By Alex Veiga Apsociate Press Business Writer
U.S. stocks have been low in early trading Monday as the Trump administration put pressure on trading partners to trade before the Wednesday deadline.
The S&P 500 was 0.3% lower as trading resumed in the US after a reduced week of holiday. The benchmark index was close to the best ever set last week.
The Dow Jones industrial average was 96 points (0.2%) as of 9:54am Eastern time, while the Nasdaq Composite was 0.5% lower.
Bond yields were mixed. The Treasury yield rose to 4.37% from 4.34% in the second half of Thursday.
Tesla has knocked 7.9% down 7.9% by 7.9% with the biggest drop in the S&P 500 shares as the feud between CEO Elon Musk and President Donald Trump reignited over the weekend. Musk, a former Trump top donor and ally, said he would form a third party in protest of the Republican spending bill passed last week.
The Trump administration has planned to issue a warning as early as Monday, warning that higher tariffs could kick on August 1. President Trump and his top trade advisers said over the weekend that tariff deadlines could be extended if the president is in good faith concessions and negotiations.
According to Nomura’s analysts, the early modern outlook could depend on several key factors, such as Trump’s letter, tariff percentage, and the extent to which trading partners are included on the effective date of such tariffs.
Most sectors in the S&P 500 index were in the red, led by technology and consumer-related stocks.
Oracle fell 2.5%, while Chipotle Mexican Grill fell 2.2%.
Molina Healthcare fell 6% after insurers lowered profit guidance to accelerate rapidly. UnitedHealth Group recently reported a surge in costs that forces stock prices to fall in April.
This week’s downbeat start came to another record high last week after a strong stock run followed by a better-than-expected US employment report.
Oil prices have fluctuated after OPEC+ agreed to increase by 548,000 barrels a day on Saturday.
US benchmark crude rose 0.5%, while international standard Brent crude rose 1%.
European stock indexes were pretty much high. Asian markets have been closed almost low.
Original issue: July 7, 2025, 8:54am EDT
