By Joe Woelfel

Stocks were mixed Tuesday after President Donald Trump said he wouldn't be extending the new Aug. 1 date for when his so-called reciprocal tariffs would take effect.

"TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change," Trump posted on Truth Social.

These stocks were moving Tuesday:

Tesla was up 2.9% after the stock fell 6.8% on Monday. CEO Elon Musk announced over the weekend he would be forming a new political party and his foray again into politics had investors selling shares of the electric-vehicle maker. Musk was strongly opposed to Trump's tax-and-spending bill that was signed into law Friday. The legislation removes purchase tax credits worth up to $7,500 for qualifying EVs. Tesla shares, coming into Tuesday, have declined 27% this year.

Amazon.com fell 1.3%. The company's members-only, four-day Prime Day sales event has begun and runs through July 11. For the first time since its inception a decade ago, the event is scheduled to run for four days across 20 countries, instead of the typical two days. Justin Post, an analyst at BofA Securities, said Prime Day could generate more than $21 billion in gross merchandise value, up 60% from last year.

Exxon Mobil rose 2.3% even after the energy giant warned that second-quarter earnings could take a hit of $800,000 to $1.2 billion from lower crude prices and $300,000 to $700,000 from lower gas prices.

Sunrun fell 11%, Enphase Energy was down 2.6%, and First Solar declined 3.4% after the White House said it would " rapidly eliminate the market distortions and costs imposed on taxpayers by so-called 'green' energy subsidies." Meanwhile, Sunrun was upgraded to Sector Weight from Underweight at KeyBanc, while Enphase Energy was downgraded to Hold from Buy at TD Cowen.

Datadog was falling 4.8% to $145.17 after shares of the software maker were downgraded to Sell from Neutral at Guggenheim with a price target on the stock of $105. The analysts said they made the call "ahead of potential significant optimization by OpenAI, which we believe is Datadog's largest customer." Guggenheim said its "tactical positioning is based on our belief that OpenAI's observability software roadmap is shifting towards more cost efficient, in-house managed technologies, and our model setup that indicates 2H risk."

SoFi Technologies was up 4.4% after the fintech expanded access to alternative investments to include new private markets funds from asset management firms like Cashmere, Fundrise, and Liberty Street Advisors.

Nvidia shares gained 0.6%. The maker of artificial-intelligence chips declined 0.7% on Monday and ended the session with a market capitalization of $3.861 trillion.

Uber Technologies was down 1.2%. The ride-share company closed at a record high of $96.68, rising 3.3% in the session. Analysts at Wells Fargo on Monday maintained their Overweight rating on the stock and raised their price target to $120 from $100. Uber has risen 60% this year, according to Dow Jones Market Data.

Merit Medical Systems said it expects second-quarter revenue of $380 million to $384 million, better than analysts' forecasts of $372.5 million, and named Martha Aronson as chief executive and president. She will succeed Fred Lampropoulos, who founded the company in 1987 and has been chief executive since then. Shares rose 4.6%.

Earnings reports are expected Tuesday from Kura Sushi USA and Aehr Test Systems.

Write to Joe Woelfel at joseph.woelfel@barrons.com

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(END) Dow Jones Newswires

July 08, 2025 11:17 ET (15:17 GMT)

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