marketmoves

🇺🇸 US Markets Brief

🎯 US-EU near 15% tariff deal; Alphabet, Tesla report Q2; oil, silver rally on supply, risk.

🔸 US and EU are close to a 15% tariff deal, but Trump’s approval is pending; EU preparing $100B in retaliatory tariffs if talks fail.

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🔸 Meme-stock activity surges: Kohl’s $KSS, GoPro $GPRO, and Krispy Kreme $DNUT see outsized moves on retail momentum and short squeezes.
🔸 Freeport-McMoRan $FCX beats Q2 estimates on higher copper/gold prices but warns US tariffs could raise costs; awaits clarity on 50% copper import tariff in August.

🔸 Alphabet $GOOGL and Tesla $TSLA report Q2 earnings after the bell; options markets price in 5–7% post-earnings swings.
🔸 US existing home sales fell 2.7% in June to a nine-month low as record prices and high mortgage rates weigh; Trump hints at capital-gains tax cuts for home sales.

🔸 US to lift Nvidia $NVDA H20 chip export curbs to China in exchange for rare-earth magnets, aiming to secure supply chains.
🔸 Trump administration unveils AI plan loosening oversight, promoting open-source models, and accelerating data-center buildout.