Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Monday, July 7, 2025. Today’s Stock On The Contrarian Radar features Tesla (TSLA 0.00%↑) and can be read at the bottom of this page.
State of Play
B, with President Trump threatening new tariffs on countries that side with policies by BRICS nations. That is weighing on things as we eye or board of indicators for signs of direction at 0830 ET:
Stock index futures are down but off of the lows. Small caps are seeing the worst of it with the Russell 2000 down 0.5%. S&P 500 and Nasdaq are down about 0.3% each;
Bonds are seeing a bit of selling as well. The 10-year yield is up 4 basis points to 4.36% (yields move inversely to prices);
Commodities are mixed. WTI crude oil is up 0.7% to trade around $67/barrel but copper is down 0.5%. Gold and silver are dropping as well, perhaps an indication the market isn’t taking this latest tariff stuff very seriously. Both are down 1-1.5%;
Cryptos are unchanged. Bitcoin is up 0.5% to trade around $108,600.
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