💡WEEKLY MARKET REPORT
• Tuesday: NFIB Small Business Index, Consumer Credit; $AMZN Prime Day
🚨 Wednesday: Fed FOMC Minutes; Trump Tariff Deadline
• Thursday: Jobless Claims; 3 Fed Speakers; $DAL $CAG $LEVI Earnings
• Friday: Federal Budget Balance
-Stocks firmed as initial jitters over the Trump administration’s latest tariff announcements gave way to optimism that there’s ample room for further negotiations.
- S&P 500 futures edged higher 0.1% after moving off a record high in the previous session. European stocks were little changed while a gauge for Asian equities gained.
- Tuesday’s market steadiness reflects traders’ belief in a familiar pattern of Trump escalating his trade war only to later de-escalate, betting that any eventual tariffs will be set at a level the global economy can absorb.
- So far, the US economy has held up under the threat of a spiraling global trade war. Hiring is healthy, while the S&P 500 hit a record high last week.
- After a selloff in April following U.S. President Donald Trump's "Liberation Day" tariff announcements, stocks have rebounded as hopes for trade deals and potential Federal Reserve rate cuts eased investor uncertainty.