Overview
- Global equity indexes hit fresh highs after US CPI held at 2.7% year-on-year in July, with month-on-month inflation slowing to 0.2%.
- CME FedWatch signals roughly a 96% probability of a 25-basis-point rate cut by the Federal Reserve in September.
- President Trump signed a decree extending the US-China tariff pause for 90 days, while Nvidia and AMD agreed to pay 15% of AI-chip revenues from China to the US government.
- Valneva’s stock surged over 11% following a report of €97.6 million in first-half revenue and reaffirmed 2025 guidance.
- Markets remain cautious ahead of the scheduled Trump–Putin summit in Alaska, which could affect Ukraine sanctions and European defence stocks.