Stock Market Today
The big news remains tariffs.
As we discussed yesterday, the Trump administration made unilateral deals for those countries that hadn't yet come to the negotiating table. That means 25% to 40% tariffs on many countries, including key trading partners like Japan, South Korea, and Malaysia. Other deals are still expected, including Europe, which has a potential 50% tariff threatened.
Later today the Federal Reserve's policy-making Federal Open Market Committee will release minutes from its June meeting, and the Treasury will auction off $39 billion in fresh 10-year notes.
Futures
Stock market futures are all higher this morning, as are treasury bond futures. Gold and copper futures are off their overnight highs and crude oil is little changed.
Although only modestly higher, S&P 500 futures have been rallying since the early morning hours.
