Risk appetite took a breather Tuesday, with major U.S. stock indices retreating modestly from record highs as investors braced for a pivotal stretch of earnings and macro events.
U.S. Commerce Secretary Howard Lutnick said Trump is likely to announce a new policy targeting drug manufacturing within the next two weeks, and pharmaceuticals not made in the U.S. could face ‘massive’ tariffs.
The U.S. is evaluating India’s readiness to make structural policy changes, as opening its protected domestic market would mark a major departure from New Delhi’s longstanding trade stance.
The canceled visit comes as the U.S. and China work to extend a tariff truce, with President Trump preparing for a possible summit with Chinese President Xi Jinping.
In the upcoming session, the spotlight is likely to be on the Federal Open Market Committee meeting that gets underway, the results of the Job Openings And Labor Turnover Survey, and the Conference Board’s July consumer confidence data.
Wall Street opened the week slightly higher, led by gains in energy stocks, while the U.S. dollar posted its strongest performance in over two months, as markets reacted to the U.S.-EU trade deal struck over the weekend.
Tesla’s shares continued to rise on Monday, extending the surge from Friday after the company announced a $16.5 billion partnership with Samsung Electronics for semiconductor chips.
According to a Bloomberg report citing defense analysts and open-source data, the U.S. is likely to have flown the new B61-12 thermonuclear bombs to the U.K. in a C-17 military aircraft earlier this month.
The economist stated that China striking a deal with the U.S. is not only essential for its relationship with the United States, but also for its other trade partners.
