Stocks Close Mixed as Tariff Worries Return, But Tom Essaye Says Markets Aren’t Buying It Yet
Sevens Report sees complacency risk as indexes sit near all-time highs
S&P 500: Exploring best- and worst-case scenarios for H2 2025
U.S. stocks ended mixed on Wednesday as investors weighed the latest tariff uncertainty, but according to Tom Essaye of Sevens Report Research, the market’s muted reaction may be telling.
“If people believed it, we’d be down several percentage points… The fact that we’re not means nobody believes it.”
— Tom Essaye, Sevens Report
Essaye noted that sentiment, once extremely bearish in the spring, has since shifted—creating a more fragile market environment as stocks hover near all-time highs.
“The market has become vulnerable to negative surprises.”
That vulnerability could amplify any future macro shocks—especially if investor complacency builds while real risks remain unresolved.
Also, click here to view the full Xinhua article, published on July 8th, 2025. However, to see the Sevens Report’s full comments on the current market environment sign up here.
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