Good morning.

Stocks have pulled back from the records set last week as tariff threats returned to the forefront over the weekend … while additional punishment … I mean tariffs … could be placed on countries aligning themselves with BRICS “anti-American” policies.  Keep in mind that this group (originally: Brazil, Russia, India, China) was formed to counterbalance what was seen as economic domination by much wealthier countries … though, frankly, I completely forgot this was even an organization until seeing the tariff threat publicized over the weekend.

The big news which did dominate the headlines, of course, was the terrible tragedy in Texas.

There is a call out this morning asking people to stop sending their “personal drones” out to record things … as it has interfered with rescue efforts. But this is the world we live in now, I guess. It seems that everything is being filmed today, and people’s first reaction when seeing something is to reach for their phones to record something … instead of stepping in and helping in those first few seconds as they realize there may be a problem.

There is one pretty good thing I did learn this morning that I think many can use and you might want to try this.

Do you how you look at photos … or videos … and words on a shirt or a poster are “backwards?”  This has driven me crazy.  A quick fix is to just go to the settings on your iPhone, go to “camera” and turn off “mirror front camera.”  Now your “selfie” photos and videos will be corrected with no need for others to try to decipher just what is pictured.

What happens when a CEO loses focus?

Once again it seems that Elon Musk could be turning attention away from his company as he claims to be forming a “new political party.”  And as a result, Tesla is taking quite a hit this morning (down around 7%) as his recent promise to focus on the company seems to have taken a back seat.

Could this have an effect?  Maybe.  Keep in mind that the total spending on the 2024 election was something on the order of $16 billion dollars … and that is including congress … depending on what news source you are reviewing.  With a reported net worth in excess of $300 billion (even after today’s decline), Elon Musk might be able to create quite a bit of noise … especially if he teams up with other high rollers.

I’ll close this out today as I am recovering from the weekend … which was a pleasant one.

I visited with my uncle … who is fully recovered after hurting himself last year when fireworks he was holding blew up earlier than he anticipated.

He was back to his old self … doing his usual great deal of entertaining.

Excited to see me for the first time since his accident …

… he even gave me a “high four.”

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

A Look At The News | July 7, 2025 As of 10:52 AM today: Tariffs … and the weaponization of tariffs … are back in play this morning … as goods from countries that “side with” policies of certain countries will face additional costs (BBC) https://www.bbc.com/news/articles/c1dnz7gw92zo   … meanwhile the U.S. debt situation continues to climb … and while many have wrongly (so far) claimed this will collapse our economy … the voices continue to raise alarms (CNBC) https://www.cnbc.com/2025/07/07/how-the-us-deficit-could-spark-a-crisis-.html   Many feel one thing that can help boost the economy is … well … more births … but this is not affordable for many and … besides … will infringe on good times (NPR) https://www.npr.org/2025/07/07/nx-s1-5388357/birth-rate-fertility-replacement-pronatalist-politics   It is known that a big cost for airlines is fuel … and each lighter load means more for the bottom line.  Should heavier passengers pay more than others?  Interesting … (TheWorldinMyPocket) https://www.theworldinmypocket.co.uk/airline-considering-charging-passengers-based-on-weight/   Does daydreaming make you smarter?  It could help in a lot of ways … so feel free to put your feet up and dream on … even if it is during working hours (MedicalNewsToday) https://www.medicalnewstoday.com/articles/letting-your-mind-wander-could-help-you-learn   Stroll up to a supermarket deli counter and you’ll see a smattering of available meats.  As convenient as this might be, medical people warn against processed meat (ScienceAlert) https://www.sciencealert.com/massive-review-finds-no-safe-level-of-processed-meat-consumption The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.