Web Trader MT5 
President Donald Trump on Monday threatened to impose substantial tariffs and restrict chip exports to countries with digital taxes. Trump threatened China with 200% tariffs if rare-earth magnet exports were restricted, jeopardizing the fragile U.S.-China trade relationship.
These comments come as Chinese rare-earth magnet exports have rebounded to pre-restriction levels. U.S.-bound shipments jumped 660% in June and another 76% in July. China controls roughly 90% of global rare-earth magnet production and mineral refining. This dominance gives the country leverage in trade negotiations, as U.S. manufacturing sectors, automotive, electronics, and renewable energy, depend heavily on these magnets.
U.S. stock futures declined Tuesday morning after President Trump said he’s removing Fed Governor Lisa Cook. Dow futures fell 0.14%, with S&P 500 and Nasdaq 100 futures down 0.14% and 0.22% respectively. . Monday saw profit-taking after Friday’s rally, with the Dow falling 0.8%, S&P 500 down 0.4%, and Nasdaq slipping 0.2%.
Markets remain optimistic about September rate cuts following Powell’s Jackson Hole statement. Investors await Nvidia’s earnings Wednesday, potentially boosting tech stocks after the Magnificent Seven rebounded Friday following five days of losses.
Today, investors and traders await reports on durable goods, consumer confidence, home prices, and manufacturing.
The dollar index (DXY) recovered yesterday following the steep decline of more than 1% on Friday after Powell’ speech. The index is now fluctuating around 98 levels. Gold prices also retreated yesterday by 0.18%, but it’s resuming the uptrend today. The precious metal is trading at $3,375 per ounce on Tuesday.
In the crypto market, bitcoin fell below $110,000 for the first time since July as profit taking and long liquidations intensified. The cryptocurrency fell to a low of $108,740 in early trading on Tuesday, but it is now recovering as it reclaimed the $110,000 level.
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