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Musk to launch new political party, Trump threatens BRICS tariff: Morning Buzz

The major averages were broadly lower near noon as investors brace for potential new tariffs and fresh political friction. Sentiment remains fragile after President Trump signaled over the weekend that additional duties could target BRICS-aligned nations and with formal tariff letters expected as soon as July 9, traders look reluctant to add risk. Meanwhile, Treasury Secretary Scott Bessent told CNBC Monday that there would be a number of trade announcements over the next 48 hours, though he declined to specify which other nations would be involved.

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Looking to commodities, gold prices have edged lower but still remain above $3,300. Oil prices are marginally higher, inching closer to the $70 level.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. Also, subscribe to the daily Fly By on YouTube if you want to know how the markets will open, which stocks will be moving and why. 

1. STOCK NEWS:

2. WALL STREET CALLS:

3. AROUND THE WEB:

  • Google (GOOGL) told publishers it is hiring new staff to market its ad tech to big advertisers and ad agencies, signaling a renewed focus on publisher ad tech, The Information reports
  • Clorox (CLX) is using generative AI for ad creation, brainstorming new products, and analyzing consumer reviews as part of a five-year, $580M digital overhaul, WSJ says
  • Nissan (NSANY) is in talks to allow Foxconn (HNHPF) to use one of its domestic factories to build electric vehicles, a deal that could save the plant from closure, Reuters reports
  • Apple (AAPL) has taken a challenge against EU regulators after they were fined $587M for breaching rules from the Digital Markets Act, DMA, Reuters says
  • While the rest of the beer industry is experiencing a difficult year, AB InBev’s (BUD) Michelob Ultra is growing by pitching its low-calorie, low-carb brews to health-conscious consumers, WSJ says

4. MOVERS:

5. EARNINGS/GUIDANCE:

INDEXES:

Near midday, the Dow was down 0.86%, or 386.78, to 44,441.75, the Nasdaq was down 0.73%, or 149.92, to 20,451.19, and the S&P 500 was down 0.70%, or 44.11, to 6,235.24.

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