Stock Market Update

[BRIEFING.COM] It is a new quarter, but the market's buy-the-dip inclination has remained intact. Shortly after the top of the hour, Bloomberg TV reported that the president isn't thinking about extending the tariff pause past July 9 and that he doubts the U.S. will make a deal with Japan. The president added that Japan could pay "30%, 35%, or whatever tariff we determine."

The market hit an air pocket when those headlines hit but wasted little time getting back on track and returning to levels seen just before those headlines hit. Arguably, it clung to its belief that this tough-sounding rhetoric from the president might simply be a negotiating tactic and that, ultimately, a worst-case scenario will be avoided.

Time will tell if that is the case, but with the closing bell less than 30 minutes away, the market cap-weighted S&P 500 is little changed and much closer to its high for the session (6,210.78) than it is to its low (6,177.97).