Friday

• U.S. producer prices jumped 0.9% in July, tempering expectations for aggressive Federal Reserve rate cuts in September, though markets still price in a 90% chance of a 25-basis point reduction.
• Chinese markets advanced despite concerning economic indicators, with new data showing weakening retail sales and industrial output. Oil prices declined ahead of the Trump-Putin summit in Alaska, which could impact global energy markets.

Thursday

• U.S. inflation held at 2.7% year-on-year in July, with Treasury Secretary Bessent advocating for a 50-basis point Fed rate cut. The S&P 500 and Nasdaq reached new record highs on rate cut expectations.
• US stock futures stayed near unchanged levels on Thursday as investors awaited fresh inflation data, following Tuesday’s softer-than-expected numbers that fueled rate-cut hopes and lifted markets.
• Dow Jones Industrial Average and S&P 500 futures were little changed, while Nasdaq 100 futures also held flat.
• The Japanese yen hit three-week highs following Bessent’s comments on the Bank of Japan’s inflation stance. UK GDP grew 0.3% in Q2, while Eurozone growth slowed to 0.1%.
• Bullish (BLSH) rose 12% yesterday before the bell, reaching $78, doubling its IPO price of $37 and valuing the company at over $10 billion.

Wednesday

• US inflation data came in at 2.7%, below the expected 2.8%, driving the S&P 500 and Nasdaq to record highs with the S&P closing at 6,445.76. Japan’s Nikkei 225 broke through 43,000 points to reach consecutive record highs.
• Treasury Secretary Scott Bessent indicated the possibility of a 50 basis point Fed rate cut in September, with markets now pricing in a 98% probability of easing. The dollar weakened as rate cut expectations increased.

Tuesday

• July’s CPI, due Tuesday at 8:30 a.m. ET, is expected to show a faster annual price rise than June, as investors watch for tariff impacts on costs.
• Bloomberg data points to a 2.8% year-over-year increase in July, up from 2.7% in June. Monthly prices are forecast to rise 0.2%, slowing from June’s 0.3% gain, aided by lower gasoline costs and softer food inflation.
• China reportedly told domestic firms to avoid Nvidia’s H20 processors, particularly in government work, after Nvidia and AMD agreed to give the US 15% of certain China chip sales revenue.
• Circle shares rose over 6% premarket after the stablecoin issuer’s first post-IPO quarter beat expectations.

Monday

• The FTSE 100 rose while European markets showed mixed performance at the end of a hectic week dominated by central bank decisions, corporate earnings, and speculation over a possible pause in the Russia-Ukraine conflict, as Donald Trump prepares for a meeting with Vladimir Putin.
• Global markets reacted to U.S. trade policy shifts. Trump’s nomination of Stephen Miran for the Fed board vacancy lifted U.S. futures.
• Gold prices reached new highs following announcements of U.S. duties on gold bar imports. The dollar weakened as markets anticipate Federal Reserve rate cuts beginning September.