Market Commentary: Tuesday 8th July

Stocks have recovered from yesterday’s slight wobble, with the consensus being that most countries will at least get to August 1st, and many other major nations are close to interim deals that will keep temporary tariffs on the lower end beyond this date. Japan and South Korea appear to be the top trading partners most at risk, with 25% levies signaled to begin on August 1st.

Trump has also signaled that more defense weapons will be shipped to Ukraine after Russia sent a record number of drones and missiles at the country.

Elsewhere, Apple has lost its top executive in charge of AI to Meta, in a blow to its AI efforts. Jane Street has informed its employees that India's securities regulator has made "many erroneous or unsupported assertions" about its trading activity.

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