Brightstar Resources (BTR:AU) has announced Drilling recommences at Yunndaga
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New Expansion Hole Intersects 279 Metres Averaging 0.49 % Cu
Nine Drill Rigs Now Active on Site
Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.
Osisko Metals Chief Executive Officer Robert Wares commented: ‘Today’s new results continue to confirm the large-scale potential of mineralization at Gaspé Copper. Expansion hole 30-1090 in particular has intersected a significant mineralized width, underscoring the excellent prospects for increasing the size of the known deposit towards the south. The program is advancing well, with a ninth drill rig added recently to accelerate the definition and expansion program.’
Significant new analytical results are presented below and include 25 mineralized intercepts from eight drill holes (Table 1). The infill intercepts are all located inside the defined 2024 Mineral Resource Estimate model (‘MRE’, see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. The expansion intercepts are all located outside the 2024 MRE model and may lead to additional resources that will be classified appropriately within the next MRE update. Maps showing hole locations are available at www.osiskometals.com .
Highlights:
- Drill hole 30-1090
- 279.0 metres averaging 0.49% Cu (expansion)
- 108.0 metres averaging 0.84% Cu (expansion)
- Drill hole 30-1078
- 256.5 metres averaging 0.25 % Cu (infill)
- 381.0 metres averaging 0.22 % Cu (expansion)
- Drill hole 30-1079
- 319.5 metres averaging 0.28 % Cu (infill)
- 180.0 metres averaging 0.37 % Cu (expansion)
- Drill hole 30-1081
- 301.8 metres averaging 0.41% Cu (infill)
- 44.5 metres averaging 0.23 % Cu (expansion)
- Drill hole 30-1084
- 471.4 metres averaging 0.25 % Cu (infill)
- 55.4 metres averaging 0.33 % Cu (expansion)
- 89.7 metres averaging 0.29 % Cu (expansion)
- Drill hole 30-1080
- 520.5 metres averaging 0.23 % Cu (infill)
- 195.0 metres averaging 0.26 % Cu (expansion)
Table 1: Infill and Expansion Drilling
| DDH No. | From (m) | To (m) | Width (m) | Cu % | Ag g/t | Mo % | CuEq* | Type |
| 30-1077 | 129.0 | 201.0 | 72.0 | 0.22 | 2.71 | 0.24 | Infill | |
| And | 291.0 | 313.5 | 22.5 | 0.23 | 2.62 | 0.009 | 0.28 | Infill |
| And | 384.0 | 399.0 | 15.0 | 0.52 | 3.73 | 0.55 | Infill | |
| And | 428.5 | 450.7 | 22.2 | 0.30 | 2.33 | 0.006 | 0.34 | Infill |
| And | 481.5 | 553.5 | 72.0 | 0.19 | 1.41 | 0.013 | 0.25 | Expansion |
| And | 603.8 | 777.0 | 173.2 | 0.27 | 1.49 | 0.035 | 0.42 | Expansion |
| 30-1078 | 6.0 | 262.5 | 256.5 | 0.25 | 1.79 | 0.008 | 0.29 | Infill |
| And | 307.5 | 688.5 | 381.0 | 0.22 | 1.69 | 0.022 | 0.32 | Expansion |
| 30-1079 | 22.5 | 342.0 | 319.5 | 0.28 | 2.14 | 0.008 | 0.32 | Infill |
| And | 456.0 | 636.0 | 180.0 | 0.37 | 2.54 | 0.007 | 0.41 | Expansion |
| (Including) | 480.7 | 481.8 | 1.1 | 8.66 | 35.2 | 8.84 | Expansion | |
| 30-1080 | 15.0 | 535.5 | 520.5 | 0.23 | 1.02 | 0.013 | 0.29 | Infill |
| And | 774.0 | 969.0 | 195.0 | 0.26 | 1.28 | 0.030 | 0.39 | Expansion |
| 30-1081 | 42.0 | 71.0 | 29.0 | 0.16 | 1.79 | 0.18 | Infill | |
| And | 94.0 | 395.8 | 301.8 | 0.41 | 3.36 | 0.006 | 0.45 | Infill |
| (Including) | 322.3 | 330.0 | 7.7 | 1.99 | 14.58 | 2.08 | Infill | |
| And | 445.5 | 490.0 | 44.5 | 0.23 | 1.32 | 0.28 | Expansion | |
| 30-1084 | 5.6 | 477.0 | 471.4 | 0.25 | 1.95 | 0.009 | 0.30 | Infill |
| And | 522.6 | 578.0 | 55.4 | 0.33 | 2.64 | 0.041 | 0.51 | Expansion |
| And | 616.8 | 706.5 | 89.7 | 0.29 | 1.93 | 0.012 | 0.35 | Expansion |
| 30-1086 | 14.1 | 166.5 | 152.4 | 0.18 | 0.73 | 0.19 | Infill | |
| And | 219.0 | 250.5 | 31.5 | 0.22 | 1.13 | 0.23 | Infill | |
| And | 433.1 | 466.5 | 33.4 | 0.25 | 1.12 | 0.26 | Infill | |
| And | 888.5 | 949.5 | 61.0 | 0.23 | 0.98 | 0.009 | 0.27 | Expansion |
| 30-1090 | 15.0 | 294.0 | 279.0 | 0.49 | 3.35 | 0.51 | Expansion | |
| (Including) | 66.0 | 72.0 | 6.0 | 3.34 | 14.42 | 0.019 | 3.49 | Expansion |
| (Including) | 164.0 | 172.7 | 8.7 | 2.24 | 9.78 | 2.29 | Expansion | |
| And | 331.5 | 357.0 | 25.5 | 0.24 | 1.96 | 0.26 | Expansion | |
| And | 417.0 | 525.0 | 108.0 | 0.84 | 7.79 | 0.89 | Expansion | |
| (Including) | 433.4 | 445.3 | 11.9 | 3.00 | 30.46 | 3.20 | Expansion |
Notes: Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.
Table 2: Drill hole locations
| DDH No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation |
| 30-1077 | 0 | -90 | 879 | 316400 | 5425987.8 | 637.7 |
| 30-1078 | 0 | -90 | 837 | 316300 | 5425903 | 608.4 |
| 30-1079 | 0 | -90 | 780 | 316298 | 5425814 | 584.3 |
| 30-1080 | 0 | -90 | 976 | 315500 | 5426425 | 580.0 |
| 30-1081 | 0 | -90 | 490 | 316505 | 5425800 | 584.9 |
| 30-1084 | 0 | -90 | 816 | 316397 | 5425889 | 606.9 |
| 30-1086 | 0 | -90 | 978 | 315500 | 5426320 | 580.0 |
| 30-1090 | 0 | -90 | 675 | 316477 | 5425532 | 565.7 |
Drill hole 30-1090 intersected new mineralization located 105 metres south of the 2024 MRE model, returning 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag (including 8.7 metres averaging 2.24% Cu and 9.8 g/t Ag) ; a second intercept in this same hole (below the base of the 2024 MRE model) returned 108 metres averaging 0.84% Cu and 7.79 g/t Ag , extending mineralization to a vertical depth of 525 metres.
Drill hole 30-1078 (located in the south-central deposit) intersected 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag , followed by a second intercept of 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag , extending mineralization 280 metres below the base of the 2024 MRE model to a vertical depth of 688 metres.
Drill hole 30-1079 (located in the south-central deposit) intersected 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag , followed by a second intercept of 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag , extending mineralization 307 metres below the base of the 2024 MRE model to a vertical depth of 636 metres.
Drill hole 30-1081 (located in the south-central deposit) intersected 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag ( including 7.7 metres averaging 1.99% Cu and 14.6 g/t Ag at the level of the C Zone skarn ), followed by a second intercept of 44.5 metres averaging 0.23% Cu and 1.32 g/t Ag, extending mineralization 146 metres below the base of the 2024 MRE model to a vertical depth of 490 metres.
Drill hole 30-1084, also located in the south-central portion of the deposit, intersected 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by a second intercept at depth of 55.4 metres averaging 0.33% Cu and 2.64 g/t Ag, and a third deeper intercept of 89.7 metres averaging 0.29% Cu and 1.93 g/t Ag, extending mineralization 306 metres below the base of the 2024 MRE model to a vertical depth of 706 metres.
Drill hole 30-1080 (located at the northwest end of the deposit) intersected 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag , followed by a second intercept of 195.0 metres averaging 0.26% Cu and 1.28 g/t Ag , extending mineralization 418 metres below the base of the 2024 MRE model to a vertical depth of 969 metres.
Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).
The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.
All holes were drilled sub-vertically into the altered calcareous stratigraphy, which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.
The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
Explanatory note regarding copper-equivalent grades
Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.00/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent consultant, is at ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com , or contact:
Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129
Cautionary Statement on Forward-Looking Information
This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9056bd4b-e68d-4dd1-a787-1f3b346d2cde
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9ed8b2-4c21-47aa-9923-f5e30da77ff4
News Provided by GlobeNewswire via QuoteMedia
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US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.
“I believe the tariff on copper, we’re going to make 50 percent,” Trump said during a White House cabinet meeting.
Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.
The announcement triggered immediate market reaction. According to Reuters, copper futures for September delivery surged 13 percent on the day, closing at US$5.6855 per pound—its biggest single-day jump since 1989.
Traders cited fears of a supply crunch and price volatility as buyers scrambled to secure US-bound shipments ahead of the tariff implementation.
The decision marks a culmination of a months-long process that began in February, when Trump signed an executive order instructing the Department of Commerce to investigate whether copper imports posed a national security threat under Section 232 of the Trade Expansion Act of 1962.
The rarely used statute gives the president broad authority to impose tariffs or quotas if imports are deemed harmful to national defense or essential industries.
The copper tariff follows a similar pattern established during Trump’s first term, when the White House used Section 232 to levy tariffs on steel and aluminum.
Since returning to office, Trump has expanded his use of the provision to include automobiles, pharmaceuticals and critical minerals like rare earths.
Countries in the crosshairs
The brunt of the copper tariff is expected to fall on key US trade partners — most notably Chile, Canada and Mexico, which collectively accounted for the majority of America’s US$17 billion in copper imports in 2024, according to US Census Bureau data.
Chile alone shipped US$6 billion worth of copper to the US last year.
Officials from Chile, Canada and Peru, have pushed back against the measure, arguing their exports pose no threat to US national security and citing long-standing free trade agreements.
However, none have been granted exemptions as of Wednesday (July 9), and negotiations remain in limbo.
The looming copper tariff comes on the heels of broader trade actions taken by the Trump administration. On Monday (July 7), the White House imposed stiff tariffs on imports from 14 countries, including Japan, South Korea, Malaysia, South Africa and Kazakhstan.
These levies, effective August 1, targeted a wide range of sectors, from steel and aluminum to automotive parts and textiles.
Despite its relatively small trade deficit in copper — the US exported US$11.3 billion and imported US$9.6 billion worth of the metal in 2024 — the White House argues that the country remains dangerously reliant on foreign refining and processing capacity.
National security as justification
The legal foundation for the copper tariff lies in Section 232, which allows the president to act unilaterally on trade when national security is at stake. Experts say the provision gives Trump more durable legal ground than his recent attempts to use emergency powers to implement broad, country-specific tariffs — some of which are being challenged in federal court.
“Section 232 tariffs are central to President Trump’s tariff strategy,” said Mike Lowell, a trade attorney with ReedSmith, in an interview with CNBC. “They aren’t the target of the pending litigation, and they’re more likely to survive a legal challenge and continue into the next presidential administration.”
The administration’s increasing reliance on Section 232 tariffs reflects a shift toward industrial policy motivated by supply chain security, particularly for materials with dual-use applications in civilian and defense sectors.
Copper is a case in point. Used extensively in electrical wiring, motors, semiconductors and military-grade communications equipment, the red metal has been classified as critical to US infrastructure and defense capabilities.
Analysts point out that demand for the red metal is set to surge in the coming years due to the ongoing energy transition and growing adoption of electric vehicles.
In April, Trump issued a separate executive order launching a Section 232 investigation into US reliance on imported critical minerals and processed rare earths, calling them “essential for national security and economic resilience.” The order cited specific applications in jet engines, missile guidance, radar systems and advanced electronics.
As of Wednesday, no formal timeline had been posted on Trump’s Truth Social account, and details around carve-outs or exemptions remained unclear.
For now, however, Trump appears undeterred. The head of state has already threatened that pharmaceuticals may be next in line for potential action.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Amazon is extending its annual Prime Day sales and offering new membership perks to Gen Z shoppers amid tariff-related price worries and possibly some consumer boredom with an event marking its 11th year.
For the first time, Seattle-based Amazon is holding the now-misnamed Prime Day over four days. The e-commerce giant’s promised blitz of summer deals for Prime members started at 3:01 a.m. Eastern time on Tuesday and ends early Friday.
Amazon launched Prime Day in 2015 and expanded it to two days in 2019. The company said this year’s longer version would have deals dropping as often as every 5 minutes during certain periods.
Prime members ages 18-24, who pay $7.49 per month instead of the $14.99 that older customers not eligible for discounted rates pay for free shipping and other benefits, will receive 5% cash back on their purchases for a limited time.
Amazon executives declined to comment on the potential impact of tariffs on Prime Day deals. The event is taking place two and a half months after an online news report sparked speculation that Amazon planned to display added tariff costs next to product prices on its website.
White House Press Secretary Karoline Leavitt denounced the purported change as a “hostile and political act” before Amazon clarified the idea had been floated for its low-cost Haul storefront but never approved.
Amazon’s past success with using Prime Day to drive sales and attract new members spurred other major retail chains to schedule competing sales in July. Best Buy, Target and Walmart are repeating the practice this year.
Like Amazon, Walmart is adding two more days to its promotional period, which starts Tuesday and runs through July 13. The nation’s largest retailer is making its summer deals available in stores as well as online for the first time.
Here’s what to expect:
Amazon expanded Prime Day this year because shoppers “wanted more time to shop and save,” Amazon Prime Vice President Jamil Ghani recently told The Associated Press.
Analysts are unsure the extra days will translate into more purchases given that renewed inflation worries and potential price increases from tariffs may make consumers less willing to spend. Amazon doesn’t disclose Prime Day sales figures but said last year that the event achieved record global sales.
Adobe Digital Insights predicts that the sales event will drive $23.8 billion in overall online spending from July 8 to July 11, 28.4% more than the similar period last year. In 2024 and 2023, online sales increased 11% and 6.1% during the comparable four days of July.
Vivek Pandya, lead analyst at Adobe Digital Insights, noted that Amazon’s move to stretch the sales event to four days is a big opportunity to “really amplify and accelerate the spending velocity.”
Caila Schwartz, director of consumer insights and strategy at software company Salesforce, noted that July sales in general have lost some momentum in recent years. Amazon is not a Salesforce Commerce Cloud customer, so the business software company doesn’t have access to the online giant’s e-commerce sales and so is not privy to Prime Day figures.
“What we saw last year was that (shoppers) bought and then they were done, ” Schwartz said. “We know that the consumer is still really cautious. So it’s likely we could see a similar pattern where they come out early, they’re ready to buy and then they take a step back.”
Amazon executives reported in May that the company and many of its third-party sellers tried to beat big import tax bills by stocking up on foreign goods before President Donald Trump’s tariffs took effect. And because of that move, a fair number of third-party sellers hadn’t changed their pricing at that time, Amazon said.
Adobe Digital Insights’ Pandya expects discounts to remain on par with last year and for other U.S. retail companies to mark 10% to 24% off the manufacturers’ suggested retail price between Tuesday and Friday.
Salesforce’s Schwartz said she’s noticed retailers becoming more precise with their discounts, such as offering promotion codes that apply to selected products instead of their entire websites.
Amazon Prime and other July sales have historically helped jump-start back-to-school spending and encouraged advance planners to buy other seasonal merchandise earlier. Analysts said they expected U.S. consumers to make purchases this week out of fear that tariffs will make items more expensive later.
Brett Rose, CEO of United National Consumer Supplies, a wholesale distributor of overstocked goods like toys and beauty products, thinks shoppers will go for items like beauty essentials.
“They’re going to buy more everyday items,” he said.
As in past years, Amazon offered early deals leading up to Prime Day. For the big event, Amazon said it would have special discounts on Alexa-enabled products like Echo, Fire TV and Fire tablets.
Walmart said its July sale would include a 32-inch Samsung smart monitor priced at $199 instead of $299.99; and $50 off a 50-Inch Vizio Smart TV with a standard retail price of $298.00. Target said it was maintaining its 2024 prices on key back-to-school items, including a $5 backpack and a selection of 20 school supplies totaling less than $20.
Independent businesses that sell goods through Amazon account for more than 60% of the company’s retail sales. Some third-party sellers are expected to sit out Prime Day and not offer discounts to preserve their profit margins during the ongoing tariff uncertainty, analysts said.
Rose, of United National Consumer Supplies, said he spoke with third-party sellers who said they would rather take a sales hit this week than use up a lot of their pre-tariffs inventory now and risk seeing their profit margins suffer later.
However, some independent businesses that market their products on Amazon are looking to Prime Day to make a dent in the inventory they built up earlier in the year to avoid tariffs.
Home fragrance company Outdoor Fellow, which makes about 30% of its sales through Amazon’s marketplace, gets most of its candle lids, labels, jars, reed diffusers and other items from China, founder Patrick Jones said. Fearing high costs from tariffs, Jones stocked up at the beginning of the year, roughly doubling his inventory.
For Prime Day, he plans to offer bigger discounts, such as 32% off the price of a candle normally priced at $34, Jones said.
“All the product that we have on Amazon right now is still from the inventory that we got before the tariffs went into effect,” he said. “So we’re still able to offer the discount that we’re planning on doing.”
Jones said he was waiting to find out if the order he placed in June will incur large customs duties when the goods arrive from China in a few weeks.
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Just when we thought tariff talk had gone quiet, it’s back on center stage. With the reciprocal tariff deadline landing this Wednesday, President Trump has mailed out notices that new duties will kick in on August 1. Countries such as Japan, South Korea, Malaysia, and Kazakhstan face a 25% levy, while a few others may see steeper rates.
Wall Street didn’t take the news well. On Monday, the S&P 500 ($SPX) closed lower by 0.79%.
Before the July 4 long weekend, the S&P 500 and Nasdaq Composite ($COMPQ) notched fresh record highs, buoyed by solid jobs data. But like migratory birds, tariffs circled back on Monday and pushed stocks lower almost across the board.
Monday’s performance can be encapsulated by the StockCharts MarketCarpets screenshot below. It was pretty much red except for a few lonely green squares.
FIGURE 1. STOCK MARKET’S PERFORMANCE ON MONDAY, JULY 7. Besides a few lonely green squares, the screen lit up red. Image source: StockCharts.com. For educational purposes.
Why Pullbacks Can Be Your Friend
Stock market pullbacks aren’t all bad. They give investors and traders a chance to go bargain hunting. A handy tool is the Market Movers panel in your StockCharts Dashboard. Check the “S&P 500 % Down” category to spot the 10 stocks in the index that had the largest % loss for the trading day. Then view the charts and see if any deserve a place in your ChartLists.
Two names that caught my eye:
- Tesla, Inc. (TSLA)
- ON Semiconductor Corp. (ON)
FIGURE 2. MARKET MOVERS PANEL FROM MONDAY, JULY 7. From this list, two stocks worth considering as “buy the dip” opportunities are TSLA and ON. Image source: StockCharts.com. For educational purposes.
Tesla, Inc. (TSLA): Sitting on the Fence
While it’s clear that politics helped knock TSLA down, the chart tells a fuller story.
From the daily chart of TSLA below, it’s clear that the stock has seen some erratic movement recently.
FIGURE 3. DAILY CHART OF TSLA’S STOCK PRICE. TSLA’s stock price has danced above and below its 200-day simple moving average, and momentum is relatively weak. Chart source: StockCharts.com. For educational purposes.
Since April, TSLA’s stock price looked like it was recovering after it broke out above its 200-day simple moving average (SMA). However, in early June it dipped below it and then went above it, and is now back below it. The June 23 high was below the end of May high. The relative strength index (RSI) and percentage price oscillator (PPO) indicate weakening momentum. The big question is where is TSLA going to find support?
Watch three support levels on your chart. TSLA’s stock price has moved above the first support level. Look for momentum to pick up to confirm the upside move. If TSLA’s stock price doesn’t hold at this level and falls further towards the $270 or $220 levels, similar conditions would apply. However, a significant fall in price would weaken momentum significantly and would need stronger evidence to consider going long.
ON Semiconductor (ON): Stalling at Resistance
ON has lagged its chip-making peers. Over the past year, ON Semiconductor has underperformed the VanEck Semiconductor ETF (SMH). ON supplies chips to automakers and manufacturers, so its fortunes rise and fall with car demand.
The daily chart of ON below shows that since early April the stock price has recovered with a series of higher highs and higher lows. It is now facing resistance of its 200-day SMA, a resistance area that coincides with the February high and the early January gap down. Momentum looks like it’s rising as indicated by the slight rise in RSI and a potential bullish crossover in the PPO.
FIGURE 4. DAILY CHART OF ON SEMICONDUCTOR. Since early April, ON has printed higher highs and higher lows. The stock price is now hovering around its 200-day SMA, and momentum seems to be gaining a little strength. Chart source: StockCharts.com. For educational purposes.
I would look for ON to clear $58 on strong volume and improving momentum before opening a long position.
Closing Position
- Add price alerts in StockCharts at each support level (for TSLA) or resistance level (for ON).
- When an alert triggers, re-evaluate the chart to confirm if momentum is strong enough for a price reversal and upside follow-through.
A short-term investment could be a better choice for TSLA since its price performance is correlated to Elon Musk’s involvement with the company.
ON could be a steadier, longer-term investment if the stock price breaks above resistance.
No matter what, decide in advance where you’ll place your stops. Then stick to your plan because discipline always wins.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
President Joe Biden’s former chief of staff and a fixture of his re-election campaign, Ron Klain, privately announced during Biden’s disastrous debate performance: ‘We’re f—ed.’
‘2024: How Trump Retook the White House and the Democrats Lost America,’ a new book released Tuesday by journalists Josh Dawsey of The Wall Street Journal, Tyler Pager of The New York Times and Isaac Arnsdor of The Washington Post, is the latest analysis of how Biden lost the White House.
The authors described how, during the June 2024 debate, ‘Biden’s aides winced as the president started answering the first question about the economy and voters who felt they were worse off under his presidency.’
And backstage, as Biden stumbled over an answer that questionably ended with, ‘We finally beat Medicare,’ back in the holding room, Klain stood up and announced, ‘We’re f—ed,’ according to the authors.
Mike Donilon, Bruce Reed and Klain were among those leading Biden’s final prep ahead of the debate, according to the book.
Despite Klain expressing doubt internally, Klain continued to defend the president amid calls from donors and politicians for Biden to step down.
On June 30, 2024, Klain reshared an X post that urged Americans to ignore the ‘news reports’ with ‘anonymous sources about Dem donors calling for Biden to withdraw.’
‘We are the Democratic Party! These people don’t get to decide to oust a pro-labor pro-people President,’ Klain said on July 4, 2024, in response to The New York Times reporting about the Democrats’ pressure campaign against Biden.
According to the book, after the debate, Klain called Jeff Zients, his successor as Biden’s chief of staff, to say he was ‘disturbed that Biden was planning to spend the weekend at Camp David.’
‘We have an emergency,’ Klain told Zients, according to the book. ‘We have a crisis on Capitol Hill, and the crisis is going to accelerate.’
But Zients insisted Biden was going to Camp David to be with his family, instead of Klain’s plan to appease the progressive wing of the party with a bold second-term agenda.
‘I have no f—ing clue why he’s going to Camp David this weekend,’ Klain said, according to the authors. ‘He needs to be working the phones, day and night.’
Even before the debate, when concerns about the first octogenarian president’s ability to lead the country through a second term came to a boiling point, Klain had concerns, as portrayed in the book.
Klain had overseen debate prep for every Democratic presidential candidate since 2004, according to the authors. Between Biden’s cold, a shorter prep window than usual and staffers privately expressing concern, debate prep in Camp David did not quite go as planned, the authors claimed.
‘This is going to be really touch and go in Atlanta,’ Klain told Donilon and Reed ahead of the debate, according to the book.
Fox News Digital has written extensively dating back to the 2020 presidential campaign about Biden’s cognitive decline and his inner circle’s alleged role in covering it up.
When reached for comment, Klain told Fox News Digital, ‘I have nothing to add.’
Biden did not immediately respond to Fox News Digital’s request for comment.
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The Department of Homeland Security (DHS) and Transportation Security Administration (TSA) are expected to roll back the ‘shoes-off’ airport security protocol at a Tuesday press conference in Washington.
DHS sources confirmed a 5 p.m. ET announcement at Ronald Reagan Washington National Airport, following widespread reporting that TSA will allow more passengers going through security to remove their shoes.
White House press secretary Karoline Leavitt said ending the protocol is ‘big news from @DHSgov’ in a post to X.
The policy was first implemented in 2006 and was prompted by ‘shoe bomber’ Richard Reid, a British citizen with ties to al-Qaeda, who attempted to detonate explosives he had hidden in his shoes on an American Airlines flight from Paris to Miami in December 2001.
‘TSA and DHS are always exploring new and innovative ways to enhance the passenger experience and our strong security posture,’ a TSA spokesperson said in a statement. ‘Any potential updates to our security process will be issued through official channels.’
TSA PreCheck and partners CLEAR, IDEMIA and Telos have kept passengers from taking their shoes off in security for a number of years, but the latest change would impact everyone traveling through the main security line.
This change comes as the Trump administration’s TSA looks to alleviate some of the hassles of travel, and just last week began rolling out a new security lane exclusively for active-duty service members.
Preston Mizell is a writer with Fox News Digital covering breaking news. Story tips can be sent to Preston.Mizell@fox.com and on X @MizellPreston
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Former Vice President Kamala Harris offered a take so ‘weird’ and ‘not good’ in an interview with social media personality Kareem Rahma that they both agreed to nix airing the footage, according to Rahma.
Rahma, who hosts the popular series ‘Subway Takes,’ where he asks commuters and sometimes celebrities their opinions, previously told the New York Times that he conducted an interview with Harris during the summer of 2024, but that it was never released.
Rahma said in an interview clip with Forbes’ Steven Bertoni posted on social media Monday that Harris’ take was so ‘bad’ he felt fortunate it didn’t make the cut.
‘Her take was really confusing and weird – not good,’ Rahma told Bertoni. And we ‘mutually agreed to not publish it. And I got lucky, because I didn’t want to be blamed for her losing.’
‘Her take was that bad?’ Bertoni said.
‘It was really, really bad… it like, didn’t make any sense,’ Rahma said, revealing Harris’ take was ‘bacon as a spice.’
Neither Harris nor Rahma immediately responded to a request for comment from Fox News Digital.
Rahma, who is Muslim, told the New York Times in a story published in November 2024 that Harris’ team originally proposed she would share a ‘hot take’ against people removing their shoes on airplanes.
But Harris went on to declare that bacon was a spice – a food that Rahma and other Muslims do not consume for religious reasons. The Times reported that Rahma was ‘taken aback’ by Harris’ statement.
‘Think about it, it’s pure flavor,’ she said, per the unaired footage obtained by the Times.
The Times’ story said two senior campaign managers for Harris said the topic of bacon had been previously raised, while Rahma and his manager said that wasn’t the case. Harris’ campaign reportedly apologized for sharing her take on bacon and offered to re-film the episode, but Rahma declined, according to the Times.
Rahma told the Times that his reasoning for not airing the interview was because he didn’t want to upset the Muslim community, and that he was hoping to ask Harris questions about the Biden administration’s policy regarding the Israel–Hamas war.
‘It was so complicated because I’m Muslim and there’s something going on in the world that 100% of Muslims care about,’ Rahma told the Times. ‘And then they made it worse by talking about anchovies. Boring!’
Harris’ running mate, Minnesota Gov. Tim Walz, also appeared on Rahma’s series leading up to the 2024 election, where he discussed gutter maintenance. Walz’s interview was posted in August 2024.
Fox News’ Yael Halon contributed to this report.
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President Donald Trump disclosed he and former Chairman of the Joint Chiefs of Staff Gen. Mark Milley clashed over leaving equipment in Afghanistan as the U.S. withdrew troops in 2021.
Trump, who historically has pushed to recover billions of dollars’ worth of equipment U.S. troops left in Afghanistan, said Milley argued at the time it was cheaper to leave the equipment there.
‘That’s when I knew he was an idiot,’ Trump said during a Cabinet meeting Tuesday. ‘Didn’t take long to figure that one out. But they left all that equipment. But they left their dignity behind. It was the most embarrassing moment, in my opinion, in the history of our country. Not that we got out. We should have not been there, but that we got out the way we got out with great embarrassment and death.’
Milley, who is now retired, did not immediately respond to a request for comment from Fox News Digital.
The Taliban seized nearly all of the more than $7 billion worth of equipment U.S. troops left in Afghanistan during the withdrawal process, according to a 2022 Department of Defense report.
While U.S. troops removed or destroyed most of the major equipment, aircraft, ground vehicles and other weapons were left in Afghanistan. The condition of these items remains unknown, but the Pentagon said in the report the equipment likely would fail operationally without maintenance from U.S. contractors.
In 2021, President Joe Biden signed off on pulling U.S. troops from Afghanistan, following up on existing plans from the first Trump administration in 2020 with Taliban leaders to end the conflict.
However, Biden bore the brunt of criticism for the withdrawal after the Taliban rapidly took over Afghanistan again, and more than a dozen U.S. service members died supporting evacuation efforts.
Thirteen U.S. service members were killed during the withdrawal process due to a suicide bombing at Abbey Gate, outside the then-Hamid Karzai International Airport, as the Taliban gained control of Kabul.
Secretary of Defense Pete Hegseth announced in May that he had instructed the Pentagon to launch a comprehensive review of the U.S. withdrawal to provide a more comprehensive evaluation of the event and to hold those responsible accountable.
‘The Department of Defense has an obligation, both to the American people and to the warfighters who sacrificed their youth in Afghanistan, to get to the facts,’ Hegseth said in a memo in May. ‘This remains an important step toward regaining faith and trust with the American people and all those who wear the uniform and is prudent based on the number of casualties and equipment lost during the execution of this withdrawal operation.’
While Trump tapped Milley to serve as the chairman of the Joint Chiefs of Staff in 2019, the relationship between the two unraveled after Milley issued an apology for appearing beside Trump in uniform during a photo-op outside the White House during the 2020 protests following the death of George Floyd at the hands of a police officer.
Milley said in his apology that his appearance ‘created a perception of the military involved in domestic politics.’
‘As a commissioned uniformed officer, it was a mistake that I have learned from, and I sincerely hope we all can learn from it,’ Milley said in the apology.
Since then, Trump has issued various threats toward Milley, such as appearing to suggest Milley deserved to face execution for actions, including speaking to Chinese officials. Prior to departing office, Biden issued a preemptive pardon to Milley to safeguard the retired general from retributive actions by Trump.
Hegseth yanked Milley’s security clearance in January.
Milley told lawmakers on the House Foreign Affairs Committee in March 2024 that he and the commander of U.S. Central Command at the time of the withdrawal, Marine Gen. Kenneth F. McKenzie Jr., both advised Biden to keep some U.S. troops in Afghanistan after pulling most forces.
‘The outcome in Afghanistan was the result of many decisions from many years of war,’ Milley told lawmakers. ‘Like any complex phenomena, there was no single causal factor that determined the outcome.’
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The U.S. Department of Agriculture (USDA) unveiled its National Farm Security Action Plan on Tuesday morning.
The plan is specifically meant to address threats from foreign governments, like China, and how those threats impact American farmers. It presents legislative and executive reforms such as banning Chinese nationals from obtaining farmland in the U.S., as well as assessing who holds land near military bases.
‘The farm’s produce is not just a commodity, it is a way of life that underpins America itself. And that’s exactly why it is under threat from criminals, from political adversaries, and from hostile regimes that understand our way of life as a profound and existential threat to themselves,’ USDA Secretary Brooke Rollins said at a press event in Washington, D.C.
‘For them, agricultural lands and our farms, because they are a previous inheritance, are weapons to be turned against us,’ she continued. ‘We see it again and again, from Chinese communist acquisition of American farmland to criminal exploits of our system of agriculture, to the theft of operational information required to work the land and beyond. All of this takes what is profoundly good and turns it toward evil purposes.’
Rollins was joined by Defense Secretary Pete Hegseth, Attorney General Pam Bondi and Homeland Security Secretary Kristi Noem.
‘As someone who’s charged with leading the Defense Department, I want to know who owns the land around our bases and strategic bases and getting an understanding of why foreign entities, foreign companies, foreign individuals might be buying up land around those bases,’ Hegseth said.
Bondi directly referenced how agroterrorism is becoming a top concern for the administration. Two Chinese nationals were arrested in Michigan last month for allegedly smuggling what FBI Director Kash Patel described as a ‘known agroterrorism agent.’
‘A country who cannot feed itself, cannot take care of itself, and cannot provide for itself, is not secure, and we have to be able to feed ourselves to make sure that no other country ever controls us,’ Noem said.
Noem said that during her time as governor of South Dakota she signed a law that banned the governments of China, Iran, Cuba, North Korea, Venezuela and Russia and entities related to them from buying farmland in the state.
‘And I’ve watched for decades as evil foreign governments, including China, have come into this country, and they have stolen our intellectual property. They’ve manipulated their currency, they’ve treated us unfairly in trade deals. They’ve come in and purchased up our processing companies, stolen our genetics,’ she continued.
Numerous states have laws on the books restricting land purchases by those with ties to China and other foreign adversaries. In 2021, over 383,000 acres had ties to China, but the number has dipped in recent years, according to Agriculture Dive.
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