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Lockheed Martin Receives $140M in Tariff Refunds
Lockheed Martin received approximately $140 million in refunds related to prior tariff assessments, according to an SEC filing. The company said it does not currently expect existing tariffs to have a material long-term impact on its operations.
US Existing Home Median Price Hits Record $408,776 in June
The median sale price of existing US homes rose 2.2% year-over-year in June to a record $408,776, driven by luxury purchases. San Francisco led gains at +9.2%, with closed sales surging 23.8%.
US Official: New Tariff Measures Not a Replication of Struck-Down IEEPA Tariffs
A U.S. official stated that the latest trade measures are not a simple copy of the IEEPA tariffs previously struck down by the Supreme Court. The president will use all available tools, including tariffs, to pursue his policy objectives.
U.S. Exempts Oil, Gas, Fertilizer, Food from Tariffs Citing North American Supply Chains
A U.S. official announced exemptions for oil and gas, fertilizer, certain foodstuffs, Section 232 goods, and USMCA-compliant products from tariffs, citing integrated North American supply chains and high U.S. content levels.
U.S. Section 301 Tariffs Effective July 24, Goods in Transit by July 28
New U.S. Section 301 tariffs take effect July 24 at 12:01 a.m. ET, with goods in transit deadline July 28 as Section 122 tariffs expire.
US Unveils Tariff Rates Based on Forced Labor Prohibition: 10% vs 12.5%
A US official announced new tariff measures largely following a June proposal, imposing a 10% rate on countries with forced labor bans and 12.5% on those without. Some nations, including India, have seen their rates reduced from 12.5% to 10%.
Trump Administration Unveils Section 301 Tariffs to Combat Forced Labor
New tariffs under Section 301 target forced labor in goods production. A U.S. official stated that no other country enforces forced labor bans to the U.S. level, creating an unfair advantage.
US Imposes Forced-Labor Tariffs of 10%-12.5%, Exempts Oil, Gas, Fertilizer, Food
The United States has replaced the prior 10% global duty with forced-labor tariffs ranging from 10% to 12.5% on many nations, while exempting oil, gas, fertilizer, and foodstuffs.
Carney Says US Trade Rep's USMCA Comments Align with Existing Framework
Carney stated that the US Trade Representative's remarks on interim USMCA agreements are consistent with the current framework, and highlighted that Canada's relationship with Mexico remains strong and is deepening.
Canadian PM Carney Says 'Everything Is on the Table' If US Tariff Deal Fails
Canadian Prime Minister Carney stated that all options remain open if the US and Canada fail to reach an agreement on the latest US tariff threats, noting that recent talks with US officials demonstrated seriousness and breadth in the trade relationship.
China Uses Russia Ties to Gain Ukraine War Battlefield Expertise
China is reportedly leveraging its partnership with Russia to acquire battlefield experience and advanced military knowledge from the war in Ukraine, including drone operations, submarine stealth, missile defense, and intelligence capabilities, according to The Economist.
Chinese Banks Halt Retail Paper Gold Trading, Raising Pricing Control Questions
Several large Chinese banks have announced plans to suspend retail paper gold trading, sparking speculation about a coordinated push by China to influence global gold pricing and reduce Western dominance.
Silver's Crisis Rally Fails as Dollar Absorbs Safe-Haven Flows
Silver has declined during two Strait of Hormuz closures this year, as the US dollar attracted safe-haven bids instead of the metal.
Japanese Insurers Boost JGB Purchases to 3-Year High in June
Japanese insurers bought $3.9 billion of long-term government bonds in June, the largest monthly purchase in three years, signaling a sharp reversal from prior selling and renewed institutional demand.
U.S. Forces Redirect 12 Ships, Disable One in Iran Naval Blockade
U.S. Central Command reported that since resuming the naval blockade on Iran nine days ago, forces have redirected 12 commercial vessels and disabled one ship to prevent maritime traffic to and from Iranian ports.
Fitch: US Credit Outlook Tied to Sustained AI Investment Confidence
Fitch Ratings states that the U.S. credit outlook increasingly depends on sustained confidence in AI investment, as the sector plays a growing role in driving economic and credit conditions.
Iran Rejects 10-Day Ceasefire Proposal in Hormuz, Diplomatic Track Blocked
Iran has refused to accept a proposed 10-day ceasefire in the Strait of Hormuz, and the diplomatic track is stalled, according to two sources cited by i24news.
US Job Postings on Indeed Hit Near 2021 Lows, Down 37% Since 2022
Indeed data shows US job postings fell 3.5% YoY in the week ending July 10, with new postings dropping 10.9% YoY. Vacancies are now just 1% above pre-pandemic levels, signaling further labor market softening.
Congress Splits on War Powers Resolutions to Abandon Iran War
The Senate voted 47-49 to kill a joint resolution under the War Powers Act that would have forced President Trump to end hostilities in Iran.
Trump Says Considering Massive Attack on Iran, Israel to Join Within Minutes
U.S. President Donald Trump stated he is close to deciding on a new military operation against Iran, describing it as a "massive attack greater than anything before" and claiming Israel would join within minutes, per Israel's N12.
Volatility, Oil Prices, Bond Yields Combine to Spook Stock Markets
Surging volatility, rising oil prices, and climbing bond yields are creating market anxiety, according to Chris Beauchamp, Chief Market Analyst at an online trading and investing platform.
Trump Says He Is 'Close' to Decision on 'Massive Attack' on Iran
President Trump stated he is close to deciding on a massive attack against Iran, describing it as 'bigger than ever before' and that Israel would join quickly if asked.
Crude Oil Surges as Market Shifts Focus From Headlines to War Premium
Crude oil prices staged a sharp one-day advance, driven by a shift in market attention from headline news to the tangible risks of war, with traders pricing in a conflict premium despite multiple wire headlines.
Nasdaq 100 Sinks Over 2.5% as Iran Tensions, Tech Earnings Weigh
The Nasdaq 100 fell more than 2.5% amid an escalation in the Iran conflict and disappointing technology earnings, wiping $900 billion off the S&P 500's market cap.