Business

Wall Street opens mixed amid new U.S. tariffs

Herz — Business Desk · 24 July 2026 at 15:27 · 30s summary · 3 min read

The essentials

On July 24, 2026, Wall Street opened largely unchanged amid competing pressures from new U.S. tariffs and technology sector earnings. Washington imposed 10% to 12.5% tariffs on goods from 60 countries, including the European Union and China, citing insufficient implementation of forced labor prohibitions. Tech giants Alphabet and Tesla reported capital expenditures exceeding market expectations the previous day. Brent crude fell 2.5% to approximately $98 per barrel after spiking above $101. U.S. Treasury yields reached levels unseen since mid-2007, with 30-year bond yields exceeding 5% and 10-year yields at 4.68%.

Washington imposes 10%–12.5% tariffs on goods from 60 countries on July 24, 2026
Wall Street opens stable; Alphabet and Tesla report capex above market expectations
Brent crude falls to ~$98/barrel after peaking above $101 on Thursday, July 23
U.S. Treasury 30-year yields exceed 5%, unprecedented since mid-2007
Microsoft, Meta, Amazon, and Apple earnings due next week

Illustration image — forextime.com, CC BY 2.0, Wikimedia Commons

What we know

On July 24, 2026, major Wall Street indices—the Dow Jones, S&P 500, and Nasdaq—opened mixed, trading largely unchanged, according to Handelsblatt.

That same day, Washington imposed tariffs of 10% and 12.5% on goods from 60 trading partner countries, replacing a temporary measure that had expired.

The Trump administration justified these tariffs by pointing to insufficient implementation of forced labor prohibitions. The European Union and China were among the targeted countries.

Reaction and analysis

German business representatives denounced what they called a "Zolldschungel"—a "tariff jungle"—that they described as impossible to navigate.

Thomas Altmann, portfolio manager at QC Markets, argues that these tariffs do not represent a new burden on U.S. trading partners and should not trigger significant market swings.

Quarterly earnings from major technology stocks

On July 23, 2026, Alphabet (Google's parent company) and Tesla—two members of the informal market grouping known as the "Magnificent Seven"—reported capital expenditures exceeding market expectations.

Kyle Rodda, analyst at capital.com, notes that investors are scrutinizing capital spending levels more closely than profit figures themselves among major tech companies.

Serge Nussbaumer, capital markets expert at Maverix, argues that this earnings season demonstrates the market no longer rewards growth at any price.

Next week, more than one-third of S&P 500 companies by market capitalization will report earnings, including Microsoft, Meta Platforms, Amazon, and Apple.

Timeline: Volatile oil markets

Early week (July 21–22, 2026)
Brent crude settles around $88 per barrel.
July 23, 2026
Brent crude temporarily exceeds $101 per barrel. Alphabet and Tesla report quarterly earnings with capex above expectations.
July 24, 2026
Wall Street opens largely unchanged. New tariffs (10%–12.5% on 60 countries) take effect. Brent crude falls to ~$98; WTI to ~$90.