Friday

• Global markets declined sharply after US President Trump announced extensive new tariffs on trading partners, with rates ranging from 10% to 41%.
• The US dollar index reached a two-month high near 100 following the Federal Reserve’s decision to maintain current rates. European inflation stayed at the ECB’s 2% target in July, with core inflation steady at 2.3%.
• Oil prices fell with Brent crude dropping to $71.48 per barrel amid concerns over reduced fuel demand.

Thursday

• The U.S. central bank kept interest rates unchanged on Wednesday, and remarks from Federal Reserve Chair Jerome Powell following the announcement weakened expectations that borrowing costs would start to decline in September. This may have frustrated President Donald Trump, who has called for quick and significant rate cuts.
• The most recent data from the Federal Reserve’s favored inflation measure revealed that price growth sped up in June, with inflation staying above the Fed’s 2% goal. The core PCE index, which excludes food and energy prices and is closely monitored by the central bank, increased by 2.8% year-over-year. This was higher than both the 2.7% predicted by economists and the 2.7% recorded in May.
• Microsoft and Meta reported strong earnings, driving U.S. stock futures higher amid ongoing trade tension concerns ahead of Trump’s August 1 tariff deadline.

Wednesday

• The Federal Reserve is expected to keep interest rates unchanged on Wednesday, despite internal disagreements over the direction of monetary policy and increasing pressure from President Trump and other White House officials. Markets will be closely watching to see if two Fed governors break ranks, which would be the first instance of such dissent in over 30 years.
• US-China trade negotiations are underway with both parties working to extend their tariff agreement beyond August 12. European economic data revealed contrasting performances, with France posting 0.3% growth while Germany experienced economic contraction.
• The International Monetary Fund has revised its global growth projection upward to 3% for 2025. Oil prices remain stable at approximately $71 per barrel amid ongoing geopolitical concerns.

Tuesday

• President Trump signaled potential global tariffs of 15-20% for nations without trade deals, while the US-EU agreement established a 15% baseline. The US-India trade negotiations face uncertainty as the August 1 deadline approaches.
• The realty sector demonstrated strength after five consecutive declining sessions. Market participants are now awaiting the upcoming US Federal Reserve’s policy decision and economic data releases.

Monday

• US and EU reached a landmark trade agreement establishing a 15% baseline tariff on EU goods, coupled with EU pledges for $750 billion in US energy purchases and $600 billion in American economic investments.
• U.S. stock futures edged higher on Monday following a new trade agreement between the U.S. and the European Union, kicking off a busy week filled with Big Tech earnings, a Federal Reserve meeting, inflation data, the July jobs report, and President Trump’s August 1 deadline to finalize major trade deals.
• Hedge funds are executing their most rapid exit from technology stocks in a year, redirecting investments toward consumer staples, while the dollar gained strength following the trade deal announcement.