CNBC Daily Open: The silver lining of positive earnings could be too blinding

Friday, Aug. 1 — the "hard deadline" of U.S. President Donald Trump's updated tariffs — is little than 2 weeks away. Investors, however, look mostly unbothered frankincense far. For past week, portion the Dow Jones Industrial Average dipped marginally, the S&P 500 and Nasdaq Composite roseate 0.6% and 1.5%, respectively.

Even a study that Trump wanted a minimum of 15%-20% tariffs connected the European Union lone dealt a minimal stroke to markets, which mostly closed unchanged Friday. Although those figures are higher than the universal 10% baseline tariff Trump reportedly wanted — and which the EU is hoping to unafraid — they are inactive little than the 30% Trump said helium volition enforce connected the bloc successful his July 12 letter.

An upbeat commencement to net play has also helped to quell tariff fears for now. Around 83% of the S&P 500 companies that person reported net person exceeded expectations, according to FactSet data. In particular, large banks specified arsenic JPMorgan Chase and Goldman Sachs, which service arsenic barometers for economical activity, had coagulated beats, boosting capitalist sentiment.

Next successful the spotlight are Big Tech earnings, which volition beryllium released successful the weeks close earlier Aug. 1. If amended than expected, they mightiness dispel geopolitical jitters — oregon origin investors to disregard commercialized fears excessively readily. In these stormy times, each metallic lining has a acheronian cloud.

Aug. 1 is simply a 'hard deadline' for caller tariffs. U.S. Commerce Secretary Howard Lutnick said Sunday that the tariffs volition instrumentality effect adjacent month, but near unfastened the anticipation of continuing commercialized negotiations aft the date.

U.S. banal futures are small changed Sunday stateside. On Friday, the S&P 500 and Nasdaq Composite closed astir the flatline. The Dow Jones Industrial Average, however, mislaid 0.32%. Asia-Pacific markets traded mixed Monday.

China keeps its benchmark lending rates steady. On Monday, the People's Bank of China announced it was holding the 1-year indebtedness premier rate astatine 3.0% and the 5-year LPR astatine 3.5%. After the move, the offshore yuan remained mostly flat.

Huawei has evolved from a telecom elephantine to artificial quality leader. Despite — oregon precisely due to the fact that of — restrictions imposed connected the Chinese institution by the U.S. successful 2019, Huawei has achieved breakthroughs successful its chips and appears to beryllium Beijing's reply to Nvidia.

[PRO] The beneficiary of a foldable telephone from Apple. While the Cupertino-based institution has yet to merchandise a foldable — dissimilar its rivals specified arsenic South Korea's Samsung and China's Honor — buyers are already lining up for a potential large supplier.