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Global Markets Edge Higher as Yen Firms and Yields Fall Ahead of Tech Earnings

US trade negotiators face pressure to seal deals before a firm August 1 tariff implementation

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Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on July 18, 2025, in New York City. Upbeat company earnings and healthy US data buoyed stock markets on Friday, pushing ongoing concerns about President Donald Trump's tariffs into the background. New York -- whose S&P 500 and Nasdaq Composite struck record highs on July 17 -- held on to gains, even if the Dow struggled a little at the start. Most European and Asian markets were pulled higher as well. (Photo by ANGELA WEISS / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)
German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 18, 2025.    REUTERS/Wolfgang Rattay/ File Photo
Sir Jon Cunliffe’s review has 88 proposals, covering the English and Welsh water industriesredit should read: Rui Vieira/PA Wire

Overview

  • Japan’s ruling coalition lost its upper house majority for the first time since 1955, with the yen strengthening to just under ¥147.7 per dollar after Prime Minister Shigeru Ishiba vowed to remain party leader.
  • Treasury yields fell to 10-day lows after Fed Governor Christopher Waller reiterated his support for near-term rate cuts.
  • Futures for the S&P 500, Nasdaq 100 and Dow rose roughly 0.25% on Monday as investors shrugged off weekend political uncertainties.
  • Brent crude held near US$69 a barrel and WTI remained flat amid expectations that EU sanctions will have minimal impact on Russian oil supplies.
  • Investors are focusing on this week’s earnings kickoff from Magnificent Seven tech firms including Alphabet and Tesla while US negotiators race to finalize deals before August 1 tariffs take effect.