US stocks hold steady despite Trump's tariff threats, Copper prices soar

U.S. stocks remained steady despite Trump’s tougher stance on tariffs, threatening up to 200% tariffs on pharmaceuticals and imposing a 50% tariff on copper, leading to record high copper prices. The Dow and S&P 500 dipped while the Nasdaq edged up, with the 10-year yield rising to 4.399%.

Trump’s threat of additional tariffs on countries aligned with BRICS sent stocks down, but analysts believe the impact will be manageable. Bank of America raised its S&P 500 targets, citing Corporate America’s resilience. Economists predict a rise in effective tariff rates if trade deals aren’t reached.

Consumers are optimistic about inflation, with expectations at 3%. Some countries have not received tariff letters, sparking speculation of imminent trade deals. Tesla’s Elon Musk announced support for bitcoin, and Amazon’s Prime Day sales began for a four-day event. Solar stocks fell after Trump’s executive order on clean-electricity tax credits.

Honeywell is evaluating strategic options for transportation and logistics businesses, while Boeing delivered a high number of planes in June. Nasdaq-listed Murano acquired bitcoin and an equity agreement, with bitcoin prices rising. Stocks closed with minimal changes amid tariff uncertainties.

Read more at Yahoo Finance: US stocks close little changed despite Trump’s tough tariff talk. Copper hits record high