Trump Tariff Blitz Unleashes Delayed Shock to Global Economy:

Image source: Wikimedia Commons

Four months after Donald Trump shocked the world and roiled markets by unveiling a placard full of tariff rates at the White House Rose Garden, his revisions unveiled Thursday generated a more subdued response among investors.

But at an average of 15%, the world is still facing some of the steepest US tariffs since the 1930s, roughly six times higher than they were a year ago.

Trump’s latest volley outlined minimum 10% baseline levies, with rates of 15% or more for countries with trade surpluses with the US.

So far, the global economy has held up better than many economists expected after Trump’s initial tariff blitz. A rush to beat the elevated rates spurred a front-loading of exports, aiding many Asian economies and shielding US consumers from price spikes.

That could all be about to change. Yahoo Finance reports.

🎉 Design software maker Figma extends gains after blockbuster NYSE trading debut:

Design software maker Figma's shares rose another 10% in premarket trading on Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market.

The San Francisco, California-based company's shares closed at $115.5 on Thursday, compared with its IPO price of $33. The 250% surge lifted Figma's market value to nearly $68 billion, far exceeding the $20-billion valuation in a now-scrapped buyout deal with Photoshop maker Adobe.

Figma's $1.22-billion offering, the fourth-largest U.S. IPO of the year, is being seen as a potential catalyst for other startups eyeing a flotation after a three-year freeze in the tech listings market. Yahoo Finance reports.

🛢️ Exxon beats profit estimates with higher production despite weak oil prices:

Exxon Mobil beat Wall Street estimate for second-quarter profit on Friday as higher oil and gas production helped the top U.S. oil producer overcome lower crude prices.

Adjusted earnings during the second quarter were $7.1 billion, or $1.64 per share, surpassing consensus analyst estimates of $1.56 per share, according to data compiled by LSEG.

Oil and gas production was the highest for any second quarter since the company was formed by the merger of Exxon and Mobil more than 25 years ago, the oil producer said.

The energy sector has struggled with price volatility as the OPEC+ group of producers ramped up volumes, pushing global benchmark Brent crude prices down 11% in the quarter.

Global tariffs levied by US President Donald Trump caused further concerns about a weakening global economy and oil demand. Yahoo Finance reports.

🌨️ Amazon slides after cloud computing growth underwhelms investors:

Amazon.com shares dropped nearly 8% before the bell on Friday, after growth in its cloud computing unit failed to impress investors, in contrast to the robust gains reported by AI-focused rivals Alphabet and Microsoft.

Amazon Web Services represents a small part of Amazon's total revenue, but it is a key driver of profit, typically accounting for about 60% of the company's overall operating income.

"While Microsoft and Alphabet have already shown strong momentum in cloud growth, AWS wasn't the knockout many wanted to see, highlighting just how tightly investor sentiment is tied to the AI narrative right now," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.

While AWS reported a 17.5% increase in revenue during the second quarter, sales for Microsoft's Azure jumped 39% and Google Cloud gained 32%. Profit margin of the Amazon division also contracted. Reuters reports.

🧻 Kleenex tissue maker Kimberly-Clark's quarterly sales jump on strong demand:

Kimberly-Clark on Friday posted a rise in second-quarter organic sales and beat profit estimates, led by steady demand for products such as Huggies diapers and Kleenex tissues in domestic and international markets.

The Dallas-based firm has broadened its portfolio to offer products from budget to premium price tiers, in an effort to capture demand across income levels and combat competition from rivals such as Procter & Gamble.

The company has also been streamlining its business to control costs and drive growth in more profitable brands. In June, it struck a $3.4 billion deal to sell a majority stake in its international tissue business to Brazilian pulp maker Suzano.

Shares of the company were up about 2% in premarket trading. Reuters reports.

👩‍💻 Reddit’s stock is soaring after earnings. This is why:

Shares of Reddit Inc. jumped about 18% in extended trading Thursday after the social-media platform’s second-quarter results blew past Wall Street’s expectations for revenue and earnings, boosted by surging ad revenue and robust user growth.

Reddit’s daily active users topped Wall Street’s expectations for the second straight quarter, growing 21% on a year-over-year basis to 110.4 million. Analysts surveyed by FactSet were looking for 109.02 million daily active users. MarketWatch reports.

📊 Stocks Buckle Under Trump Tariffs; Amazon Slumps:

Global stocks extended a selloff as President Donald Trump’s sweeping import tariffs fueled concerns about the outlook for economic growth.

Futures on the S&P 500 retreated more than 1%, suggesting the underlying gauge will extend a three-day run of declines. Amazon slumped as much as 8% in premarket trading as its underwhelming earnings introduced a note of caution amid a generally upbeat reporting season for tech megacaps. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $NAMM: Namib Minerals

Total gain: +93.93%

2) $MWYN: Marwynn Holdings

Total gain: +41.11%

3) $FDMT: 4D Molecular Therapeutics

Total gain: +29.99%

4) $BTAI: BioXcel Therapeutics

Total gain: +28.24%

5) $SHPH: Shuttle Pharmaceuticals

Total gain: +17.8%

The closing price of the top three market percent gainers trading near or above $3 on July 31.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $SNGX: Soligenix

Total gain: +131.19%

The company announced that it has completed its Phase 2a proof-of-concept study evaluating SGX945 (dusquetide) for the treatment of Behçet's Disease and has achieved its primary objective of demonstrating biological efficacy. Yahoo Finance reports.

2) $PAPL: Pineapple Financial

Total gain: +69.31%

The stock appeared to be moving on no notable news.

3) $ELWS: Earlyworks

Total gain: +50.67%

The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


XOM: Exxon Mobil
2Q 2025

Before Market Open
Estimate: 1.530
Actual: 1.640

REGN: Regeneron Pharmaceuticals
2Q 2025

Before Market Open
Estimate: 7.550
Actual: 12.890

SATS: EchoStar
2Q 2025

Before Market Open
Estimate: -1.040
Actual: -1.060

Time (ET) | Report | Period

8:30 am - U.S. employment report - July

8:30 am - U.S. unemployment rate - July

“One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I wait for a situation that is like the proverbial “shooting fish in a barrel.”

- Jim Rogers

Sourced in: “Street Smarts: Adventures on the Road and in the Markets”, by Jim Rogers, published in 2013.