July 7, 2025

Markets:

Stock futures pulled back Monday after the U.S. clarified that new tariffs will take effect August 1, not July 9 as previously expected.

Tesla shares dropped nearly 7% in premarket trading following CEO Elon Musk’s weekend announcement of plans to launch a political group called the “America Party.” Investors continue to express concern that Musk’s political involvement is weighing on the Tesla brand and hurting sales.

Meanwhile, markets found some optimism in comments from Treasury Secretary Scott Bessent, who told CNBC that multiple trade-related announcements are expected within the next 48 hours.

On Sunday, President Donald Trump and Commerce Secretary Howard Lutnick confirmed that tariffs will officially begin August 1, with Lutnick stating, “The president is setting the rates and deals now,” while Trump nodded in agreement.

Portfolio:

The hated rally rolls on as we kick off the week post-holiday, holding setups in BULL and AUR.

Last week’s holiday-thinned volume is behind us, and as markets normalize, we expect more opportunity with increased participation. The queue continues to heat up, and with a new quarter underway, we'll be closely watching early flow to identify emerging themes.

Be ready — volume is returning, and we could be in for a busy, opportunity-filled week.