US stocks struggled to gain momentum near all-time highs as President Donald Trump commented on trade policies. Trump stated that an August deadline for reciprocal tariffs wouldn’t be extended, but expressed a willingness to negotiate with foreign countries.
The news lifted copper prices, which jumped due to the US president’s call for a 50% tariff. However, treasuries fell in response.
Copper producer Freeport-McMoRan Inc. saw significant gains, while drugmakers experienced volatility as Trump hinted at offering pharmaceutical manufacturers more time before imposing a 200% tariff on foreign-made products.
Tesla Inc. rose among megacaps, but Amazon.com Inc. declined during its Prime Day sales event.
Source: https://www.bloomberg.com/news/articles/2025-07-07/stock-market-today-dow-s-p-live-updates