Good morning. Today is Wednesday, July 9th. I'm Rina Sherble, filling in for Julie Morgan.

Our top stories today, Trump's tariffs on semis and pharmaceuticals, copper retreats from record

high, and crude oil gains.

Stock index futures were slightly higher on Wednesday implying another day of small moves for

the market as investors continue to digest U.S. President Donald Trump's latest actions on tariffs.

Benchmark S&P 500 futures were up 0.3% a few hours ahead of the opening bell. NASDAQ 100 futures were also up 0.3% as were Dow futures.

In the fixed income market, U.S. Treasury yields were little changed in early trade. The 10-year yield

was at 4.41 percent, while the shorter end, more rate-sensitive to U.S. Treasury yields were little changed in early trade. The 10-year yield was at 4.41 percent,

while the shorter end, more rate-sensitive two-year yield was at 3.91 percent. President Donald

Trump on Tuesday reiterated his plans to impose tariffs on pharmaceutical goods, threatening

to charge as much as 200 percent as levies on a product category that

has largely been immune from his trade war due to the public health impact. Trump said that

pharma tariffs will not take effect immediately. Potentially referring to drug makers, he said,

we're going to give people about a year, a year and a half to come in, and after that,

they're going to be tariffed. He added, if they have to bring the pharmaceuticals into the country,

the drugs, and other things into the country, they're going to be like 200%. Amid Trump's repeated

tariff threats against pharma imports, major pharma companies such as Merck, J&J, Eli Lilly, and Novartis

have already announced plans to expand their U.S. manufacturing footprint.

Gold prices traded just under 0.4% lower to $3,000, $288 an ounce, hovering near one week low and pressured by rising

treasury yields and a stronger U.S. dollar. Silver prices dropped 0.44% to around 3660 per ounce

on Wednesday, marking their third consecutive decline. Investors will closely watch

FOMC minutes that will hint at the Federal Reserve's policy outlook. A stronger than

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