US markets show mixed performance at mid-day as tariff deadline looms, Europe ends with gains

US markets show mixed performance at mid-day as tariff deadline looms, Europe ends with gains

At mid-day, amid continued concerns on the US trade deals and tariff,  the S&P 500 was trading marginally higher and traded 0.1 percent higher, while the Nasdaq Composite gained 0.3 percent. The Dow Jones Industrial Average slipped 76 points, or 0.2 percent.

President Donald Trump said on Truth Social that the August 1 start date for the tariffs laid out in letters to countries is a firm timeline that will not change.

On the Dow, top gainers included Chevron, Salesforce and Merck and Co. On the S&P 500, the gainers included Moderna, Albermarle, Devon Energy.

Technology stocks lead the gains, driven by semiconductor stocks like Nvidia and broader AI-related momentum. Financial services displayed resilience, with private banks and financials gaining 0.66 percent, supported by stable earnings expectations and tariff negotiation hopes.

On the other hand, consumer discretionary showed moderate strength at 35 percent relative strength, buoyed by companies like Tesla rebounding 2.7 percent today. Energy stocks were under pressure, with oil majors like ExxonMobil down 0.4 percent, reflecting falling crude prices amid global trade concerns.

European Market

European markets closed with mixed results on 8 July 2025, as investors grappled with ongoing US tariff uncertainties and anticipated updates on EU-US trade talks. The Stoxx Europe 600 index finished the day up 0.3 percent, reflecting cautious optimism.

Regionally, Germany’s DAX, France’s CAC 40, and the UK’s FTSE 100 each rose 0.5 percent, buoyed by hopes of a temporary EU-US trade framework to soften tariff impacts.

However, afternoon trading saw fluctuations, with the Stoxx 600 briefly falling 0.22 percent as bond yields climbed, including Germany’s 10-year yield at 2.65 percent and the UK’s at 4.64 percent. Banks led sector gains, up 0.8 percent, while retail stocks dropped 0.8 percent. Porsche shares gained 0.5 percent despite a reported 28 percent decline in China deliveries.

US President Donald Trump is reportedly addressing trade deals, maintaining a firm stance on tariffs amid ongoing negotiations. He has threatened an additional 10 percent tariff on countries aligning with what he terms "anti-American" BRICS policies, following the bloc's Rio de Janeiro summit criticism of US tariff measures. Letters detailing new rates, ranging from 25 to 40 percent for 14 countries including Japan and South Korea, are being sent, with the 1 August deadline unchanged despite earlier flexibility hints.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.