Overview

• U.S. stocks fell Tuesday after Powell reiterated a data-dependent stance without guidance on next moves, while Treasury yields and the dollar firmed.
• Gold notched fresh all-time highs on Comex, supported by expectations for further Fed easing, persistent geopolitical risk and steady central-bank buying.
• Oil rose roughly 1.5% to 1.8% as the president urged Europe to curb Russian energy purchases and reports flagged Ukrainian strikes on Russian infrastructure.
• European defense shares gained following Trump’s Ukraine remarks, with regional equity benchmarks finishing mixed as investors weighed geopolitics and Fed signals.
• Brazilian assets reflected a tentative thaw after a brief Lula–Trump exchange and plans for talks next week, with DI rates falling Tuesday and the Ibovespa holding near records today.