Overview

• Global equities rose modestly Tuesday after President Trump formalized a 90-day tariff truce extension with China, giving markets a small lift.
• Nvidia and AMD agreed to remit 15% of AI-chip revenues from China to the US government, easing concerns over stricter tech export controls.
• US CPI data due Tuesday and the PPI on Thursday are poised to shape Federal Reserve policy and validate growing market bets on a September rate cut.
• European defense names including Thales, Safran and Dassault Aviation slid this week as traders factored in geopolitical uncertainty ahead of the Trump-Putin summit in Alaska on Ukraine.
• The Fed’s benchmark rate has held at 4.25%–4.50% since December, with CME tools showing a widespread expectation of a 25-basis-point cut at the September meeting.