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Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average I:DJI  rose Thursday as the U.S. readies $34 billion of tariffs on China-made goods.
  • U.S. automakers were higher after a report said Donald Trump could suspend his threat to slap a new 25% tariff on imports from the European Union.
  • The private sector in the U.S. added 177,000 jobs in June, according to the ADP National Employment Report, lower than economists' forecasts.

Wall Street Overview

Stocks ended near the day's highs on Thursday, July 5, even as the latest Fed minutes showed growing concern over trade tensions and a day before the first major wave of U.S. tariffs on Chinese goods is slated to go into effect.

The Dow Jones Industrial Average I:DJI   rose 182 points, or 0.75%, to 24,357, the S&P 500 undefined  gained 0.86% and the Nasdaq I:IXIC  rose 1.1%.

China's Commerce Ministry spokesman, Gao Feng, told reporters Thursday that around 60% of the goods earmarked for tariffs from the White House, and set to kick in on Friday, July 6, were made by non-Chinese companies, including American-owned companies. The $34 billion in levies, he argued, were "essentially attacking global supply and value chains. To put it simply, the U.S. is opening fire on the entire world, including itself." Stocks in Shanghai fell 0.9%.

A report from Germany's Handelsblatt newspaper said U.S. Ambassador Richard Grenell told executives at Germany's biggest carmakers that President Trump would suspend his threat to slap a new 25% tariff on imports if the European Union removed its levies on U.S. cars heading into the bloc.

U.S. automakers -- Ford Motor Co. (F) - Get Ford Motor Company Report  , General Motors Co. (GM) - Get General Motors Company (GM) Report and Fiat Chrysler Automobiles NV (FCAU) - Get Fiat Chrysler Automobiles N.V. Report  -- were rising on the report. The report also sparked the European auto sector.

Global oil prices tumbled Thursday after Trump attacked OPEC again, demanding the cartel cut crude prices, and the Energy Information Administration reported a surprise increase in weekly crude supplies.

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Donald J. Trump@realDonaldTrump

The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $'s. This must be a two way street. REDUCE PRICING NOW! 

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The private sector in the U.S. added 177,000 jobs in June, according to the ADP National Employment Report. Economists surveyed by FactSet had expected a gain of 190,000 jobs. The ADP report is a precursor to the official U.S. jobs report for June, which will be released on Friday.

Boeing Co. (BA) - Get Boeing Company Report and Brazilian jet maker Embraer SA (ERJ) - Get Embraer S.A. Sponsored ADR Report  agreed to establish a strategic partnership, allowing the Chicago-based company to control Embraer's commercial business. Boeing edged higher on Thursday, while American depositary receipts of Embraer fell 10.3%.

Under the terms of the agreement, Boeing and Embraer will form a joint venture, consisting of Embraer's commercial airplane and services business and Boeing's commercial development, production, marketing and lifecycle services operations. Boeing will hold an 80% ownership stake in the joint venture, and Embraer will own the remaining 20%.

Micron Technology Inc. (MU) - Get Micron Technology, Inc. (MU) Report  was up 2.6% despite being slapped with a preliminary injunction on the company's sale of 26 DRAM and NAND flash memory products within China. Micron said Thursday it expects the injunction to hurt its revenue in its fiscal fourth quarter by 1%.

ZTE Corp. (ZTCOY) named a number of new top executives, including a new CEO, as the Chinese telecommunications company presses ahead with U.S.-mandated leadership changes, The Wall Street Journal reported, citing a person familiar with the matter. 

Praxair Inc. (PX) agreed to sell the majority of its businesses in Europe to Taiyo Nippon Sanso Corp. of Japan for €5 billion ($5.85 billion) to address European regulators' concerns over its planned $80 billion merger with Germany's Linde AG. Praxair rose 3%.

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