ADDX GO Market Morning Wrap - 12th July
Stock Market
On Friday, July 11. At the close, the Dow Jones Industrial Average fell 0.63% to 44,371.51 points; the S&P 500 dropped 0.33% to 6,259.75 points; and the Nasdaq Composite declined 0.22% to 20,585.53 points.
On a weekly basis, all three indices turned negative, with the Dow down 1.02%, the S&P 0.31%, and the Nasdaq 0.08%. The prior day, the S&P 500 and Nasdaq had briefly hit record highs.
Major tech stocks showed mixed results, with Nvidia up 0.5% to a new high, Google, Amazon, and Tesla rising over 1%, while Meta and Oracle fell more than 1%. “Stablecoin leader” Circle dropped 7.67%.
The previous trading day, Trump announced a 35% tariff on Canadian imports effective August 1, citing fentanyl inflows and “unfair trade practices.”
He also plans a uniform 15% or 20% tariff on nearly all untaxed trade partners, sending tariff letters to countries like Korea and Japan this week and imposing a 50% tariff on all U.S.-imported copper from August 1.
Art Hogan, Chief Market Strategist at B. Riley Wealth Management, noted that trade rhetoric heated up this week without initial market impact, “but severing ties overnight with one of our key partners was deeper than expected.”
Matt Maley, Chief Market Strategist at Miller Tabak, suggested Trump’s aggressive tariff stance is pushing stocks lower, “with the market overbought and valuations very expensive, a pullback’s timing feels ripe.”
Global Hotspots
U.S. Senate Military Committee Approves $500M Aid to Ukraine
On July 11, the U.S. Senate Military Committee approved $500 million in security aid to Ukraine as part of its 2026 National Defense Authorization Act draft.
Trump Promises ‘Major Statement’ on Russia, NATO Responds
On July 10, Trump claimed the U.S. and NATO agreed to send weapons to Ukraine, with NATO footing the bill, and teased a “major statement” on Russia for July 14, details undisclosed.
Israel Official: Gaza Ceasefire Talks Stall in Past 24 Hours
An Israeli official said late July 11 that new ceasefire talks in Doha stalled due to disagreements with Hamas over Israeli withdrawal from Gaza, with no progress in the last 24 hours.
Company News
Kraft Heinz Reportedly Considers Major Spin-Off
Kraft Heinz is said to be exploring a significant spin-off, potentially divesting a large portion of its grocery business, with the new entity valued at up to $20 billion.
Latest Apple Leak: M5 Chip May Debut on iPad, Smart Home Hardware Delayed to 2026
Tech leaker Mark Gurman’s latest article outlines Apple’s 2026 early lineup, delaying the new MacBook Pro to next year and pushing an AI-powered smart home hub to mid-2026, both highly watched by markets.
Forex & Commodities
Oil prices rose, with NYMEX August light crude futures up $1.88 to $68.45 per barrel (up 2.82%) and Brent September futures up $1.72 to $70.36 per barrel (up 2.51%).
Spot gold gained 0.94% to $3,355.7 per ounce, and spot silver surged 3.8% to $38.406 per ounce.
The U.S. Dollar Index rose 0.29% to 97.87 at New York’s close, with most non-dollar currencies weakening.
Key Events
Spot Silver Surges to Near 14-Year High, New York Premiums Soar Amid Supply Crunch
With rising U.S. market premiums and tightening London spot supply, silver hit its highest since 2011 at $38.41 per ounce in New York, up over 3.7% intraday.
Year-to-date, it’s up 32%, outpacing gold’s 27%. September silver futures rose over 4.3% to $39 per ounce.
Cryptocurrency
Major digital assets rose late Friday. Bitcoin gained 4% to $118,074, with 24-hour volume up 91% to $123.66 billion.
Ethereum (ETH-USD) rose 6.9% to $3,004. XRP (XRP-USD) gained 13.8%, BNB (BNB-USD) climbed 2.6%, Solana (SOL-USD) rose 3.3%, Dogecoin (DOGE-USD) advanced 14%, and Cardano (ADA-USD) climbed 13.9%.
The crypto market’s total value rose 4.9% to $3.7 trillion, with volume up 71.8% to $262.41 billion.
Key Events
BlackRock’s ETHA Sees Record $320M Inflow
Data shows BlackRock’s ETHA fund netted 106,827 ETH ($320 million) on Thursday, a single-day inflow record. Its ETH holdings now exceed 2 million, valued at $6 billion.