India to Continue U.S. Trade Talks After Trump Imposes 10% Import Tariff 
Brent Oil Holds Above $100 as Red Sea Attacks, Iran Conflict Threaten Global Supply 
Canada Vows Trade Fight as Trump Imposes 50% Tariffs 
Gold Price Holds Above $4,130 as Fed Rate Outlook and Middle East Tensions Support Safe-Haven Demand 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
Global Leaders Push Back as Trump Imposes New Forced Labor Tariffs 
Japan Manufacturing Growth Holds Strong in July Despite Middle East Uncertainty 
US Stock Futures Rally as Oil Prices Drop Ahead of Fed Meeting and Big Tech Earnings 
Oil Prices Head for Weekly Surge as Red Sea Attacks and Kazakhstan Supply Cuts Raise Disruption Fears 
Oil Prices Pull Back After Two-Week Rally as Middle East Supply Risks Persist 
US Dollar Posts Best Weekly Gain in Over a Month as Middle East Tensions Boost Safe-Haven Demand 
Trump Administration Imposes New Forced Labor Tariffs on 60 Trading Partners 
Canada Opens Gordie Howe Bridge Without U.S. Officials as Trump Tariff Tensions Persist 
Trump Says No Decision on Major Iran Strikes as U.S.-Tehran Talks Intensify 
Japan CPI Rises in June, but Core Inflation Stays Below BOJ’s 2% Target 
US-Mexico USMCA Talks Advance as Auto Rules Remain Major Sticking Point 
Gold Price Holds Weekly Gain as Middle East Tensions and Fed Rate Outlook Drive Market 
Asian stock markets advanced on Monday after easing tensions in the Middle East pushed oil prices sharply lower, reducing inflation concerns and boosting investor confidence ahead of a busy week of central bank decisions, major corporate earnings, and key economic data releases.
Market sentiment improved after Iran signaled it would suspend attacks as long as the United States also refrained from military action. Reports suggested the U.S. military was concerned about declining ammunition supplies. However, risks remain after Yemen’s Iran-backed Houthi rebels targeted Saudi oil facilities along the Red Sea, keeping investors alert to potential disruptions in global energy supplies.
The de-escalation around the Strait of Hormuz sent Brent crude down 5.2% to $91.73 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 5.4% to $84.45. Lower oil prices eased inflation expectations and reduced market bets that the Federal Reserve would raise interest rates at its policy meeting on Wednesday.
Markets currently assign roughly a one-in-three chance of a Fed rate hike, although many analysts expect policymakers to leave rates unchanged following softer U.S. inflation data. Investors will also closely monitor this week's Bank of England and Bank of Japan meetings, where both central banks are widely expected to maintain current policy while remaining cautious about inflation.
The decline in oil prices lifted global equity futures. S&P 500 futures gained 0.8%, while Nasdaq futures climbed 1.3%. European futures also moved higher, with EURO STOXX 50 and DAX futures rising 0.6%. In Asia, Japan’s Nikkei advanced 0.4%, South Korea’s benchmark index gained 0.6%, and MSCI’s Asia-Pacific index outside Japan added 0.3%.
Attention is also turning to earnings season, with about one-third of S&P 500 companies set to report results this week. Technology giants Microsoft, Apple, Amazon, Meta Platforms, Nvidia-related suppliers, and Qualcomm will headline reports as investors assess whether strong profits can justify continued heavy artificial intelligence spending.
Upcoming economic releases include U.S. second-quarter GDP, the Fed’s preferred PCE inflation gauge, personal income and spending data, weekly jobless claims, and consumer sentiment. Lower Treasury yields also supported gold, which climbed 1.4% to $4,110 per ounce, while the U.S. dollar weakened modestly against major currencies.
