Toyota, Honda, and other Japanese automakers rally as trade deal slashes their US tariff rate to 15%

Investors are pouring into Japanese auto stocks following Japan’s fresh trade deal with the US, which slashes levies on Japanese auto imports to 15% from 27.5%.

Shares of Toyota, Honda, and Mazda all soared by double digits Wednesday morning, while rivals Nissan and Suzuki also climbed.

The trade deal implies that Japanese automakers made the right call — at least in terms of building negotiating power with President Trump — by eating the brunt of tariffs. Toyota’s tariff cost for April and May alone was more than $1 billion.

That doesn’t mean US automakers are happy about it. A trade group representing Detroit’s Big Three admonished the deal, criticizing the lower rate for vehicles built in Japan than for those built in Canada or Mexico but with a greater amount of US parts.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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