STOCKS/ECONOMY
-Stock futures are lower as investors are seemingly taking a pause in the midst of a strong rally that's been going for most of the last three months. Trade negotiation developments are in focus this morning as well.
-The yield on the 10-year Treasury bond is at 4.36 percent.
-Gold is at the $3,310 per ounce level. Bitcoin is at the $108,600 level.
-Asian markets closed lower today. The Nikkei lost 0.6 percent, the Hang Seng fell 0.1 percent, and the Shenzhen dropped 0.7 percent.
OIL/ENERGY
-U.S. crude prices are flat and at the $66 a barrel level.
-Gasoline prices are down to $3.14 a gallon, national average.
TARIFF TWO-STEP
-President Trump now says the new deadline for tariffs to be imposed is August 1st, when this Wednesday was the deadline previously. He's also threatening to slap an extra 10 percent tariff on BRICS nations, but was not more specific than that.
-But Treasury Secretary Scott Bessent also says that several new trade agreement announcements are on the way.
MUSK MANIA
-Tesla (TSLA) shares are down 6 percent in the premarket as investors react to Elon Musk's further foray into politics with his establishment of a third political party in the U.S.
PROGRAM POWER
-More food and beverage chains are using customer loyalty programs to keep their customers despite rising prices. More than 59 percent of Starbucks’ (SBUX) U.S. transactions in the second quarter came from members of its rewards program. Chipotle (CMG) says its loyalty members make up about 30 percent of sales each day.
DINO-MITE!
-"Jurassic World Rebirth" grossed a strong $147 million at the box office for the July 4th weekend in the U.S. and $318 million globally. Universal Studios' parent company Comcast (CMCSA) shares are still down 1 percent in the premarket.
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