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July 8, 2025
By Alex Financials
Markets tread water as Trump delays tariff deadline
President Trump postponed the implementation of new tariffs on imports from 14 countries—including Japan, South Korea, Bangladesh—from July 9 to August 1. While this delay offered a buffer, it didn’t drastically shift investor sentiment. U.S. stocks wavered: the Dow fell ~0.9%, S&P 500 dropped ~0.8%, and the Nasdaq slid ~0.9% as markets remained cautious.
Asian and European markets responded with cautious optimism, with gains in Japan, South Korea, and Australia, reflecting the tariff delay’s mild relief .
Tech rebounds while clean energy lags
In pre‑market futures, Tesla ($TSLA) rebounded ~1% following a Monday drop tied to Elon Musk’s new political party announcement. Meanwhile, clean‑energy stocks such as First Solar ($FSLR), SolarEdge ($SEDG), and Enphase ($ENPH) slipped 2‑4% on tariff and subsidy concerns.
Meta ($META) gained modestly after hiring a top Apple AI executive to strengthen its AI ambitions .
Big banks raise S&P 500 targets ahead of rate cuts
Goldman Sachs bumped its S&P 500 target to 6,900 in 12 months (from 6,500), anticipating Fed rate cuts and strong earnings.
Bank of America increased its year-end target to 6,300, confident in tech’s resilience and a lower equity risk premium.
However, analysts caution that the current rally is narrow—driven by mega‑caps—and could leave smaller stocks behind.
Treasuries higher, oil steady, gold dips
The 10-year Treasury yield edged up to ~4.4%, as investors balanced the prospect of Fed cuts with trade uncertainty.
Oil prices eased slightly after OPEC+ output increases, yet stayed relatively stable.
Gold tumbled along with oil on Thursday trading.
Indexes dip; VIX jumps; market breadth concerns
Monday’s sharp declines led to a 3.4‑to‑1 decline‑advance ratio on the NYSE, and 2.74‑to‑1 on Nasdaq, with VIX rising ~1.8% to ~17.8.
The S&P 500 upswing is narrow, supported by few stocks—raising warnings that many names aren’t participating in the rally.
Key catalysts on deck
Fed minutes from the June meeting are due Wednesday. No rate cuts expected now, but the tone will be parsed for future guidance.
Earnings season kicks off with Delta Airlines ($DAL) reporting Thursday.
The trade narrative continues, with the revised August 1 tariff deadline looming. Any fresh news could swing sentiment quickly.
Markets are in a cautiously optimistic phase. The tariff delay provided temporary relief, but uncertainty still weighs. Large-cap tech remains the primary rally engine, while other sectors lag. Analysts are upbeat on equities, with raised targets, but narrow market participation and macro risks warrant vigilance.