US open: Stocks slightly lower as tariff headlines remain in focus
By Iain Gilbert
Date: Thursday 10 Jul 2025
(Sharecast News) - Major indices were slightly lower early on Thursday as tariff headlines remained firmly in focus.
As of 1440 BST, the Dow Jones Industrial Average was down 0.12% at 44,406.37, while the S&P 500 shed 0.06% to 6,259.44 and the Nasdaq Composite came out of the gate 0.05% softer at 20,600.98.
The Dow opened 51.93 points lower on Thursday, taking a bite out of gains recorded in the previous session as the blue-chip index bounced back after two days of losses as minutes from the latest Federal Reserve meeting opened the door to another rate cut this year.
Donald Trump said late on Wednesday that he was now instituting a 50% tariff on imported copper, with effect from 1 August, and also announced a 50% tariff on Brazil, principally in retaliation for its ongoing trial against former president Jair Bolsonaro for his role in an alleged attempt to overturn Brazil's 2022 election results. Trump also said the tariffs were due to a "very unfair trade relationship" with Brazil.
Brazilian president Luiz Inacio Lula da Silva said that his country would respond to the new levy in accordance with its economic reciprocity law.
Before Trump's Brazil tariff announcement, he sent letters that outlined new US import duties on at least seven additional countries, just days after he sent letters spelling out new rates to the leaders of 14 other countries, including Japan and South Korea.
On the macro front, Americans lined up for unemployment benefits at a decelerated pace in the week ended 5 July, according to the Labor Department, pointing to a labour market that remains relatively robust despite high interest rates and economic uncertainty. Initial jobless claims fell to 227,000, dropping from a downwardly revised reading of 232,000 in the prior week and marking the fourth consecutive decline and the lowest count in seven weeks. Continuing claims rose by 10,000 to 1.965m, the highest level since November 2021, while the four-week moving average, which aims to strip out week-to-week volatility, decreased by 5,750 to 235,500.
In the corporate space, Delta Air reinstated its FY25 profit guidance on Thursday as it pointed to a rebound in consumer demand.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $23.44 5.87%
Boeing Co. (BA) $226.60 3.70%
Merck & Co. Inc. (MRK) $83.71 2.88%
Dow Chemical Co. (DOW) $29.84 2.68%
Caterpillar Inc. (CAT) $402.18 2.00%
3M Co. (MMM) $155.98 1.46%
Microsoft Corp. (MSFT) $503.51 1.20%
Cisco Systems Inc. (CSCO) $69.27 1.03%
Apple Inc. (AAPL) $211.14 0.98%
Home Depot Inc. (HD) $371.04 0.96%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $302.91 -1.56%
Coca-Cola Co. (KO) $69.48 -1.08%
Verizon Communications Inc. (VZ) $42.61 -1.05%
Salesforce.Com Inc. (CRM) $270.92 -1.00%
Walt Disney Co. (DIS) $120.61 -0.99%
Nike Inc. (NKE) $73.56 -0.49%
Travelers Company Inc. (TRV) $255.32 -0.42%
Walmart Inc. (WMT) $96.81 -0.29%
Procter & Gamble Co. (PG) $157.52 -0.23%
Chevron Corp. (CVX) $153.02 -0.14%
S&P 500 - Risers
AES Corp. (AES) $13.26 19.78%
Intel Corp. (INTC) $23.44 5.87%
D. R. Horton Inc. (DHI) $138.41 5.36%
Advance Auto Parts (AAP) $58.37 4.77%
Vertex Pharmaceuticals Inc. (VRTX) $478.96 4.75%
PulteGroup Inc. (PHM) $113.77 4.49%
Lennar Corp. Class A (LEN) $115.36 4.47%
Apache Corp. (APA) $20.45 4.28%
Boeing Co. (BA) $226.60 3.70%
Tapestry Inc. (TPR) $95.31 3.36%
S&P 500 - Fallers
Seagate Technology Plc (STX) $142.01 -4.94%
Hershey Foods Corp. (HSY) $161.95 -4.70%
Monster Beverage Corp (MNST) $59.57 -4.67%
American Airlines Group (AAL) $11.48 -3.41%
Autodesk Inc. (ADSK) $307.27 -3.04%
Altria Group Inc. (MO) $57.75 -3.01%
Omnicom Group Inc. (OMC) $72.50 -2.89%
Globe Life Inc. (GL) $117.60 -2.88%
United Airlines Holdings Inc (UAL) $80.18 -2.80%
Baxter International Inc. (BAX) $29.81 -2.77%
Nasdaq 100 - Risers
Qvc Group Inc Series A (QVCGA) $3.03 7.07%
Intel Corp. (INTC) $23.44 5.87%
Vertex Pharmaceuticals Inc. (VRTX) $478.96 4.75%
Biomarin Pharmaceutical Inc. (BMRN) $59.67 4.14%
Check Point Software Technologies Ltd. (CHKP) $231.23 3.59%
Microchip Technology Inc. (MCHP) $74.68 2.88%
DENTSPLY Sirona Inc. (XRAY) $16.57 2.86%
Hologic Inc. (HOLX) $65.85 2.62%
Regeneron Pharmaceuticals Inc. (REGN) $552.58 2.61%
Fastenal Co. (FAST) $43.40 2.50%
Nasdaq 100 - Fallers
Seagate Technology Plc (STX) $142.01 -4.94%
Monster Beverage Corp (MNST) $59.57 -4.67%
American Airlines Group (AAL) $11.48 -3.41%
NetEase Inc. Ads (NTES) $130.25 -3.37%
Autodesk Inc. (ADSK) $307.27 -3.04%
JD.com, Inc. (JD) $31.60 -2.96%
Booking Holdings Inc. (BKNG) $5,668.04 -2.53%
Baidu Inc. (BIDU) $88.66 -2.47%
Mondelez International Inc. (MDLZ) $66.85 -2.14%
Paypal Holdings Inc (PYPL) $74.83 -1.95%
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