Traders In New York Overlook New and Expanding Tariff Threats

Barry Adams
10 Jul, 2025
New York City

Stocks in New York fluctuated around the flatline, and investors awaited the start of earnings season next week. 

The S&P 500 index edged down 0.1%, and the tech-heavy Nasdaq Composite inched higher 0.2%, following a rebound in the previous session.

Investors are increasingly looking beyond the ongoing Trump administration's efforts to prolong the trade negotiations with key trading partners. 

The latest combination of threats to Japan and South Korea and a new wave of sector-specific tariffs did little to sway the market's opinion about the U.S. president: "Trump always chickens out."

Trump announced a 50% tariff on imported copper and slapped a 50% tariff on Brazil, largely in retaliation for the current trial against the former president Jair Bolsonaro for his role in an alleged plot to overturn his loss in the 2022 presidential election.

 

U.S. Stock Movers 

Delta Air Lines jumped 13.1% to $57.33 after the company reinstated its 2025 earnings outlook.

The international carrier said full-year earnings per share are expected to range between $5.35 and $6.25, and estimated cash flow between $3 billion and $4 billion.

Bassett Furniture Industries incorporated gained 7.4% to $18.27 after the furniture maker’s net income swung to a profit in the fiscal second quarter.

Consolidated revenue in the quarter inched higher to $84.3 million from $83.4 million, net income swung to a profit of $1.9 million from a loss of $7.2 million, and diluted income per share swung to a profit of 22 cents from a loss of 82 cents a year ago.

For the fiscal year 2025, revenue decreased to $166.5 million from $170 million, net income swung to a profit of $3.7 million from a loss of $8.3 million, and diluted income per share swung to a profit of 43 cents from a loss of 96 cents a year ago.