- U.S. indexes started the week on a mixed note following last week’s record highs
- Uncertainty around upcoming trade announcements and tariff deadlines is weighing on markets
- Tesla shares drop over 6% after a surprising statement from Elon Musk
U.S. stocks opened with mixed sentiment after the long weekend, as investors eagerly await the results of trade negotiations and potential agreements. At the time of publication, the US500 is up 0.25% at 6,300 points, and the US100 is gaining 0.10% to 22,930 points. The U.S. dollar is one of the strongest G10 currencies today, with the USD Index rising 0.31%.
Treasury Secretary Scott Bessent hinted that multiple trade announcements could be made within 48 hours, without specifying which countries are involved — adding to the uncertainty. Further pressure came after Donald Trump threatened to impose 10% tariffs on countries aligned with the BRICS bloc — including China and India — amid their summit in Brazil. Investors are concerned about geopolitical consequences, especially as BRICS aims to reduce dependence on the U.S. dollar. Meanwhile, Tesla shares dropped over 6% at the start of cash trading after Elon Musk announced plans to form a political party called the "America Party." The unexpected move raised concerns about the CEO’s focus and potential tensions with current President Donald Trump.
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The tech-heavy index is holding off on major moves while awaiting a clearer trade outlook. Today, the US100 is up slightly by 0.10% to 22,930 points as investors wait for clarity on international trade developments.
Company News
Tesla (TSLA.US) dropped over 6.00% in premarket after Elon Musk announced the formation of a new political party in response to GOP tax and spending plans. Analysts flagged potential board intervention, with concerns growing that Musk's political focus could distract from Tesla operations.
Dow (DOW.US) slipped 5.90% after announcing plans to shut three European upstream assets by end-2027, affecting ~800 jobs. The move responds to weak European market conditions and rising costs.
Molina Healthcare (MOH.US) rose 0.50%, recovering from earlier losses, after issuing Q2 EPS guidance of $5.50—slightly below expectations. The company cited ongoing medical cost pressures expected to persist into H2.
Stellantis (STLA.US) fell 0.30% premarket after U.S. regulators opened a recall investigation into 1.2M Ram trucks over potential brake shift issues that could cause unintended vehicle movement.
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