Investors are brushing off global trade tensions this afternoon, after President Trump imposed a 50% tariff on copper and Brazilian imports, effective Aug. 1. Trump also sent letters outlining new levies to another seven countries, including Algeria, Iraq, Libya, and the Philippines.

Nevertheless, the Dow Jones Industrial Average (DJI) was last seen up 250 points, while the S&P 500 Index (SPX) is solidly higher, and the Nasdaq Composite (IXIC) is flat. Wall Street is unpacking an unexpected decline in weekly jobless claims as well, which came in at 227,000 -- below estimates of 235,000.

|Mobileye Global Inc(Nasdaq: MBLY) stock is getting blasted in the options pits, with 32,000 calls and 13,000 puts traded so far today, which is 6 times the volume typically seen at this point. The most popular contract is the August 18 call. The equity was last seen down 2.6% to trade at $16.87, after the autonomous driving company announced Intel (INTC) sold 50 million Mobileye shares at $16.50, or a 4.7% discount to their most recent sale. The security now carries a 16.5% year-to-date deficit as it pulls back from last session's rally to its highest level since early January. 

United Airlines Holdings Inc (Nasdaq: UAL) is toward the top of the SPX today, last seen up 12.9% to trade $90.54. The stock has enjoyed tailwinds from sector peer Delta Air Line's (DAL) upbeat earnings results, with its own report slated for release after the close on Wednesday, July 16. The security sports a 91.1% year-over-year lead and earlier bounced off $80 to hit its highest level since March.

Axon Enterprise Inc (Nasdaq: AXON) is among the worst stocks on the SPX today, down 4.3% to trade at $771.28 at last check. There's no clear catalyst for this negative price action, with the shares sporting a 29.7% gain for 2025, as well as a 162.9% year-over-year lead. The stock is pulling back from a June 30, all-time high of $830.21, but familiar support from the $750 region looks poised to contain any additional losses.

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