China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
U.S. copper prices surged to a record high on Tuesday after President Donald Trump announced a 50% tariff on imported copper, intensifying global trade tensions. Trump also warned of upcoming tariffs on semiconductors and pharmaceuticals. U.S. Comex copper futures spiked over 12%, highlighting the metal’s strategic importance in electric vehicles, military hardware, and infrastructure. Copper miner Freeport-McMoRan (NYSE:FCX) rose 2.5% in response.
In letters to 14 countries, including Japan and South Korea, Trump confirmed sweeping tariffs would take effect August 1. While he noted progress with the EU and China, he hinted that a new tariff letter to the EU was imminent. Stocks, which sold off on Monday, were relatively stable Tuesday, as investors awaited second-quarter earnings reports. Analysts from BofA and Goldman Sachs raised their S&P 500 year-end targets, citing solid corporate earnings.
The Dow Jones slipped 0.37% to 44,240.76, the S&P 500 dipped 0.07% to 6,225.52, and the Nasdaq inched up 0.03% to 20,418.46. The MSCI world index fell slightly, while Europe’s STOXX 600 gained 0.41%.
The Federal Reserve’s meeting minutes, due Wednesday, may offer insight on potential rate cuts. U.S. Treasury yields rose, with the 10-year yield climbing to 4.417%. However, demand was weak for a $58 billion three-year note auction. Additional bond sales are scheduled for later this week.
Currency markets saw the yen slide against the dollar and euro, while the Australian dollar gained after the RBA held interest rates steady. Oil prices edged up, with U.S. crude at $68.33 and Brent at $70.15. Spot gold fell 1.05% to $3,300.32 per ounce.
