FactSet U.S. Daily Market Preview

US equity futures are little changed. European markets are firmer, while most Asian markets gained. US-China trade tensions remain in focus, with Trump-Xi call reportedly expected Friday, though no confirmation yet. China's restrictions on rare earths getting more attention with press highlighting growing concern among car makers that shortage of magnets could grind auto production to halt within weeks. Moreover, US Steel tariffs come into effect today, but a temporary 25% tariff remains for the UK until its trade deal comes into force. Korea's Lee Jae-myung won the presidential election, pledging economic stimulus and renewed trade talks. Markets also eye ECB's Thursday meeting following soft Eurozone inflation and await US jobs data to gauge Fed's rate path.Companies Mentioned: BioNTech

S&P futures are pointing lower today, down (0.47%). European equity markets are firmer, following slightly weaker levels on Monday. Asian equity markets went mostly higher, with Hang Seng a notable outperformer. Overnight, US 2-year yield down 1 bps to 3.9% and 10-year down 3 bps to 4.4%. Dollar firmer, oil up, gold down, industrial metals lower. Renewed US-China trade tensions has spilled into public view with both sides accusing each other of reneging on Geneva deal. White House talking up prospects of a Trump-Xi call this week but no confirmation yet from China. Critical minerals remain source of tensions with China reportedly slow walking offer to relax rare earths curbs, a response to latest US tech curbs and revocation of Chinese student visas. Companies Mentioned: Snowflake, Merck, Crunchy Data, MoonLake Immunotherapeutics

S&P futures are pointing lower today, down (0.5%). European equity markets are weaker. Asian markets are lower, with Nikkei, Hang Seng and Taiwan underperforming, mainland China closed for public holiday. Overnight, treasury yields went up, with the two year up 2bps and the ten year up 5bps. The U.S. dollar weaker, oil up, gold gains, industrial metals higher. Trade tensions weighing on risk appetite. US-China relations fraying a month with two sides accusing the other of violating Geneva agreement. Main disagreements revolve around US frustration at China slow walking offer of relaxing rare earths curbs and China taking issue with US at new export restrictions. On geopolitical front, China rebuked US after Defense Secretary Hegseth warned of potentially imminent Taiwan invasion. Renewed tensions come as press sources noted efforts underway to set up a Trump-Xi call in bid to move forward talks.Companies Mentioned: Qualcomm, Alphawave IP Group, Sanofi, Blueprint Medicines, BASF

US equity futures are slightly lower after Thursday's positive session. European markets are mostly higher, while Asian equities ended broadly weaker, with Hong Kong and Japan leading declines. US trade policy outlook clouded after Appeals Court stayed ruling that had blocked tariffs under IEEPA, leaving restrictions in place while further legal review proceeds. White House stressed alternative statutes could be used if needed, adding uncertainty to timing and process of trade decisions. US-Asia trade negotiations remain uneven: Bessent said China talks stalled and may require Xi-Trump call, while India highlighted progress and Japan prepares for next round. Tokyo inflation beat expectations, adding to market focus on BOJ tightening after Ueda reaffirmed data-driven approach this week.Companies Mentioned: Synopsys, Seacoast Banking, Archer-Daniels-Midland

US equity futures are sharply higher after Wednesday's losses, with the S&P 500 up around 1.7%. European equity markets are firmer and Asian markets posted solid gains, particularly in Japan and South Korea. The US Court of International Trade blocked President Trump's reciprocal tariffs, adding uncertainty to ongoing trade negotiations ahead of the 9-Jul tariff deadline. Nvidia posted a $4.5B write-down tied to US export curbs and forecast another $8B impact this quarter, but left revenue guidance only slightly below consensus. The Trump administration is weighing further export restrictions targeting jet engines and semiconductor software. Secretary of State Rubio also flagged aggressive revocation of Chinese student visas. The May FOMC minutes showed officials continue to favor a cautious approach, citing uncertainty and the risk of persistent inflation amid labor market weakness.Companies Mentioned: Tesla, GE Aerospace, Paramount Global

S&P futures are pointing to a slightly softer open today, down (0.2%). European equity markets are edging higher in early trades. Asia finished a mixed session with Japan and Korea flat or slightly higher, while Hong Kong and Australia traded lower. Bond markets remain in focus as yields initially rose on reports that Japan's finance ministry might reduce super-long bond issuance after last week's market turmoil. However, the latest JGB 40-year auction was softer than expected with a higher-than-expected accepted yield of 3.135%, the highest since 2007. Companies Mentioned: Motorola, Travelers Cos., Chevron, Shein

S&P futures are pointing to a strong open today, up +1.5%. European equity markets are mostly higher in early trades with the FTSE 100 outperforming. Asian markets closed mostly lower, though Japan and Hong Kong saw modest gains. EU-US trade talks have intensified after President Trump delayed imposing 50% tariffs on EU imports, providing a 30-day window for negotiations. EU Trade Commissioner Maroš Šefčovič engaged with U.S. Commerce Secretary Lutnick and Trade Representative Greer, signaling a shift toward a cooperative tone. The EU may consider concessions, such as increased purchases of U.S. LNG and agricultural products. Companies Mentioned: Chevron, Trump Media, MAC Copper

S&P futures are pointing up near 1.3%. European equity markets opened with strong gains after Trump extended EU tariff deadline. Asian equities posted a mixed response to the weekend developments. Overnight, treasury yields were flat, with the two year staying at around 4% and 10-year to 4.5%. US dollar weaker, Asia currencies stronger, Crude blends slightly higher, gold lower, base metals mixed. Cryptocurrencies higher with bitcoin back near its peak. Focus in Europe on Trump's tariff delay following von der Leyen call, which largely confirms Trump's tariff plans can be regarded as a negotiation tool. However, White House reportedly rejected EU proposal to completely remove tariffs on industrial goods and increasing opportunities for American agricultural products to reach EU. Potential meeting between Šefcovic and Greer may also be set for early June in ParisCompanies Mentioned: WiseTech Global, E2open, United States Steel, Nippon Steel, Nvidia

S&P futures are pointing to a slightly higher open today, up +0.2%. European equity markets are also broadly firmer in early trades, followed a mixed Asian session with Japan and Hong Kong outperforming. Risk sentiment improved following House's narrow approval of Trump's tax bill, though it now faces weeks of Senate debate. Concerns persist over the bill's impact on the U.S. budget deficit and weak demand for long-term bonds in Japan and the U.S. Investors are also awaiting progress on trade negotiations, with only 45 days left in Trump's tariff pause. Companies Mentioned: Apple, Weyerhaeuser, Goodyear Tire & Rubber

S&P futures are pointing to a slightly higher open today, up +0.2%. European equity markets are under pressure in early trades, with the STOXX 600 down (0.7%). Asian equities closed lower across the board, with South Korea leading the losses, while Taiwan, Japan, and Hong Kong also slipped. Market attention is centered on the U.S., particularly the potential passage of Trump's tax bill before the Memorial Day break. Key concerns include whether the bill will increase the budget deficit beyond levels that could pressure long-dated Treasury yields.Companies Mentioned: Honeywell, Nike, Freddie Mac, Fannie Mae

S&P futures are pointing to a lower open today, down (0.5%). European equity markets opened weaker with major indices all edging lower, while Asian markets finished Wednesday trading mostly stronger. The recent U.S.-China trade truce has led to a surge in trade activity, with China-to-U.S. freighter bookings doubling in mid-May and Shanghai-LA shipping rates rising 16%, the largest increase in 2025.Companies Mentioned: Ford Motor, Wolfspeed, RBC Bearings

S&P futures are pointing to a slightly lower open, down (0.3%). European equity markets are broadly firmer in early trades, following a strong Asian session. Chinese battery maker CATL surged nearly +17% on its Hong Kong trading debut after raising $4.6B in the largest global listing of 2025. The offering saw strong demand, with institutional subscriptions oversubscribed 15.2 times and retail 151 times. Analysts highlighted its attractive valuation at 17x P/E and its position as a blue-chip industry leader in EV batteries, despite challenges like U.S. scrutiny and trade tensions.Companies Mentioned: CATL, Coinbase, Ryman Hospitality Properties, American Water Works

S&P futures are pointing lower, down (1.2%). European equity markets are lower, near worse levels. Asian equities are broadly weaker with Hang Seng leading China markets lower. Japan, Korea and Australia all in negative territory. Overnight, treasury yields were mixed, with 2-year down 1 bp and 10-year up 7 bps to 4.5%. Dollar is weaker across the board. Gold has been rebounding after posting worst week since mid twenty twenty one. Crude and copper tracking equity market declines. Bitcoin erased earlier gain. Moody's downgraded US credit rating late Friday, citing growth in government debt and projected widening of deficits if tax cuts are extended. Downgrade plays into market's longstanding deficit concerns driven by Trump policy agenda that have contributed to upward rise in long-term yields and term premium widening to highest since 2014Companies mentioned: NVIDIA, Assura, BT Group

US equity futures are slightly weaker. European markets are firmer, while most Asian markets ended mixed. Markets continue to digest this week's US-China tariff de-escalation, with investor focus shifting toward the potential for new trade deals. Press reports suggest progress toward a US-Japan agreement, while Indian trade officials prepare to visit the US following comments from Trump about a potential zero-tariff offer from Delhi. April retail sales and core PPI both came in below expectations, while the Empire State and Philly Fed indices pointed to mixed regional activity. Fed Chair Powell avoided current policy commentary but reaffirmed the 2% inflation goal and flagged more frequent supply shocks going forward.Companies mentioned: Live Nation Entertainment, Meta Platforms, NVIDIA

US equity futures are weaker. European equity markets are lower in early trade, while most Asian markets ended in negative territory. No major developments on the US-China tariff front, though recent signs of de-escalation persist. USTR Greer is in South Korea for APEC meetings with ongoing negotiations across Asia. Meanwhile, April's CPI surprise earlier this week reduced expectations for rate cuts, with the market now pricing in less than 50 bp of easing this year. The White House hinted a new trade deal could be announced upon Trump's return, while Japan and South Korea deals are reportedly nearing completion. Attention also on geopolitical headlines including Iran's openness to a nuclear deal with the US and Russia's absence from the Ukraine peace talks in Istanbul.Companies mentioned: Dick's Sporting Goods, Foot Locker, UnitedHealth Group, Nvidia

S&P futures are pointing to a flat open, up 0.1%. European equity markets are mostly weaker, with the STOXX 600 down 0.2%. Asian equities had a mixed session, with the Hang Seng rebounding sharply, while Japan and Australia saw losses. The U.S. Commerce Department announced a revision of AI chip export rules, rescinding regulations that were set to take effect in May due to concerns over stifling innovation, regulatory burdens, and strained diplomatic ties. Companies Mentioned: Tesla, TXO Partners

S&P futures are pointing to a softer open, down (0.4%). European equity markets are showing modest gains in early trades, while Asian equities finished mostly higher, led by strong gains in Japan and Taiwan, while Hong Kong equities lagged amidst tempered stimulus hopes. Markets are digesting the U.S.-China tariff de-escalation announced Monday, with both nations implementing larger-than-expected tariff reductions following weekend talks in Geneva. However, uncertainties remain, such as whether China has committed to reducing business barriers or increasing purchase commitments. Companies Mentioned: Google, Boeing, Landsea Homes

US equity futures are higher, with S&P up 2.5%. European equity markets are also pointing up. Asian markets go broadly higher. Greater China markets outperform on latest US-China trade developments. Nikkei was lagging, mild gains for ASX and Kospi sees moderate gains. Bond yields are back up with US 10-year 7 bps higher at 4.5%. Dollar sees big gains versus Japanese yen, euro, Swiss franc and sterling. Oil higher. Gold sharply lower. Industrial metals mixed. In a significant de-escalation of the US-China trade war, both countries announced that they will significantly reduce tariffs on the other. US will reduce tariffs on Chinese goods to 30% from 145%, for 90 days and China will reduce tariffs on US goods to 10% from 125%, also for 90 days. New duties reverse reciprocal and subsequent retaliatory tariffs imposed from 2-April, while US keeps in place 20% fentanyl tariff. Companies Mentioned: Dow,Inc, MAG Silver, Banco Santander, NatWest Group

S&P futures are pointing to a slightly higher open. Asian equity markets are mixed with Japan as an outperformer and Taiwan the other notable gainer amid a rally among semiconductors. Mainland China was weaker. European markets are firmer. Overnight for US treasury yields, two year stays at 3.9% and ten year holds flat to 4.4%. Gold is firmer and WTI crude is up. Dollar is softer versus yen and euro, flat versus sterling and Aussie. Industrial metals are under pressure with iron ore sharply lower after China's steel association confirmed output curbs had begun. US may reduce China tariffs to below 60% as Trump sounds optimistic note on talks. More traction behind US-China de-escalation theme with President Trump on saying 145% tariffs on China will be coming down, predicting concessions from Beijing will help bring about a substantive outcome from trade negotiation

US equity futures gain with S&P up 0.7%. Asia equities have been trading higher with more positive developments in trade talks. European markets are also pointing higher. Overnight, treasury yields were higher, with the two year up 3.8% and ten year 4.3% . Dollar is stronger with biggest move versus Swiss franc and Japanese yen. Gold is down and WTI crude goes higher. Big trade development this week was the announcement of planned meeting between Treasury Secretary Bessent, USTR Greer and China Vice Premier He Lifeng in Switzerland this week. Press sources noted Beijing's offer to address US concerns on fentanyl, which created opening for this week's talks. White House are moving to temper expectations surrounding the meeting with Bessent reiterating talks will not be at advanced stage, echoing comments he made on Fox News that talks will be more about de-escalation than a big trade deal

S&P futures are pointing to a higher open, up +0.6%. European equity markets are mostly weaker in early trades, except with the DAX showing mild resilience after strong German factory orders data. Asian equities traded mostly higher today, led by gains in Greater China markets following the PBOC's liquidity measures. U.S. Treasury Secretary Bessent and USTR Greer will meet China Vice Premier He Lifeng in Switzerland tomorrow, marking the first high-level talks between the two nations since imposing mutual tariffs. The discussions aim at de-escalation rather than significant trade agreements, as both sides face economic pressures from the ongoing dispute. Companies Mentioned: Uber, AvidXchange, Masimo

S&P futures are pointing to a softer open, down (0.6%). European equities are mostly softer in early trades with only the FTSE 100 trading higher. In Asia, equities traded mixed as Greater China markets rallied after the Labor Day holiday, while Australia, Taiwan, and India posted losses amidst thin trading volumes. Asian currencies retreated Tuesday as the dollar stabilized and authorities dismissed speculation that forex movements were linked to tariff negotiations or a regional currency accord. Companies Mentioned: Doordash, Google

S&P futures are pointing to a softer open, down (0.6%). European equities opened mixed following a quiet Monday session for Asian markets. Asian currencies strengthened Monday as President Trump adopted a softer stance on China tariffs. The Korean won and Malaysian ringgit rose by +1.4%, while the Taiwan dollar surged +3.7%. The yuan briefly hit a six-month high, breaking through the 7.2 mark, and the Hong Kong dollar traded at the strong end of its band. The yen and rupee also advanced as the U.S. dollar index fell below 100.Companies Mentioned: SHEIN, Ant Group, Devon Energy

US equity futures are pointing to a higher open today. European markets are firmer, following notable strength in Asian markets. Global markets influenced by China Commerce Ministry's remark that Beijing is evaluating the US offer on trade negotiations, which signals China's openness to discussions. The softened tone now is being seen as a latest de-escalation signal following recent reports that Beijing has quietly exempted certain US-made goods from tariffs. Japan also aims to achieve a trade agreement with the US in June, though the country has suggested that treasury holdings are among cards it may use in talks.Companies mentioned: Viper Energy, GE HealthCare, Johnson & Johnson, Medtronic, JetBlue Airways

US equity futures are firmer, with the S&P up around 1% in premarket trading. European equity markets are steady in holiday-thinned trade, with only the UK FTSE open. Asian markets ended higher. US after-hours earnings dominated the session with Microsoft and Meta posting better-than-expected results, while Qualcomm sold off following its update. The White House trade representative confirmed the administration is nearing an announcement on the first tranche of trade deals. Separately, the US and Ukraine signed an economic partnership agreement on critical minerals and natural resources. Markets also reacted to soft Q1 US GDP data, which increased recession concerns and pushed rate cut pricing to ~100 bps by year-end.Companies mentioned: Apple, Tesla, Olo, Oracle, Toast

S&P futures are pointing to a softer open, down (0.2%), as investors brace for a heavy slate of corporate earnings. European equities are firmer in early trades, extending recent rallies. Meanwhile, Asian equities were mixed, with Japan and Australia logging small gains, while the Hang Seng edged higher after paring early losses. The Shanghai Composite and South Korea's Kospi both finished lower. Companies Mentioned: Blackstone, JetBlue, United Airlines, Sunnova Energy

S&P futures are pointing to a higher open, up +0.2% as market sentiment is buoyed by optimism over potential relief on U.S. auto tariffs. Asian equities were mixed, with solid gains in Australia and South Korea, while Greater China markets and the Hang Seng edged lower. European equities are mostly higher, with the STOXX 600 up +0.2% and German DAX up +0.5%. Market focus has shifted to corporate earnings and significant economic data releases. S&P 500 Q1 earnings are expected to show solid growth, but forward guidance has been largely negative. Earnings and macro data remain centered on the impacts of tariffs.Companies Mentioned: Amazon, Ford, Flotek Industries

S&P futures are pointing to a softer open, down (0.3%). Asian markets were mixed, with Japan and Australia posting gains while mainland Chinese indices edged lower. European equities are firmer in early trades, with major indices all up near +0.3%. The state of U.S.-China trade negotiations remains unclear, with conflicting reports and statements contributing to uncertainty. President Trump and Treasury Secretary Bessent have maintained that negotiations are ongoing, with Trump claiming multiple discussions with President Xi and emphasizing China's willingness to make a deal.Companies Mentioned: Spirit AeroSystems, Airbus, Springworks Therapeutics, Merck, Exxon Mobil

US equity futures are pointing to a higher open today, adding to solid gains for the week. European markets are slightly firmer, following three consecutive days of gains. Asian markets traded higher. Markets are taking encouragement from a function of select tariffs and Trump toning down the Fed rhetoric. China is reportedly weighing the option to exempt some goods from the 125% tariff, including chip-related products. US trade talks with other Asian officials seem to have yielded progress.Companies mentioned: Eastern Bankshares, HarborOne Bancorp, Apple

US equity futures are softer Thursday following two consecutive sessions of gains. European equity markets opened lower. Asian markets ended mixed. The US-China trade narrative continued to evolve with reports the White House is considering cutting China tariffs by more than 50%. Trump reiterated that a deal would bring substantial reductions, though not elimination of tariffs. Treasury Secretary Bessent emphasized any rollback would be conditional and that a full trade agreement could take 2–3 years. Separate trade talks with Japan, Vietnam, and South Korea continued. In earnings, TSLA's results were weak but in line with expectations, with Musk pledging to shift focus from DOGE in May. On policy, Fed Chair Powell's position appeared secure following Trump's comments, while the Fed's Beige Book cited stable activity but highlighted tariff-driven uncertainty.Companies mentioned: WW International, Columbia Banking System, Pacific Premier Bancorp, Ford, General Motors, Tesla

US equities are mostly higher with S&P and TSX futures pointing up. US 2-year yield stays at 3.8% and 10-year down 5 bps to 4.4%. Gold finished down 2.6%, bitcoin futures was up and WTI crude settled up 1.4%. European equity markets are firmer, follows broad strength in Asia, with decent gains for Nikkei and Hang Seng. Attention to the White House, President Trump said he never intended to fire Fed Chair Powell. He repeated his criticisms of Powell and said that he'd like him to be more active in terms of lowering interest rates, but that even if Powell doesn't, it would not result in his termination. Sell-side firms warned firing Powell risked inviting fresh market turbulence though there was also lingering scepticism that Trump would carry out threat to remove Powell given financial repercussions that would follow.Companies mentioned: Voyager Acquisition, VERAXA, Fonterra Co-operative Group, Intel

US equity futures are firmer with S&P 500 up around 1%. European equity markets are mostly lower and Asian markets ended mixed. Focus remains on Fed independence after Trump again called for Chair Powell to lower rates and reports surfaced he may consider firing Powell. The “Sell America” trade theme gained traction, reinforcing market concerns about eroding US exceptionalism. Meanwhile, the US pressed forward with trade talks with Asian partners, with reported progress in discussions with India. However, White House complaints about non-tariff barriers and unclear negotiation terms are creating friction. New US tariffs were levied on solar imports from Vietnam and Thailand. Companies mentioned: Amazon, Walmart, Boeing, Brookfield Asset Management

S&P futures and TSX are pointing down. US 2-year yield stays at 3.8% and 10-year yield climbing 4 bps to 4.4%. Gold settles up 2% and WTI Crude down 1.6%. Treasuries were weaker with some curve steepening, dollar index was little changed. Asia markets are mixed today. More scrutiny is on waning US exceptionalism symbolized by dollar's ongoing retreat. Bearish dollar narrative is broadening beyond tariffs to concerns about Fed's independence. Tariff headline volatility continued as President Trump on Truth Social listed eight categories that would qualify as non-tariff barriers. Japan markets are particularly sensitive to currency manipulation which was at the top of the list. Yen strengthened to a seven-month high amid growing expectations the topic will come up during the meeting between Finance Minister Kato and Treasury Secretary Bessent on the side-lines of this week's Washington G20 meeting of finance minister and central bank governors.Companies mentioned: Tesla, Alphabet, Ford Motor

US equity futures are higher. European markets opened mostly weaker and Asian equities ended broadly higher, led by gains in Japan and Hong Kong. Trade concerns continue to weigh on sentiment. NVDA disclosed a $5.5B revenue hit from US restrictions on its H20 chips, part of broader export controls targeting China. A US House report labeled AI firm DeepSeek a national security threat and called on NVDA to disclose more detail on related sales. Trump said there is "big progress" in talks with Japan, with similar outreach ongoing to South Korea, India, and the UK. ECB is widely expected to cut rates today, while Fed Chair Powell and other officials signaled caution on the inflation impact of tariffs.Companies mentioned: Pinterest, DigitalBridge Group, Perplexity AI, Samsung Electronics, Lenovo

US equities are mostly lower with S&P futures pointing down 1.49%. US 2-year yield is steady at 3.8% and 10-year down 5 bps to 4.3%. Gold extends to new record high, bitcoin futures down and WTI crude settled slightly down. Both Asian and European equity markets are lower. Hang Seng underperformed and Taiwan was sharply down. China, Japan and South Korea were also weaker. European indices are pointing down around 1%. White House formally launched national security probes into pharmaceuticals and semis, paving the way for new sectoral tariffs. However, move had been widely telegraphed and market has seemingly been more focused on recent off-ramps. In addition, with US and Japan set to talk trade this week, some thoughts bar for early deals with key allies may be low. Companies mentioned: Datagroup, SPX Technologies, NVIDIA Corp, ASML Holdings

S&P futures and TSX are pointing slightly up. Asian equities inched higher in cautious trade with a 0.8% surge in Nikkei, Hang Seng and Shanghai are slightly up with India leading the gainers as its banks and auto stocks rallied on tariff reprieve news. European equity markets are mostly higher, with major indices up near 1%. Overnight, US 10-year yield was steady at 4.4% with the 2-year up 1 bP to 3.9%. US dollar unchanged, AUD higher, NZD at four-month high, yen and yuan flat. Oil went up and gold firmer. Crude futures are slightly higher, precious metals are also resuming their upward trend, base metals are mixed. Cryptocurrencies are higher.Companies mentioned: Apple, Lowe's Companies, Ryanair Holdings, NVIDIA Corp

US futures are indicating a firmer open. European equity markets are trading higher, Asian markets ended the session with broad gains. Markets responded positively to the weekend announcement that US electronics will receive a temporary exemption from both the 10% baseline tariff and the 125% China-specific rate. The decision was seen as a modest de-escalatory move in the US-China trade standoff. However, uncertainty remains as Trump warned electronics tariffs are still under review, with potential semiconductor duties expected within 1-to-2 months. Companies mentioned: Apple, CK Hutchison, BlackRock, Crocs

US equity futures are paring early losses and indicating a marginally higher open today. European markets on the other hand have given back earlier gains and traded lower since the open, following mixed Asian sessions. Markets continue to wrestle with trade uncertainty despite Trump's tariff pause. Markets unsure about the potential for Trump to reinstate reciprocal tariffs if trade deals are not reached. And some believe the damage has been done despite the tariff reprieve.Companies mentioned: Harley-Davidson, Shein

US equity futures are slightly lower following Wednesday's sharp rebound. European markets opened higher, Asian equities closed broadly higher. Markets rallied sharply after President Trump announced a 90-day pause in higher reciprocal tariffs for 90 countries, excluding China, where tariffs were raised to 125% effective immediately. However, policy uncertainty remains elevated with a 10% baseline tariff still in place and the US-China trade dispute escalating. Long-end bond yields are pulling back after steepening earlier this week due to supply and positioning concerns. FOMC minutes showed policymakers favoring a cautious stance before adjusting rates.Companies mentioned: United States Steel, NIPPON STEEL, TSMC, Newsmax

S&P 500 was slightly up 0.04%. Asian equity markets were under pressure on Wednesday, with Japan and Taiwan performance particularly weak. Nikkei went down 3.93%, Hang Seng up 0.68%, Shanghai Composite +1.31%. European equity markets opened broadly lower, with STOXX 600 down 3 percent and FTSE 100 up 2.6%. Press declared US reciprocal tariffs came into effect with the clock moving past the 12:01 am ET deadline as stated by the White House. Most of the attention is on the highest tariff rate of 104% imposed on China. No further reaction came from Beijing so far though yesterday's backlash continued to reverberate. Full effects may take some time to filter through as goods already in transit as of midnight will be exempt as long as they arrive in the US by May 27th. Companies Mentioned: Apple, KKR, Assura, META

S&P futures are pointing to a higher open, up +1.71%, as equity markets rebound following recent volatilities. Asian equities were broadly higher today, led by a +5.6% surge in Japan's Nikkei, while other markets posted more modest gains. European equities are staging recoveries in early trades, with major indices up near +2%. For today's highlight, Trump threatened China with an additional 50% tariff unless Beijing removes its retaliatory levies. China's Commerce Ministry responded, vowing to "fight to the end" if the US escalates further. Companies Mentioned: Marvell Technology, CVS Health

US equity futures sharply lower, with S&P futures down 3.4%. European equities sharply lower and Asian equities suffered their worst declines since 2008. Markets remain pressured by ongoing tariff concerns, with Trump dismissing recent volatility and reiterating tariffs as structural measures aimed at trade rebalancing and funding. Multiple countries expressed openness to negotiations, but uncertainty persists given Trump's commitment to aggressive tariff policy. Meanwhile, China state media indicated possible frontloading of stimulus measures, including RRR and interest rate cuts. Asian authorities intervened to stabilize markets, with Taiwan temporarily banning short selling and RBI expected to provide significant cash injections.Companies mentioned: TikTok, Meta Platforms

US equity futures are lower Friday. European markets opened weaker, and Asian equities ended sharply lower again. Markets remained heavily risk-off following President Trump's harsher-than-anticipated reciprocal tariff announcements. China warned of countermeasures if tariffs persist, while Canada's Prime Minister Carney proposed retaliatory tariffs on US autos. Despite significant market turmoil, Trump remained firm, indicating no plans to soften tariffs unless "phenomenal" trade concessions are offered, including a possible China deal on TikTok. Investors are now focused on Friday's nonfarm payrolls report and Fed Chair Powell's upcoming speech for further insight into the economic and policy implications.Companies Mentioned: Brookfield Infrastructure Partners, Blackstone, Capri Holdings, Prada

US equity futures are indicating a sharply lower open amid heavy declines in American retailers and multinationals with operations in Asia. European markets have opened well in the negative territory, following plummeting Asian sessions. Global markets are digesting Trump's tariff announcement. EU vowed a response, China indicated unspecified countermeasures, Korea's acting president called for negotiations with the US and Japan is keeping its options open. The UK said it would keep negotiating for a trade deal but escaped the worst with the just baseline tariff.Companies mentioned: Ford Motor, Brookfield Asset Management

US equities saw S&P 500 going down 0.33% and Nasdaq with modest gains as worries about 20% universal tariffs and stagflation concerns surrounding the ISM manufacturing print remained overhangs. Treasury yields were flat overnight, gold higher and crude lower. The dollar index was flat, Bitcoin futures were up 3.4%. The overall performance of Asian Equity market was directionless, with no major benchmark moving higher or lower by more than 0.5%, European equity markets opened lower, following broad strength on Tuesday. Companies mentioned: JNJ, Boeing, Andreesen Horowitz, Becton Dickinson, Qualcomm

S&P futures are pointing to a slightly lower open, down (0.27%), as markets remain cautious ahead of a key tariff announcement from the White House. Markets are bracing for President Trump's announcement of reciprocal tariffs, expected Wednesday 3 PM. Speculation surrounds whether tariffs will apply broadly or be targeted by country or sector. Additionally, the U.S.-China Phase One trade deal is under review, with potential outcomes including new tariffs, export controls, or revoking China's special trade status. European equity markets are advancing in early trades, while Asian equities mostly ended higher, recovering some of Monday's losses.Companies Mentioned: Chevron, Becton Dickinson, Johnson & Johnson, OpenAI

US equity futures are lower after sharp declines on Friday. European markets opened broadly weaker, and Asian equities ended sharply lower. Markets remain unsettled ahead of Wednesday's reciprocal tariff announcement by President Trump, who indicated tariffs would apply universally to all countries, contradicting earlier suggestions of possible exemptions. Goldman Sachs revised its outlook to three Fed rate cuts in 2025, up from two previously. Inflation concerns are mounting following Friday's hotter-than-expected US core PCE inflation data, accompanied by elevated consumer inflation expectations in the Michigan survey. Meanwhile, there are signals the EU may consider concessions. Separately, the China government confirmed plans for a $69 billion capital injection into major state-owned banks to boost lending and stimulate the economy.Companies mentioned: xAI, Tesla, Blackstone, TikTok, Softbank, Nvidia, Foxconn

S&P futures are pointing to a lower open, down (0.33%), as markets grapple with escalating trade tensions and tariff developments. Major U.S. trading partners are weighing responses to President Trump's proposed 25% auto tariff. European equity futures are also signaling a dip, while Asian equities closed mostly lower, led by sharp declines in Japan and South Korea. Companies Mentioned: W.R. Berkley, Pfizer, United States Steel

US equity futures are slightly higher. European markets are weaker, and Asian equities ended mixed. Markets continue to grapple with trade uncertainty after President Trump announced permanent tariffs on imported autos starting at 2.5% on April 2, eventually rising to 25%, without exceptions. Additional tariffs on lumber and pharmaceuticals are also planned, though Trump hinted at possible leniency in reciprocal tariffs. The European Union is reportedly bracing for tariffs around 20%. On the economic front, US durable goods orders were stronger than expected. Fed policymakers highlighted rising inflation risks tied to tariffs, reinforcing expectations for an extended policy hold.Companies Mentioned: CK Hutchison Holdings, Blackrock, Hutchison Port Holdings, CK Asset Holdings, PCCW Ltd, FWD Group, ByteDance, Tiktok, Oracle, OpenAI, Softbank,

S&P futures are pointing to a flat open today, down (0.06%). European equity markets opened firmer but are trading mixed, while Asian markets closed higher, led by strength in Japan and South Korea. Markets remain on edge as the U.S. prepares to impose tariffs on copper and potentially other sectors. President Trump hinted that some countries may receive exemptions, but auto tariffs remain imminent. The so-called "dirty 15" list of countries with the largest trade surpluses with the U.S., including China, Japan, and India, continues to weigh on sentiment.Companies Mentioned: Boeing, NVIDIA, UBS

Following the rallies yesterday, S&P futures are pointing to a slightly lower open today, down (0.12%). President Trump confirmed that his 2-Apr tariff announcement will include exemptions for several countries, aligning with reports of broader reciprocal tariffs with carveouts. He indicated forthcoming product-specific tariffs targeting sectors like autos, chips, and pharmaceuticals. European markets are broadly higher in early trades while Asian markets ended today's session trading mixed.Companies Mentioned: KKR, Fuji Soft, Dropbox, Boeing, Meta