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Stock market today: Dow, S&P 500, Nasdaq steady as Trump says he won't extend Aug. 1 tariff deadline

Updated Tue, Jul 8, 2025, 11:51 AM 2 min read

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US stocks were little changed on Tuesday as Wall Street weighed President Trump's threat of stiff tariffs on key trading partners against his three-week reprieve on the return of sweeping "Liberation Day" duties.

The S&P 500 (^GSPC) hovered near the flat line, while the Dow Jones Industrial Average (^DJI) was down around 0.3% at last check. The tech-heavy Nasdaq Composite (^IXIC) rose slightly on the heels of a losing start to the week for the major gauges.

Stocks are treading water as markets search for the positive in Trump's latest trade policy shifts. He has moved his July 9 deadline for the resumption of "reciprocal" tariff rates to Aug. 1, giving countries three extra weeks to negotiate trade deals with the US.

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On Tuesday morning, Trump said there would be no extension beyond the Aug. 1 deadline, when countries are expected to begin paying tariffs, as his administration continues sending letters to foreign officials notifying them of the rates on imported goods.

His comments come amid investor speculation that Trump might once again delay the timeline in what has been dubbed the "TACO" trade — the idea that "Trump always chickens out," or that he will eventually dial back on his trade threats.

Read more: The latest on Trump's tariffs

Stock benchmarks in Japan and South Korea closed higher on Tuesday, despite Trump's threat to start imposing 25% duties on imports from those countries in August. Another 12 US trading partners received letters laying out tariffs of up to 40% on Monday, with Malaysia, South Africa, and Indonesia among them.

In corporate news, Amazon (AMZN) shares slid around 2% as its Prime Day deals kicked off. The e-commerce giant has extended the event to four days this year, with investors on watch for signs that tariff costs are pushing up price tags.

Elsewhere, Wall Street expects a quiet week in terms of economic releases and earnings. Minutes from the Federal Reserve's June meeting are due on Wednesday, while Delta's (DAL) results on Thursday signal the return of earnings season.

LIVE 14 updates

  • Ines Ferré

    Wall Street is getting more bullish on stocks as trade uncertainty lingers

    Yahoo Finance's Allie Canal reports:

    Read more here.

  • Ines Ferré

    Uber stock retreats from all-time high

    Uber (UBER) shares briefly touched another intraday record on Tuesday before retreating.

    The stock was down more than 1% by mid-session on Tuesday. Shares of the ride-hailing company have been on a tear this year, gaining more than 60% and closing at an all-time high on Monday.

    Tesla's (TSLA) muted response to its robotaxis event in Texas two weeks ago could be helping the stock.

    Uber and Alphabet's (GOOG, GOOGL) Waymo have expanded their partnership to offer autonomous ride-hailing services in Atlanta and Austin.

  • Ines Ferré

    Trump says no extension to Aug. 1 tariff payment date

    President Trump said there will be no extension beyond the Aug. 1 deadline, when countries are expected to begin paying tariffs, as his administration continues sending letters to foreign officials notifying them of the new import duties.

    "As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change," wrote Trump on social media.

    "In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted," he added.

    His comments come amid investor speculation that Trump might once again delay the timeline, following a previous pause days after April's Liberation Day, when he announced a broad reciprocal tariff plan targeting US trading partners.

  • Ines Ferré

    Circle stock hit with 'Sell' rating over worries about looming rate cuts

    Circle (CRCL) shares dipped as much as 4% before paring losses on Tuesday after a Wall Street analyst flagged growing risks from rising competition and looming interest rate cuts that could take a bite out of the stablecoin issuer's revenue.

    The stock has surged more than 500% since Circle’s public debut last month at $31 per share, buoyed by optimism around the broader adoption of asset-backed digital tokens.

    But Mizuho analysts pushed back on the bullish outlook, initiating coverage with an Underperform rating and a $85 price target, compared with its recent levels above $200 a share.

    Circle makes much of its money from interest income — specifically from the short-term Treasury bills that underpin its stablecoin, USDC.

    "We believe consensus does not fully account for looming interest rate cuts, and also overstates USDC's medium-term growth potential," Mizuho managing director Dan Dolev and his team wrote.

    Dolev also pointed to rising distribution costs as Circle shares a portion of its reserve income with partners like Coinbase (COIN).

    The analysts also pointed out last month's passage of the GENIUS Act, legislation aimed at creating regulatory guardrails for the industry, could be the catalyst that brings competing stablecoins to the market.

  • Ines Ferré

    Stocks hit pause as investors wait for next Trump move on trade

    Stocks were little changed Tuesday as investors awaited further trade developments after President Trump sent tariff letters to 14 countries and extended his deadline for "reciprocal" tariff rates from July 9 to August 1, giving trading partners three more weeks to negotiate.

    The S&P 500 (^GSPC) rose 0.1%. The Dow Jones Industrial Average (^DJI) fell slightly. The tech-heavy Nasdaq Composite (^IXIC) edged up 0.3%, on the heels of a losing start to the week for the major gauges.

    Tesla stock (TSLA) rose 1% after sinking more than 6% in the prior session as CEO Elon Musk announced his intention to start a new third political party in the US.

  • Tesla's stock chart still looks bearish

    Tesla stock (TSLA) rose 1% in premarket trading on Tuesday. However, it remains below the key 50-day, 100-day, and 200-day moving averages, according to Yahoo Finance analysis.

    Yahoo Finance's Brian Sozzi writes:

    Read more here.

  • Goldman Sachs lifts S&P 500 return forecasts on Fed outlook, large-cap stocks

    Reuters reports:

    Read more here.

  • Solar stocks slip after Trump order targets clean energy subsidies

    Solar stocks fell in premarket trading on Tuesday after President Trump issued an executive order directing federal agencies to strictly enforce provisions in the "big, beautiful bill" that would end clean energy subsidies.

    Under the law and Trump's executive order, only projects that have "a substantial portion of a subject facility" built in the next 12 months can claim tax credits, and the projects must be in service by 2027. Trump also directed the heads of Treasury and Interior to write new guidance in the next 45 days.

    Sunrun (RUN) fell 7.2%, Enphase (ENPH) dropped 3.4%, and First Solar (FSLR) was down 2.7%. NextEra Energy (NEE) and AES (AES) slid 2.3%.

  • The 'new normal' of growth stock dominance

    Yahoo Finance's Hamza Shaban reports in today's Morning Brief:

    Read more here.

  • Apple loses a top AI exec to Meta's hiring spree

    Meta (META) has hired Ruoming Pang, the head of Apple's (AAPL) artificial intelligence models team, in another setback for the iPhone maker's AI push.

    Pang is the latest big hire in Meta CEO Mark Zuckerberg's fierce AI headhunting spree, and he was offered a package worth tens of millions of dollars to lure him away from Apple, sources told Bloomberg.

    Bloomberg reports:

    Read more here.

  • Jenny McCall

    Good morning. Here's what's happening today.

  • Jenny McCall

    Trending tickers: Clean energy companies, Tesla, and Alaska Airlines

    Here are some top stocks trending on Yahoo Finance in premarket trading:

    First Solar (FSLR) shares fell 2% on Tuesday before the bell following the announcement on Monday that President Trump's "big, beautiful bill" will end clean energy subsidies for companies like First Solar. Battery provider, SolarEdge Technologies (SEDG), fell 4% and Enphase Energy (ENPH) also dropped 4%.

    Tesla (TSLA) stock rebounded on Tuesday and was up 1% in premarket trading after closing 6% down on Monday. CEO Elon Musk announced he plans to continue in politics by making the "America Party," despite calls from investors to refocus on running his company.

    Alaska Airlines (AAL) stock rose 3% after the airline received a positive earnings preview. UBS Securities said in an earnings preview Monday that it expects Alaska Airlines' second quarter earnings per share to be in line with company guidance due to demand stabilizing.

  • Japan, S. Korea stocks rise after Trump extends tariff deadline

    Japan and South Korea's stock benchmarks edged higher on Tuesday, despite President Trump's threat of 25% tariff rates in letters sent to the top US trading partners.

    Analysts suggest markets are cautiously hopeful that the countries can hammer out a trade deal with the US, as Trump has given more breathing space by pushing back the start of tariffs to Aug. 1.

    Reuters reports:

    Read more here.

  • Oil falls as tariff ripples shake price, OPEC+ ramps up supply

    Oil dipped early Tuesday morning as investors eyed the impacts of Trump's fast-approaching tariffs, despite the deadline for implementation being pushed until August. In combination with tariff speculation, OPEC+ announced a decision to increase supply in August, further lowering the price of the commodity.

    Bloomberg reports:

    Read more here.


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