A JPMorgan Chase & Co. Wealth Administration check in New York, U.S., on Thursday, July 10, 2025.
Gabby Jones | Bloomberg | Getty Pictures
Friday, Aug. 1 — the “exhausting deadline” of U.S. President Donald Trump’s up to date tariffs — is lower than two weeks away. Traders, nevertheless, appear largely unbothered so far. For final week, whereas the Dow Jones Industrial Common dipped marginally, the S&P 500 and Nasdaq Composite rose 0.6% and 1.5% respectively.
Even a report that Trump needed a minimal of 15%-20% tariffs on the European Union solely dealt a minimal blow to markets, which largely closed unchanged Friday. Though these figures are increased than the common 10% baseline tariff Trump reportedly needed — and which the EU is hoping to safe — they’re nonetheless decrease than the 30% Trump stated he’ll impose on the bloc in his July 12 letter.
An upbeat begin to earnings season has additionally helped to quell tariff fears for now. Round 83% of the S&P 500 corporations which have reported earnings have exceeded expectations, in response to FactSet knowledge. Particularly, huge banks resembling JPMorgan Chase and Goldman Sachs, which function barometers for financial exercise, had stable beats, boosting investor sentiment.
Subsequent within the highlight are Huge Tech earnings, which can be launched within the weeks proper earlier than Aug. 1. If higher than anticipated, they may dispel geopolitical jitters — or trigger traders to dismiss commerce fears too readily. In these stormy occasions, each silver lining has a darkish cloud.
What it’s essential know at this time
And eventually…
Bottles of whiskey sit on a shelf at Mike’s Whiskey Retailer downtown.
Peter Kneffel | Image Alliance | Getty Pictures
‘30% is untenable’: From Irish whiskey to Italian cheese, Trump’s tariff risk rattles EU exporters
Alongside the “final highway in Eire,” on the nation’s rugged west coast, June O’Connell’s enterprise Skellig Six18 makes gin and whiskey — a time-intensive course of guided by the wind, rain and funky temperatures that roll in year-round off the Atlantic.
America was a pure goal market as soon as their first spirits have been able to promote in 2019, in response to O’Connell, given its sturdy familiarity with Eire and large urge for food for premium drinks. Her first merchandise left County Kerry in November 2023 for a U.S. launch in early 2024.
Then the political tide began turning within the White Home.
— Jenni Reid
