Overview

• President Trump has threatened 30% tariffs on imports from Mexico and the European Union starting August 1 to push for new trade agreements
• The Nasdaq Composite closed at a fresh record for a second consecutive session while the S&P 500 and Dow Jones Industrial Average fluctuated near their own peaks
• June’s US consumer-price index rose 2.7% year over year, keeping inflation above the Federal Reserve’s target and reducing the odds of near-term rate cuts
• Major banks delivered mixed second-quarter previews, with Citigroup and JPMorgan beating expectations while BlackRock and Wells Fargo missed revenue forecasts
• Investors are now focused on tomorrow’s consumer-price index release and the start of second-quarter earnings to find fresh market direction