By Scott Lehtonen
The Dow Jones Industrial Average and other major indexes traded lower Monday despite word from Treasury Secretary Scott Bessent that several trade deal announcements are ahead. This comes as investors more tariff threats from President Donald Trump. Meanwhile, Tesla fell on the stock market today after Chief Executive Elon Musk announced plans to form a new political party.
After the opening bell, the Dow Jones Industrial Average dropped 0.2%, while the S&P 500 fell 0.3%. The tech-heavy Nasdaq composite lost 0.5%.
The 10-year Treasury yield rose to 4.37% Thursday morning. Also, oil prices were higher with West Texas Intermediate futures selling around $67.40 a barrel.
Among exchange traded funds, the Invesco QQQ Trust fell 0.5%. Further, the SPDR S&P 500 ETF dropped 0.3% after the market open.
Treasury Secretary Bessent told CNBC Monday that several trade deals will be announced over the next 48 hours, but did not specify which countries would be involved. The news comes after Trump said he plans to send letters to various nations to notify them of various tariffs expected to go into effect Aug. 1.
In stocks, issues on the move early Monday include CoreWeave and Circle Internet Group. CoreWeave stock declined 4%, while shares of Circle added more than 1% in morning action.
8:41 a.m. ET
DOW JONES MOVERS: AMAZON, NVIDIA
Amazon and Nvidia were among the early movers on the Dow Jones industrials Monday.
Amazon stock rose 0.4% ahead of the company's Prime Day that runs from July 8 through July 11. Shares are in a buy zone above a 214.84 buy point.
And Nvidia lost 0.9% in premarket trading, easing from Thursday's all-time high.
8:06 a.m. ET
TESLA STOCK PLUNGES ON MUSK POLITICAL PARTY
Tesla stock tumbled more than 6% Monday premarket after CEO Musk planned to form a new political party. Musk made the move as he opposed Trump's tax-and-spending package. The electric-vehicle giant loses big tax credits in the so-called "big beautiful bill."
Shares of Tesla closed Thursday just below their 50-day moving average following heavy losses in recent sessions.
STOCK MARKET TODAY: TRUMP TARIFF NEWS
Over the weekend, Trump said he'll send out "probably 12" letters on Monday to countries telling them what additional tariffs he'll impose unilaterally on their goods, as of Aug. 1. The president also has said he'll send out dozens of letters by Wednesday, July 9, the end of a 90-day pause for his "Liberation Day" tariffs.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
View this article at Investors.com
https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-trump-tariffs-tesla-tsla-stock/
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July 07, 2025 09:47 ET (13:47 GMT)
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