Overview

• US futures and major benchmarks retreated from record highs ahead of President Trump’s tariff letters due later today.
• India’s Sensex and Nifty closed flat as foreign investors turned net buyers, ending a five-day selling streak before US trade announcements.
• Australia’s ASX 200 slipped 0.16% to 8,589.30 with traders positioning for incoming US tariff details and a forecast RBA rate cut.
• Traders priced out July rate-cut chances and trimmed the probability of a September Fed reduction to 68% according to CME Group’s FedWatch tool.
• Nvidia’s market value inched toward $4 trillion while Tesla shares plunged over 7% after Elon Musk unveiled plans for a new political party.