Stock Market Update
11-Jul-25 10:30 ET
Canada tariff will not affect USMCA goods
Dow -223.40
at 44042.56,
Nasdaq +1.22
at 20631.88,
S&P -16.80
at 6229.26
[BRIEFING.COM] The major averages have rebounded slightly from their opening lows, with the S&P 500 now down just 0.3%
White House officials say that USMCA goods (a free trade agreement that replaced NAFTA in 2020) will be exempt from the 35% tariff on Canadian imports. Additionally, the lower 10% tariff on Canadian energy will remain in place.
The development has the energy sector ticking upwards, with a current gain of 0.2%.
The technology sector (+0.3%) is also moving in the right direction, with strength from top component NVIDIA (NVDA 167.05, +2.95, +1.8%) leading the way. The move has the tech-heavy Nasdaq Composite unchanged for the day, which maintains its position in positive territory for the week.
