By Alex Financials

Tariffs Stir Markets, But No Panic

New metals & pharma tariffs by Trump have injected uncertainty: a 50% tariff on copper and potential 200% levies on pharmaceuticals (effective August 1) are weighing on markets. U.S. stock futures are trending higher cautiously as investors separate headline noise from fundamentals.

• Copper prices surged ~13%, benefiting miners and metal stocks.

• Yet broad markets (Dow, S&P 500, Nasdaq) are rising modestly—tech is powering forward while metals lag.

Nvidia Makes History, Lifts Tech Stocks

Nvidia (NVDA) became the first-ever $4 trillion company, triggering a tech rally that pushed Nasdaq ~0.7% higher today . The broader Magnificent 7—Apple ($AAPL), Alphabet ($GOOGL), Tesla ($TSLA)—also rose in sympathy, with tech leading the gains .

• $AAPL: down ~$2 intraday at $207.53; P/E ~33.7; still seen as core long-term holding.

• $GOOGL: up ~$2.70, trading at $177.06.

• $TSLA: around $294.83, marginal pullback today after recent rebound .

Fed Minutes & Rate Watch

Fed minutes from the June 17‑18 meeting are due this afternoon. Markets expect insights into internal debate on whether tariffs and survey signals justify rate cuts .

• Most analysts anticipate first cut in September, though July remains a remote possibility.

• Rate holds between 4.25–4.50% so far; inflation manageable but tariff dynamics complicate policy.

Markets Rally Since April Crash

Since the April “Liberation Day” tariff shock, the S&P 500 has jumped ~25%, Dow ~6,600 points. Historical studies show that similarly strong 50-day rallies often continue—averaging 6.4% after 3 months.

Markets appear resilient, especially in quality tech, but valuations are high and policy risks remain.

Global Ripple Effects

• Emerging markets like India dipped amid U.S. trade threat spillover — Nifty50 fell ~25 pts; Sensex down 110 pts.

• Gold & wheat saw modest price gains: gold futures at ~$3,310/oz; wheat up amid dry weather in North America .

Company Snapshots

• Apple ($AAPL) is stable but largely following Nvidia’s lead; watch next earnings due end‑July .

• Alphabet ($GOOGL) continues steady growth fueled by AI momentum .

• Tesla ($TSLA) is consolidating ahead of Q2 earnings estimated for July 23—investor focus on guidance amid mixed sentiment.

• AI/Chip stocks like AMD and Super Micro also showing strength amid the tech upswing.

What Investors Should Watch

• Fed minutes today (2 p.m. EDT): clues on rate path vs. tariff risks.

• Tariff letters continue to roll out—major impact expected from Aug 1.

• Q2 earnings: Nvidia already peaked; Apple, Alphabet, Tesla coming.

• Yield & bond flows: a stronger dollar + yield moves may signal capital rotation.

Bottom Line

Markets are shrugging off tariff threats, buoyed by mega-cap tech and steady Fed guidance. The tech-led rally is strong, but geopolitical policy, rate decisions, and upcoming earnings add volatility.

What to do:

• Stay diversified, with exposure to tech while hedging metals/agri risk.

• Keep an eye on Fed communications and tariff developments.

• Prepare for upcoming earnings; tech names may surprise on either side.