Canada unveiled retaliatory tariffs on U.S. goods, effective Sept. 8, ranging from 15% to 50% on $20 billion of imports, including steel, aluminum, motorcycles, and appliances. Oil prices fell as traders welcomed a focus on economic measures over military action against Iran, with Brent crude down 3.9% to $88.58. The 10-year Treasury yield dropped 0.065 percentage point to 4.638%.

Stocks rose, with the S&P 500 up 0.3% and Nasdaq gaining 0.6%. Dick's Sporting Goods plummeted 31% after cutting its outlook due to weak sneaker sales, dragging down Nike, lululemon, Under Armour, and Target. Space X's record-breaking IPO tested financial metrics, while Anthropic's potential could exceed $30 trillion, topping Space X's $28.5 trillion estimate.