Stocks moved lower in early trading Friday as investors digested the latest threats from President Donald Trump to impose hefty tariffs on U.S. trading partners.

Wall Street is watching for progress on trade talks and on President Trump's massive budget bill in the Senate.

The S&P 500 and Nasdaq Composite pulled back from record levels as investors await President Trump’s new trade deals and tariff updates. Tesla shares sank after CEO Elon Musk jumps back into politics.

Wall Street is coming off a holiday-shortened week during which the S&P 500 and Nasdaq Composite posted fresh all-time highs.

US stocks dip as tariff deadline shifts to Aug 1. Traders eye S&P500 forecast, trade news, and earnings season to assess US indices momentum.

Shares of Microchip Technology Incorporated MCHP rose sharply during Tuesday's session. Mizuho analyst Vijay Rakesh maintained Microchip Technology with an Outperform rating and raised the price target from $78 to $85. Microchip Technology shares jumped 4.1% to $74.36 on Tuesday.

Wall Street's main indexes opened lower due to tariff tensions and Tesla shares fell as CEO Elon Musk unveiled plans for a political party. The Dow Jones fell by 25.2 points, the S&P 500 dropped 20.3 points,

US stock market today saw mixed moves as the S&P 500 and Nasdaq pulled back from recent highs while the Dow Jones climbed. The drop came as Tesla stock fell sharply, driven by rising tension between Elon Musk and President Trump over trade policy.

Shares of technology companies fell as Elon Musk's latest feud with President Donald Trump weighed on Tesla shares. Shares of the electric car maker slid by almost 7% after Musk vowed to field candidates for a new party in the upcoming mid-term elections, stoking fears of reprisal and distraction.

The SPDR S&P 500 ETFSPY was down 0.1% after the market open. Nvidia, Tesla Climb; Kellogg Soars On Buyout Deal.