An upbeat start to earnings season has also helped to quell tariff fears for now. Around 83% of the S&P 500 companies that have reported earnings have exceeded expectations, according to FactSet data. In particular, big banks such as JPMorgan Chase and Goldman Sachs, which serve as barometers for economic activity, had solid beats, boosting investor sentiment.
Next in the spotlight are Big Tech earnings, which will be released in the weeks right before Aug. 1. If better than expected, they might dispel geopolitical jitters — or cause investors to dismiss trade fears too readily. In these stormy times, every silver lining has a dark cloud.
What you need to know today
Aug. 1 is a ‘hard deadline’ for new tariffs. U.S. Commerce Secretary Howard Lutnick said Sunday that the tariffs will take effect next month, but left open the possibility of continuing trade negotiations after the date.
Trump wants a minimum tariff of 15%-20% on the EU. The Financial Times
Scott Bessent reportedly urged Trump not to fire Jerome Powell. However, the U.S. president denied a Wall Street Journal report that Bessent had warned him about the
U.S. stock futures are little changed Sunday stateside. On Friday, the S&P 500 and Nasdaq Composite closed around the flatline. The Dow Jones Industrial Average, however, lost 0.32%. The Stoxx Europe 600 was
[PRO] The Magnificent Seven are due to report earnings. Alphabet and Tesla will announce their second-quarter financial results Wednesday. If they top the results that investors are expecting,
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