A JPMorgan Chase & Co. Wealth Management sign in New York, U.S., on Thursday, July 10, 2025.<\/p>\n
Gabby Jones | Bloomberg | Getty Images<\/p>\n
Friday, Aug. 1 \u2014 the “hard deadline<\/a>” of U.S. President Donald Trump’s updated tariffs \u2014 is less than two weeks away. Investors, however, seem mostly unbothered thus far. For last week, while the Dow Jones Industrial Average dipped marginally, the S&P 500 and Nasdaq Composite rose 0.6% and 1.5% respectively.<\/p>\n Even a report that Trump wanted a minimum of 15%-20% tariffs on the European Union only dealt a minimal blow to markets, which mostly closed unchanged Friday. Although those figures are higher than the universal 10% baseline tariff<\/a> Trump reportedly wanted \u2014 and which the EU is hoping to secure \u2014 they are still lower than the 30% Trump said he will impose on the bloc in his July 12 letter<\/a>.<\/p>\n An upbeat start to earnings season has also helped to quell tariff fears for now. Around 83% of the S&P 500 companies that have reported earnings have exceeded expectations<\/a>, according to FactSet data. In particular, big banks such as JPMorgan Chase<\/a> and Goldman Sachs<\/a>, which serve as barometers for economic activity, had solid beats, boosting investor sentiment.<\/p>\n Next in the spotlight are Big Tech earnings, which will be released in the weeks right before Aug. 1. If better than expected, they might dispel geopolitical jitters \u2014 or cause investors to dismiss trade fears too readily. In these stormy times, every silver lining has a dark cloud.<\/p>\n What you need to know todayAnd finally…<\/p>\n Bottles of whiskey sit on a shelf at Mike’s Whiskey Store downtown.\u00a0<\/p>\n Peter Kneffel | Picture Alliance | Getty Images<\/p>\n