TL;DR

Trump signals possible Fed rate cut; major tariff deadlines loom; Intel, Tesla, Charter see sharp moves.

Highlights

• Trump signals possible Fed rate cut after meeting with Powell; Powell says he will serve out his term despite pressure113.
• U.S. durable-goods orders fell 9.3% in June, led by a reversal in aircraft orders; core capital goods slipped 0.7%12.
• Trump says U.S.-China trade deal is close, targeting Aug. 1 for completion; 145% tariffs on Chinese goods remain3.
• U.S.-EU trade talks face Aug. 1 tariff deadline; odds of a deal seen as 50-50; von der Leyen to meet Trump in Scotland215.
• U.S. threatens 35% tariffs on Canadian goods as talks stall; Brazil faces potential 50% U.S. tariff amid diplomatic standoff45.
• Intel to spin off Networking and Edge Group, seeks outside investors; shares down ~9.5%7.
• Tesla to launch paid robotaxi pilot in San Francisco Bay Area this weekend; shares up 1.5% pre-market6.
• Charter Communications stock down 8–10% after Q2 profit miss and broadband subscriber losses9.
• Puma shares plunge nearly 20% after profit warning and guidance cut due to high inventories8.
• Chinese lithium futures spike on supply curbs; U.S.-listed lithium producers rally10.
• Accelerant surges 36% in NYSE debut, continuing strong insurance IPO momentum17.
• Lawmakers urge FDA crackdown on counterfeit GLP-1 drugs; Eli Lilly rises, Hims & Hers falls19.

Commentary

Traders are digesting a complex mix of macro, trade, and sector news into the close. Trump’s public suggestion that Powell may be open to rate cuts, paired with Powell’s insistence on serving out his term, keeps monetary policy in focus—especially as durable-goods data showed a sharp headline drop, though underlying business investment remains only modestly weaker11312. This could reinforce expectations for a more dovish Fed if further economic softness emerges.

Trade policy remains a major driver of risk sentiment. The U.S. is approaching critical Aug. 1 deadlines with the EU (30% tariffs possible), China (deal reportedly close, but 145% tariffs still in place), Canada (35% tariffs threatened), and Brazil (potential 50% tariff)234515. While talks with China appear to be progressing, uncertainty persists with the EU and Canada, and the Brazil situation introduces new volatility for emerging markets and commodity flows. The dollar remains firm, with Trump reiterating support for its strength but acknowledging export headwinds16.

Equity markets are seeing sharp stock-specific moves. Intel shares dropped nearly 10% on news of a networking unit spin-off, reflecting investor caution on restructuring7. Tesla rose modestly on plans to launch a robotaxi pilot in the Bay Area, though regulatory hurdles remain6. Charter and Puma both saw steep declines after disappointing earnings and guidance, highlighting continued market sensitivity to execution risk98. Meanwhile, lithium names are rallying on Chinese supply concerns, and Accelerant’s strong IPO debut signals ongoing demand for insurance sector exposure1017.

In healthcare, lawmakers’ push for FDA action on counterfeit GLP-1 drugs is benefiting Eli Lilly , while Hims & Hers fell on enforcement risk19. Commodity and FX markets are also reacting to global policy shifts, with the Brazilian real under pressure on tariff threats and Chinese lithium prices supporting U.S. miners510.

Traders should remain alert to late-session headlines on trade negotiations and any Fed commentary, as these could drive volatility into the close.