
U.S. equity futures declined Sunday evening amid concerns about new tariffs against Europe and Mexico. S&P 500 futures fell 0.4%, Nasdaq 100 futures dropped 0.5%, and Dow Jones futures lost 0.4%
On Saturday, President Donald Trump announced 30% tariffs on the EU and Mexico starting Aug. 1. Both parties indicated they’ll continue negotiations for lower rates.
Investors await US inflation numbers this week that will show economic impacts of existing Trump tariffs. Investors are also watching tensions between Trump and the Fed. National Economic Council Director Kevin Hassett stated Sunday that Trump can dismiss Fed Chair Powell “if there’s cause.”
China’s exports rose 5.8% in June YoY, while imports grew 1.1% – their first increase this year. Despite this, exports to the U.S. fell 16% for the third consecutive month, even with a temporary tariff pause. China’s exports growth beat expectations in June, fueled by robust shipments to non-U.S. markets and as a temporary reprieve from U.S. tariffs helped slow the decline in goods sent to America.
China’s exports to the U.S. dropped for a third month, falling over 16% in June, but the decline eased from the prior month amid a tariff truce. Imports in June dropped 15.5%. That compares with a 34% drop in exports in May, and imports decline of 18%.
Bitcoin hit a new record above $122,000 Monday, driven by bitcoin ETF inflows. Bitcoin ETFs recorded their largest 2025 inflows on Thursday at $1.18 billion.
Investors expect new bitcoin records as corporate treasuries increase purchases and Congress considers crypto legislation. The House begins deliberating on crypto bills Monday to establish clearer industry regulations. The industry has long sought these policies, which President Trump supports as part of his pro-crypto stance.
In the Forex market, the USD is still showing strength against major currencies. EURUSD dropped to 1.1668. GBPUSD fell 30 points since the weekly open to 1.3464. And in the commodity market, silver is stealing the light from gold as it jumped more than 1.5% on Monday, reaching $39 per ounce.
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