Overview
- The S&P 500 climbed 0.8% and the Nasdaq Composite gained 1%, positioning U.S. stocks for a third weekly advance on strong corporate earnings.
- Japan’s Topix remains at an all-time high supported by robust domestic earnings and spillover from Wall Street gains despite six months of falling real wages.
- India’s Sensex and Nifty tumbled to three-month lows following President Trump’s 50% tariff on Indian exports and sustained foreign fund outflows.
- President Trump has announced a 100% tariff on semiconductor imports from nations without U.S. production plans and has paused further trade talks with India.
- Market participants now see a high probability of Federal Reserve interest rate cuts as early as September in response to mixed economic signals and elevated trade tensions.