The major averages closed mixed as President Donald Trump offered no exceptions to his Aug. 1 tariff start date with other tariffs on other countries and commodities. The Dow Jones Industrial Average slipped 165 points, or 0.37%. The S&P 500 fell 4 points while the Nasdaq rose 5 points.

Trump posted on Truth Social that there would be no change or extensions granted to the Aug. 1 date. The same day, Trump also announced a steep 50% tariff on copper imports.

Freeport McMoran jumped over 2% on the news.

Other diamonds in the commodity space included the oil and energy stocks has the price of oil rose half a percent. Exxon, Chevron, Conoco and EOG were all up 3% or more.

Chip stocks also performed well with Micron up over 3% while Intel jumped 7% on cost cut moves. Nvidia rose a percent closing in on a $4 trillion market cap.

The banks were a weak link today with the big banks getting downgraded. JP Morgan, Bank of America and Citigroup were down 3% each.

Gold was down nearly a percent while bitcoin rose half a percent.

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