5 things to know before the stock market opens Tuesday, July 8

Here are five key things investors need to know to start the trading day:

In a series of letters posted to Truth Social on Monday, Trump announced new tariff rates for 14 U.S. trading partners that will take effect Aug. 1. According to the letters, the U.S. will impose a blanket tariff of 40% on imports from Laos and Myanmar, 36% on Cambodia and Thailand, 35% on Bangladesh and Serbia, 32% on Indonesia, 30% on Bosnia and Herzegovina and South Africa, and 25% on Japan, Kazakhstan, Malaysia, South Korea and Tunisia. The rates are relatively similar to the ones announced for each country in April, when Trump first unveiled his so-called reciprocal tariffs. Those steep tariffs have been on pause since April 9 and were set to kick in this week, but Trump on Monday signed an executive order extending the pause to Aug. 1. White House press secretary Karoline Leavitt indicated on Monday that more tariff rate letters will be released in the coming days.

The U.S. dollar just had its worst first half since 1973. Through June, the U.S. currency fell 10.7% against its global peers, and the road ahead doesn’t look any smoother. “You’re running massive deficits, and nobody wants to stop that on either side of the aisle. You’re alienating friends both militarily and trade-wise. You’ve got enough potential negative catalysts. And then once momentum starts, it’s hard to kind of stop it,” said Art Hogan, chief market strategist at B. Riley Wealth Management. Indeed, policy volatility, growing debt and deficits, and possible interest rate cuts will likely remain considerations for investors in the second half. Still, some on Wall Street believe the downward trend could reverse. Treasury Secretary Scott Bessent told CNBC on Monday that currency fluctuations are “not out of the ordinary.”

Apple’s “F1: The Movie” raked in more than $293 million at the global box office over the weekend, making it the tech company’s highest-grossing film release ever. “It’s a perfect test case for how a streaming service can develop a film that’s tailormade for the big screen while simultaneously promoting the film across the millions of small screens that their technological footprint puts directly in front of their subscribers,” said Paul Dergarabedian, senior media analyst at Comscore. The film has also benefitted from its partnership with IMAX, bringing in $60 million — more than 20% of its total gross so far — from IMAX screenings. But the movie is still not quite profitable: “F1” cost between $200 million and $300 million to make, plus an estimated $100 million to market, according to reports.

The world’s 20 most valuable sports ownership groups are together worth $225 billion, according to CNBC’s official sports empire valuations, which ranks Kroenke Sports & Entertainment at the top of the list. The portfolio owned by Stanley Kroenke — which includes the NFL’s Los Angeles Rams, the NHL’s Colorado Avalanche, the NBA’s Denver Nuggets and the Premier League’s Arsenal — is valued at $21.2 billion. Coming in second at a $15.53 billion valuation is the Jones family, which owns the NFL’s Dallas Cowboys. Harris Blitzer Sports & Entertainment is third, with its portfolio of the NFL’s Washington Commanders, NBA’s Philadelphia 76ers and NHL’s New Jersey Devils valued at $14.58 billion.

— CNBC’s Lisa Kailai Han, Sarah Min, Kevin Breuninger, Jeff Cox, Sarah Whitten and Michael Ozanian contributed to this report.