Stocks Drop on Trade Tensions & Tariff Threats

Stock indexes are down today on rising trade tensions as President Trump threatens higher tariffs. Bond yields are up on concern of higher inflation. Bitcoin hits a new high, and earnings season begins next week with the smallest projected increase in two years. Federal funds futures price in a 7% chance of a rate cut at the FOMC meeting.

Overseas markets are mixed, with Euro Stoxx 50 down -1.06% and China’s Shanghai Composite up. US stock movers include airline stocks falling, companies like Capricor Therapeutics and Civista Bancshares declining, and drone-related and cryptocurrency-exposed stocks rising. Levi Strauss & Co reports strong revenue, while Performance Food Group attracts takeover interest.

Earnings reports for July 11 include Hingham Institution For Saving, Lifezone Metals Ltd, PACS Group Inc, Smith-Midland Corp, and Unity Bancorp Inc. Nvidia hits a record high after CEO Huang meets President Trump, and Visteon Corp rises after a Goldman Sachs upgrade. ECB and US interest rates are also in focus, with the 10-year T-note yield climbing.

Read more at Yahoo Finance: Stocks Pressured by Escalation of Trade Tensions