Good morning investors! The market didn’t move much yesterday but we heard from the President (again).
Today we cover:
New tariffs coming
Boeing delivery numbers
Saving money and barriers
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📊 Economy and News
Trump's Tariff Plans: 50% on Copper, 200% Threatened on Pharmaceuticals
President Donald Trump announced a 50% tariff on all copper imports to the US, though the implementation date remains unclear. September futures on copper hit $5.89 a pound shortly after the news.
Declared during a Cabinet meeting, this marks Trump’s fourth major tariff in his second term, following 25% tariffs on cars and car parts and 50% tariffs on steel and aluminum.
A Section 232 investigation into copper imports, initiated in February for national security reasons, underpins this move. The US imported $17 billion in copper last year, primarily from Chile, and prices surged 38% this year, hitting a record $5.68 per pound in New York.
Trump also threatened a 200% tariff on pharmaceuticals to encourage domestic manufacturing, with no confirmed timeline.
An investigation into drug imports started in April. Additionally, Trump delayed “reciprocal” tariffs until August 1 and has been notifying other countries of potential new tariff rates. Also, he warned that the U.S. would "pretty soon" charge a 10% tariff on imports from BRICS countries.
Global hits:
Supreme Court allows Trump to proceed with large-scale government agency staff cuts, reorganizations.
Gold ETFs drew largest inflow in five years during first half of 2025.
Brazil’s retail sales miss forecasts, fall for second straight month.
German exports fell in May as US tariffs frontloading ends.
Exciting: Americans' inflation expectations remained steady last month, with one-year forecasts slightly down to 3% from 3.2%, while three- and five-year outlooks stayed at 3% and 2.6%, respectively, according to the New York Federal Reserve. Households reported improved views on their finances and credit access.
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📈 Stocks
S&P 500 6,225.52 (-0.072%)
DJIA 44,240.76 (-0.37%)
NASDAQ 20,418.46 (+0.029%)
BRENT CRUDE 70.03 (-0.21%)
* Prices as of Jul 9th, 12:20 AM UTC
Boeing picks up again
Boeing delivered 60 airplanes in June 2025, up 27% from June 2024, including eight to Chinese customers, marking the first deliveries to China since a resolved U.S.-China trade dispute. Aircraft deliveries are closely tracked by Wall Street because planemakers collect much of their payment when they hand over jets to customers.
Deliveries included 42 737 MAX jets, nine 787s, four 777 freighters, and five 767s, with three for Boeing’s defense division as KC-46 tankers.
Southwest Airlines received 10 737 MAX jets, while Chinese airlines took five 737 MAXes, one 787, and two 777 freighters.
This follows 44 deliveries in May 2025 and 45 in June 2024.
For the first half of 2025, Boeing delivered 280 jets: 206 737 MAXes, 37 787s, 14 767s, 20 777s, and three 737s for P-8 Poseidons. Increased deliveries are vital for Boeing to stabilize finances amid debt from production setbacks.
Boeing booked 116 gross orders in June, including 54 737 MAXes and 62 787s, with Alaska Airlines ordering 12 737s and British Airways ordering 32 787s.
Singapore Airlines canceled three 737 MAX orders. This follows a strong May, Boeing’s sixth-highest order month ever.
Year-to-date, Boeing secured 668 gross orders (625 net after cancellations). In comparison, Airbus delivered 63 aircraft in June, including 43 A320/A321s, 12 A220s, three A330s, and five A350s.
Market Turbulence: FICO Slips, Chemicals Soar, and Solar Stumbles
Fair Isaac Corporation ($FICO) saw its stock drop 8.91% after the Federal Housing Finance Agency (FHFA) approved VantageScore 4.0 for mortgage lending, challenging FICO's long-standing dominance in credit scoring for government-sponsored enterprises like Fannie Mae and Freddie Mac ($FMCC, down 0.52%). FICO scores are used by 90% of top U.S. lenders, but the FHFA’s decision, announced Tuesday by Director Bill Pulte, allows mortgage lenders to adopt VantageScore 4.0 for credit evaluations, threatening FICO’s market grip.
Meanwhile, Albemarle ($ALB, up 7.21%) and other chemical producers rallied following the Federal Reserve’s decision to withdraw 2023 regulations restricting 18 chemical substances, signaling a deregulatory boost for the industry.
The solar sector, however, faced sharp declines after critical remarks from the president. First Solar ($FSLR, down 6.54%) and Sunrun ($RUN, down 11.43%) were hit hard as the president signed an executive order eliminating green energy tax breaks and “preferential treatments” for green tech. Labeling solar power “stupid” and “ugly,” his actions and rhetoric further pressured the industry.
Good to know: Jeff Bezos sells $666 million in Amazon stock as part of plan to unload 25 million shares.
IBM introduced Power11 servers to enhance AI, hybrid cloud, and critical workloads in banking, healthcare, and retail. Featuring quantum-resistant security and on-chip AI, they launch in Q4.
Novo Nordisk applied to the EMA for a 7.2 mg Wegovy dose, with trials showing 21% average weight loss and a well-tolerated safety profile.
Shein files for Hong Kong IPO in hopes of salvaging London listing
Tesla: Schwab reveals Tesla tops retail investor buys in June with tech names like Nvidia and Microsoft being major sells. However, CNBC thinks that Tesla is in deeper trouble than we think.
💵 Personal Finance
Barriers to Saving
Struggling to save? It could be due to these reasons:
1. Instant Gratification
Barrier: Humans are naturally drawn to immediate rewards, often prioritizing short-term pleasures over long-term benefits. This tendency can manifest in impulsive spending, which undermines savings goals.
Actionable Tips:
Implement the “48-Hour Rule”: Delay non-essential purchases by 48 hours to reflect on whether the item is truly necessary. This pause often leads to more rational decision-making.
Reframe Savings as Gratification: Focus on the satisfaction of watching your savings grow. Consider each deposit a step closer to achieving meaningful goals.
2. Fear of Missing Out (FOMO)
Barrier: The fear of missing out, especially on social experiences or trends, can lead to overspending and neglecting savings goals.
Actionable Tips:
Prioritize Personal Financial Health: Shift focus from fleeting experiences to long-term stability. Remind yourself that true contentment comes from financial security.
Limit Social Media Exposure: Reduce time spent on platforms that amplify social comparisons and spending pressures.
Barrier: The desire to “keep up with the Joneses” is intensified by social media, where others’ purchases and lifestyles are constantly on display. This can lead to spending beyond your means.
Actionable Tips:
Cultivate Gratitude: Regularly reflect on what you have rather than what you lack. This mindset reduces the urge to compete with others.
Unfollow Triggers: Avoid accounts or ads that promote extravagant lifestyles or unnecessary purchases.
4. Financial Illiteracy
Barrier: A lack of financial education can make budgeting and saving feel overwhelming, leading to poor money management.
Actionable Tips:
Seek Financial Education: Take advantage of online courses, books, and workshops to improve your understanding of budgeting, saving, and investing.
Use Budgeting Tools: Apps like YNAB can simplify the process of tracking income and expenses.
5. Psychological Anchoring
Barrier: Early life experiences often shape financial norms, making it challenging to adopt a savings mindset if overspending was normalized.
Actionable Tips:
Reevaluate Financial Beliefs: Consciously question and redefine the financial habits you inherited. Align them with your personal values and goals.
Engage with Positive Role Models: Surround yourself with individuals who prioritize saving and financial health.
6. Avoidance and Denial
Barrier: Anxiety around money can lead to avoidance, preventing individuals from confronting their financial realities.
Actionable Tips:
Start Small: Begin by reviewing bank statements or creating a simple budget. Incremental progress builds confidence.
Seek Support: Consider financial therapy or counseling to address deeply rooted money anxieties.
7. Lack of Clear Goals
Barrier: Without specific savings targets, it’s easy to procrastinate or lose motivation.
Actionable Tips:
Set SMART Goals: Create goals that are Specific, Measurable, Achievable, Relevant, and Time-bound.
Visualize Your Goals: Use vision boards or progress charts to keep your objectives top of mind.
The Role of Temporal Discounting
A key psychological concept behind these barriers is temporal discounting, where immediate rewards seem more valuable than future ones. This tendency can sabotage long-term goals, as spending often feels more rewarding than saving. By understanding this bias, individuals can consciously shift their perspective, viewing saving as a pathway to future gratification.
💰 Be a Better Investor
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