U.S. stocks opened mixed on Tuesday as investors digested renewed tariff threats from President Donald Trump, fresh pressure on Tesla’s leadership, and a profit warning from tech giant Samsung. At 9:30 a.m. ET, the Dow Jones Industrial Average was down 46.68 points, or 0.11%, to 44,359.70, while the Nasdaq Composite rose 53.71 points, or 0.26%, to 20,466.20. The S&P 500 inched up 2.32 points, or 0.04%, to 6,232.30.

Commodities provided little relief. Crude oil futures for August delivery dipped $0.08, or 0.12%, to $67.85 a barrel on the NY Mercantile Exchange as of 9:03 a.m. EDT. Gold slipped $6.80, or 0.20%, to $3,336.00 per ounce on the COMEX, under pressure from a firming dollar and profit-taking in early trading.

Investor sentiment remained cautious after President Trump issued letters to 14 nations on Monday, threatening tariffs as high as 40% if trade agreements are not reached by August 1. The threats rattled markets, particularly in Asia, though a belief in what traders call the “TACO trade” (“Trump Always Chickens Out” or “Trump Always Comes Around”) helped limit deeper losses.

Adding to the volatility, Trump took to Truth Social to lash out at Elon Musk, Monday, accusing the Tesla CEO of going “completely off the rails” and criticizing his reported intention to form a new political party. “He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States... The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION CHAOS,” Trump posted. He also noted that the newly passed legislation under his administration eliminates the EV mandate, a move he said Musk had previously supported.

The political fallout was underscored by a sharply worded note from Wedbush analyst Daniel Ives, who called on Tesla’s board to “set the ground rules for Musk going forward around his political ambitions and actions.” The report emphasized that “Tesla needs Musk as CEO for another five years at least given how important of a role Musk will play in the autonomous and robotics future of Tesla”. Ives reaffirmed his “Outperform” rating and $500 price target for Tesla, citing a $1 trillion opportunity in autonomy and AI, but warned that Musk’s political distractions could “make Musk a foe of Trump and the Republican party,” potentially jeopardizing regulatory developments.

Meanwhile, overseas, Samsung Electronics rattled tech markets with a surprise earnings warning. The South Korean tech giant said second-quarter operating profit would fall 56% year-over-year to 4.6 trillion won (~$3.4 billion), blaming U.S. export restrictions on AI chips and delayed sales to key customer Nvidia. According to CLSA’s Sanjeev Rana, this could mark a bottom for Samsung’s chip business, though the guidance has “cast a shadow over its efforts to reignite growth”.

Looking ahead, investors will be watching for early earnings reports as well as any updates on trade negotiations before Trump’s August 1 deadline. The resilience in tech and retail buying interest is being tested by growing geopolitical and policy risks, with volatility likely to increase as summer progresses.