Japan Trade Deal Shakes Things Up With 5 Stocks to Watch Now

Traders are digesting news of a new trade agreement between the U.S. and Japan that introduces reciprocal 15 percent tariffs on Japanese exports.

President Trump’s late-Tuesday announcement marked a surprise development during an already busy earnings week.

While futures ticked slightly higher on the headline, investors are still weighing the downstream impact on supply chains, pricing, and sector-specific winners and losers.

With the spotlight on Tesla and Alphabet ahead of earnings, attention is also shifting to under-the-radar names where fundamentals and near-term catalysts could generate outsized moves.

Today’s lineup includes two copper plays tied to global demand, a solar stock navigating tariff pressure, a beaten-down healthcare name seeking a floor, and a classic consumer staple still paying investors to wait.

Read more to find some sneaky value plays in this market.

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Centene Corp | CNC

Price: $29.44

Centene has been in freefall since withdrawing its 2025 guidance earlier this month.

The issue is that the company reported fewer and sicker members joining Affordable Care Act plans, while Medicaid enrollment is expected to decline after major policy changes.

Shares have lost more than half their value this year.

Despite the bad news, analysts now see significant valuation upside. The average updated price target is $51, implying 80 percent potential returns from here.

Investors will need to balance that with risk from Trump’s $1 trillion Medicaid cuts. Expect continued volatility, but the stock may be forming a floor ahead of its next update.

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Enphase Energy | ENPH

Price: $36.46

Enphase beat Q2 earnings and revenue estimates but issued cautious guidance for Q3, with gross margins projected to decline due to new solar tariffs and reduced tax incentives.

The company expects revenue to be between $330 million and $370 million, which is below Wall Street expectations.

Still, the Q2 beat highlights resilient demand in the face of macroeconomic headwinds.

Enphase remains one of the top solar inverter makers globally and is likely to benefit from long-term clean energy adoption.

The stock sold off post-earnings, but traders looking for oversold opportunities in renewables may take another look if broader sentiment stabilizes.

Freeport-McMoRan | FCX

Price: $44.84

Freeport reports earnings Wednesday morning, and the bar is high. Copper prices are up more than 30 percent year-to-date, and FCX is riding that wave.

The company boasts top-tier copper and gold assets, including the Grasberg mine in Indonesia, and remains a favorite among investors tracking the clean energy metals trade.

Earnings are expected to drop on July 24, and momentum traders will be watching guidance, margins, and production volumes.

With earnings momentum strong and sentiment in mining improving, a positive surprise could send shares toward new highs.

A miss could trigger profit-taking after a sharp recent rally.

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Hudbay Minerals | HBM

Price: $10.33

Hudbay has become a top pick among copper bulls, thanks to strong Q1 earnings, low costs, and bullish guidance.

Its Copper World project in Arizona, with 20 years of mine life and expected production growth of 50 percent by 2026, has attracted institutional investors.

Analyst upgrades have followed, with several firms boosting targets by 10 to 20 percent.

With Q2 earnings coming in August, the stock’s history of strong post-earnings performance suggests that HBM may offer a setup worth monitoring.

Copper exposure, operational discipline, and cash flow strength make it a contrarian winner in a tough sector.

General Mills | GIS

Price: $51.29

General Mills may appear to be a value trap, but its cash flow tells a different story.

The company is divesting underperforming brands, maintaining a nearly 5% dividend, and trading at a significant discount to its consumer staples peers.

But revenue growth remains sluggish, and EPS is expected to decline again this year.

For income-focused investors, GIS offers stable returns in a volatile market.

But it will need to prove that pet food and foodservice growth can offset volume losses and pricing headwinds in core grocery.

The next earnings call could be a turning point for sentiment.

The U.S.–Japan trade deal introduces new variables into an already volatile earnings season.

While the broader market is still finding its footing, stock-specific catalysts are emerging as key drivers.

Centene is navigating a storm in healthcare policy and guidance cuts, while Enphase is adjusting to policy shifts on solar tariffs.

On the other hand, Freeport and Hudbay are well-positioned to benefit from long-term global demand for copper, particularly as infrastructure and energy transition investments gain momentum.

General Mills continues to serve as a defensive dividend play, even as growth remains a question.

In this environment, flexibility is key. Global headlines and earnings surprises can cause stocks to move quickly.

Stay sharp, stay selective, and focus on what’s changing, not just what’s already run.