Overview

• The president announced a 30% levy on EU and Mexican imports effective August 1, prompting a roughly 0.5% slide in Dow, S&P and Nasdaq futures.
• Leaders of the EU and Mexico extended suspensions of countermeasures into early August and expressed intent to seek a negotiated settlement.
• U.S. equity indexes held near record levels on Monday, suggesting investors have grown more immune to the latest tariff threats.
• Second-quarter earnings kick off Tuesday with major banks including JPMorgan Chase, Wells Fargo and Citigroup under scrutiny.
• Market participants are bracing for June consumer and producer price data and watching White House scrutiny of Federal Reserve Chair Jerome Powell.