CNBC Daily Open: More tariff letters are out, but investors have their eyes on AI

Just this greeting Singapore time, U.S. President Donald Trump said that the 50% tariff connected copper imports, which he announced earlier connected Tuesday, volition statesman connected Aug. 1.

On Wednesday, Trump posted a caller slate of tariff letters connected goods from astatine slightest 7 much countries, including Mexico, the no. 1 importer of goods to the U.S., Philippines, Brunei and Sri Lanka. 

But the president took a fewer steps further with Brazil by threatening a 50% tariff connected the country. This is partially successful effect to the ongoing proceedings of his vocal state Jair Bolsonaro implicit the relation of Brazil's erstwhile president successful an alleged coup to overturn his 2022 reelection loss.

The 50% tariff connected Brazil marks the largest duties complaint that the White House has imposed connected its trading partners successful the caller circular of caller levies, which are acceptable to statesman connected Aug. 1. 

But it appears that investors person decided to attack Trump's tariffs by not responding astatine all. They look to person shifted their absorption distant from tariff developments and alternatively rekindled their appetite for artificial intelligence.

On Wednesday, traders boosted shares of Nvidia, causing the institution to beryllium the archetypal successful the satellite to interaction a marketplace capitalization of $4 trillion. Other large tech names besides rose, including Meta Platforms, Microsoft and Alphabet.

New tariff developments. Trump revealed updated tariff rates connected the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka, via screenshots connected Truth Social. The 50% work connected copper imports is acceptable to kick successful connected Aug. 1.

U.S. stocks emergence arsenic capitalist appetite for AI rekindles. On Wednesday, each 3 large U.S. benchmarks were up. The Nasdaq Composite precocious 0.94% to adjacent astatine a caller precocious of 20,611.34. The Stoxx Europe 600 climbed 0.78%.

Starbucks China draws bids of up to $10 billion. About 30 home and overseas backstage equity firms successful China person submitted non-binding offers for the java chain's Chinese business, sources acquainted with the woody told CNBC.

Most Fed officials spot complaint cuts coming, but are divided connected however many. Officials saw tariff-induced ostentation pressures arsenic perchance "temporary and modest" portion economical maturation and hiring could weaken, minutes from the June 17-18 gathering released Wednesday showed.

[PRO] AI is inactive reigning implicit the market. Chipmaker Nvidia concisely passed $4 trillion successful marketplace worth connected Wednesday, the archetypal institution ever to bash so. Being the world's astir invaluable institution is not a motion of imperishable superiority. But Wall Street sees more imaginable successful Nvidia. 

The hidden resistance connected China's economy

Falling existent property prices are the elephant successful the country erstwhile it comes to China's economy. Even arsenic authorities person tried to code the fiscal risks, the spot marketplace is acold from rebounding.

The interaction of the spot slump has continued to measurement connected user sentiment and existent estate-related industries. It's a cleanable tempest of events weighing connected China's economy, adjacent without a commercialized war.

— Evelyn Cheng