In the U.S. stock market on Tuesday, indices showed minimal fluctuation as investors processed mixed messages from President Trump regarding tariff policies. Initially, there was a postponement of widespread "Liberation Day" tariff impositions until August 1. However, Trump soon rescinded this decision, stating there would be no further delays, adding to the unpredictability of the trade landscape. The S&P 500 and Nasdaq concluded the trading session nearly unchanged, whereas the Dow Jones Industrial Average saw a decline of 165 points.
Notably, Trump's announcement of a dramatic 50% tariff on copper imports caused a significant reaction in the market, with copper futures jumping over 10%, positively impacting shares of companies like Freeport-McMoRan and Southern Copper. In contrast, pharmaceutical stocks saw a reduction in their gains after Trump proposed a potential 200% tariff on international pharmaceuticals but indicated a possible one-year deferral.
Among key market movers, Tesla experienced an increase of 1.3%, while Amazon saw a decline of 1.8% as its expanded Prime Day kicked off. Investors are keenly awaiting the Federal Reserve’s release of June meeting minutes scheduled for Wednesday, along with upcoming earnings reports from Delta Air Lines later in the week.
