Good morning investors! Stocks hit another high yesterday to start this new and exciting week.
Today we cover:
15-20% is the new baseline tariff
Stocks to go higher?
Insider selling
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📊 Economy and News
Trump Announces 15-20% Global Baseline Tariff
President Donald Trump announced a likely 15-20% baseline tariff onn imports from countries without trade agreements with the U.S., effective August 1.
Speaking in Turnberry, Scotland, alongside UK Prime Minister Keir Starmer, Trump emphasized the tariff's necessity due to the impracticality of negotiating deals with 200 countries.
This rate, higher than the previously announced 10%, aligns with recent 15% tariffs on Japan and most European goods, though some nations face rates up to 40-50%.
The Trump administration appears unpressured to secure additional deals, with U.S. Trade Representative Jamieson Greer noting the president's readiness to implement tariffs without agreements.
Global hits:
EUR is emerging as the next strongest safe haven as BoFA says trend followers have recovered their positions on long EUR/USD trades.
UK retail downturn stretches into 10th month, says UBS.
India’s industrial output rises 1.5% year-on-year in June.
Bank of Canada expected to hold interest rates steady for the third time.
Look here: Chinese exports to U.S. could decrease by $485 billion by 2027: Tariff simulator. Also, Trade court won’t reinstate tariff exemption on low-value ‘de minimis’ shipments, for now.
Sponsored by Pacaso
Austin Allison is familiar with using tech to disrupt real estate – his first venture, dotloop, was acquired for $120M. But despite bringing industry fame, one nagging regret remained.
"I always wished we gave retail investors the chance to invest in dotloop and share that success," Allison later said.
Now he’s doing just that. Austin built upon that experience to launch Pacaso, the co-ownership marketplace disrupting the $1.3T vacation home industry. And it’s working.
They’ve surpassed $110M in gross profit to date, including 41% YoY growth last year. They’ve earned backing from firms like Maveron and Greycroft. They even reserved the Nasdaq ticker PCSO. And unlike dotloop, you can become an investor in Pacaso as a private company.
Disclaimer: This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving the ticker symbol is not a guarantee that the company will go public. Listing on the Nasdaq is subject to approvals.
📈 Stocks
S&P 500 6,389.77 (+0.018%)
DJIA 344,837.56 (-0.14%)
NASDAQ 21,178.58 (+0.33%)
BRENT CRUDE 74.03 (+2.34%)
* Prices as of Jul 29th, 12:20 AM UTC
Stocks to rally?
JPMorgan traders predict the stock market will continue rising until Nvidia’s earnings report on August 28, 2025, driven by resilient macro data, positive earnings growth, and easing trade war concerns.
The S&P 500 has surged 30% from its April 7 low, reaching consecutive record highs last week.
Key events this week include the Federal Reserve’s rate decision on Wednesday, the July jobs report and Trump’s tariff deadline on Friday, and earnings from Meta and Microsoft on Wednesday, followed by Amazon and Apple on Thursday.
Recent trade deals have bolstered market optimism. Nvidia, up 80% from its 2025 low after a nine-week rally, may trigger a sell-off post-earnings due to historical seasonal weakness, with August typically flat and September the weakest month.
JPMorgan remains tactically bullish but cautions that Nvidia’s report could prompt a market pause.
Some others are bullish too. Oppenheimer has reinstated its bullish S&P 500 year-end forecast of 7,100, implying an 11% upside from Monday’s close, after raising it from 5,950.
The firm had previously lowered its target following steep tariff announcements on April 2, but recent trade agreements have alleviated concerns, boosting market optimism.
Check this: Huawei reclaimed the No. 1 position in China’s smartphone market for the first time since the first quarter of 2024. Whereas, Apple shipped 10.1 million smartphones in the quarter in China, up 4% year on year, thanks to changes in prices.
Lastly, PayPal will now let merchants accept cryptocurrencies thanks to a new feature called “Pay with Crypto”.
Surprising: Spirit Airlines to furlough 270 pilots, downgrade more than 100 others as it prepares to cut flights. Elsewhere, Alibaba to launch AI-powered glasses creating a Chinese rival to Meta.
Nike surged toward 5-month highs after an upgrade from JPMorgan.
💵 Personal Finance
Insider Stock Sales Summary
Insider selling, when company executives or major shareholders sell their shares, can indicate various things about a company's financial health or future prospects, but it’s not always a negative signal.
It may suggest that insiders believe the stock is overvalued or anticipate challenges like declining earnings or market conditions, prompting them to lock in profits or diversify their portfolios. However, it could also reflect personal financial needs, such as funding major purchases or estate planning, rather than a lack of confidence in the company.
Context matters—high-volume, coordinated selling by multiple insiders might raise red flags, while routine or pre-scheduled sales (e.g., through 10b5-1 plans) are often less concerning.
So let’s look at major recent insider stock sales:
BlackRock
Shares Sold: 31,300 (26,900 + 4,400)
Average Price per Share: $1,120
Total Sale Value: $35.19 million
Impact on Holdings: Reduced by ~10% and 56% for respective transactions
Stock Performance (3 Months): +22%
QuantumScape
Shares Sold: 1,000,000
Average Price per Share: $11.62
Total Sale Value: $11.62 million
Impact on Holdings: Not specified
Stock Performance (3 Months): +185%
Goldman Sachs
Shares Sold: 22,100 (9,500 + 6,600 + 6,000)
Average Price per Share: ~$718.38 (weighted average)
Total Sale Value: $15.93 million
Impact on Holdings: Reduced by ~30% for one transaction; others not specified
Stock Performance (3 Months): +32%
ServiceTitan
Shares Sold: 31,200
Average Price per Share: $112.60
Total Sale Value: $3.51 million
Impact on Holdings: Reduced by 94%
Stock Performance (3 Months): -1%
Jabil
Shares Sold: 13,400
Average Price per Share: $223.11
Total Sale Value: $3 million
Impact on Holdings: Reduced by 14%
Stock Performance (3 Months): +52%
Delta Air Lines
Shares Sold: 35,000
Average Price per Share: $56.29
Total Sale Value: $1.97 million
Additional Sales: ~$6.5 million in total insider sales since early July
Impact on Holdings: Not specified
Stock Performance (3 Months): +32%
United Airlines
Shares Sold: 20,000
Average Price per Share: $92.23
Total Sale Value: $1.84 million
Impact on Holdings: Reduced by 24%
Stock Performance (3 Months): +35%.
Here’s an interesting video on the topic:
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.