial results for Bezuclastinib.
- KALV +16%: FDA approval for EKTERLY.
- WNS +14%: Acquisition by Capgemini for $3.3 billion.
Stock Laggards
- BULL -10%: Standby equity purchase agreement with Yorkville Advisors.
- CRWD -2%: Downgraded to Neutral at Piper.
- JSPR -51%: Halted asthma trial due to drug product lot issues.