Overview
- Wall Street futures climbed about 0.6% Monday, recovering from Friday’s sharp sell-off triggered by weak July jobs data and new US import duties
- Investors pushed odds of a September Federal Reserve rate cut to around 80%–90% after the economy added just 73,000 jobs in July and unemployment rose to 4.2%
- President Trump’s fresh tariffs of 10%–41% on imports from Canada, India, Brazil, Taiwan and other partners are scheduled to take effect this week, reviving trade uncertainty
- Asian markets extended their downturn into a seventh consecutive session before showing signs of stabilization, with mixed moves across major regional benchmarks
- Political tensions over economic policy intensified as President Trump fired the Bureau of Labor Statistics commissioner and Fed Governor Adriana Kugler announced her early resignation