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- 30% Tariffs on E.U./Mexico, Earnings Season Kickoff
30% Tariffs on E.U./Mexico, Earnings Season Kickoff
Tom White
July 14, 2025
U.S. stock futures are slightly lower ahead of the Wall Street open as investors contend with continued tariff risks.
President Donald Trump said Saturday that the U.S. will impose 30% tariffs on the European Union and Mexico starting Aug. 1. Leaders of the E.U. and Mexico indicated they intend to keep talking with the Trump administration this month in an attempt to agree on a lower rate.
Trader focus will be on the kick-off to earnings season that begins tomorrow along with inflation data this week.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 1.5% near $69.50 a barrel and reached their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while higher oil imports by China also offered support.
Gold (/GC) – Gold prices are up 0.5% near $3380 and hit a three-week high overnight, boosted by safe-haven demand after U.S. President Donald Trump threatened tariffs on the E.U. and Mexico, while silver hit a more than 13-year peak.
Bitcoin (/BTC) – The Crypto Future is up 3% near 122K in the premarket. Bitcoin hit record highs above 123K overnight. The rally has seen bitcoin reach new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their biggest day of inflows in 2025 at $1.18 billion.
VIX – The CBOE Volatility Index rose 4% on Friday and settled at 16.40 as stocks were lower.
U.S. Dollar (/DX) – The dollar is flat at 97.5.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
KVUE | Kenvue | +6.14% |
ANSS | Ansys | +5.47% |
ADSK | Autodesk | +4.85% |
WAT | Waters | -5.36% |
PTC | PTC | -4.40% |
HSIC | Schein Henry | -2.82% |
Economic Data
Time | Event |
|---|---|
11:30AM ET | 3-Month Bill Auction 6-Month Bill Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
FAST | None | ACI, BK, BLK, C, ERIC, JPM, STT, WFC | HWC, JBHT, OMC |
Upgrades/Downgrades
Seaport Research upgrades MasterCard (MA) to Buy from Neutral
Seaport Research upgrades PayPal (PYPL) to Neutral from Sell
BTIG upgrades Ally Financial (ALLY) to Neutral from Sell
Piper Sandler downgrades Best Buy (BBY) to Neutral from Overweight
Morgan Stanley downgrades CrowdStrike (CRWD) to Equal Weight from Overweight
BTIG downgrades Affirm (AFRM) to Neutral from Buy
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