Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
South Korea GDP Surges on Chip and AI Boom 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China to Inject $45 Billion Into State Financial Institutions 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Gold Prices Rise as Yen Rally Weakens Dollar 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Asian Stocks Mixed as Korean Chipmakers Rally 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
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U.S. stock index futures rose Tuesday evening after Commerce Secretary Howard Lutnick suggested that President Donald Trump might negotiate with Mexico and Canada following the imposition of steep tariffs. This comes after two days of sharp declines in major indices due to trade tensions.
S&P 500 Futures climbed 0.7% to 5,832.25 points, Nasdaq 100 Futures increased 0.9% to 20,572.25, and Dow Jones Futures gained 0.6% to 42,834.0 by 18:58 ET (23:58 GMT).
On March 4, 2025, Trump enforced a 25% tariff on imports from Canada and Mexico, alongside a 20% duty on Chinese goods, sparking immediate retaliatory actions. Canada condemned the tariffs, while China’s finance ministry announced new levies of 15% on agricultural imports and 10% on dairy products.
In an interview with Fox Business, Lutnick stated Trump is willing to "meet in the middle" with Canada and Mexico, hinting at possible negotiations to ease trade tensions. The tariffs have raised concerns over economic growth and inflation, already a pressing issue for U.S. consumers.
Stocks took a hit during regular trading, with the S&P 500 dropping 1.2% to 5,778.18, the Dow Jones falling 1.6% to 42,521.66, and the NASDAQ Composite slipping 0.4% to 18,285.65.
Financial stocks suffered, with Morgan Stanley (NYSE:MS) plunging 5.7%, while JPMorgan Chase (NYSE:JPM) and Goldman Sachs (NYSE:GS) each declined nearly 4%. Automakers also struggled as Ford (NYSE:F) fell 2.9%, Stellantis (BIT:STLAM) lost 4.4%, and General Motors (NYSE:GM) dropped 4.6%.
However, the tech sector saw some recovery, with NVIDIA (NASDAQ:NVDA) rebounding 1.6% after its recent downturn. Broadcom Inc. (NASDAQ:AVGO) and Super Micro Computer Inc. (NASDAQ:SMCI) also posted gains.
