🗞️ Financial Summary
Trade Tensions: President Donald Trump escalates trade tensions by announcing new unilateral tariffs set to take effect on August 1, impacting key partners such as South Korea and the EU.
Trump's Fiscal Package: The approval of a $3.4 trillion fiscal package by the U.S. Congress marks a radical shift, cutting social programs and reversing clean energy policies.
Bubble Risks: Michael Hartnett of Bank of America warns of an imminent bubble risk in the S&P 500, which is nearing a sell signal at 6,300 points.
Tariff Impact: Asian markets are on alert ahead of Trump's impending tariff deadline, with investors adjusting their portfolios in anticipation of volatile changes.
Market Movements: The announcement of tariffs affects European firms like Remy Cointreau and Pernod Ricard, while Norwegian Air Shuttle sees a rise following strong traffic results.
Russian Response: Russia conducts a record airstrike in Ukraine amid tense talks between Trump and Putin.
Immigration Crackdown: The U.S. intensifies immigration measures with a budget that enhances the capabilities of ICE and Border Patrol.
Investments in Asia: Investors in Asia brace for volatility due to Trump's tariffs, with some opting to reduce exposure to equities.
International Relations: The U.S. withdraws its chief diplomat in Colombia following the deterioration of relations.
Trade Agreements: Vietnam and the United Kingdom finalize trade agreements with the U.S., but many other countries remain uncertain.
Energy Markets: The global energy transition is intensifying, highlighting the importance of strategic decisions for a sustainable future.
Biden Initiative: Trump's new legislation dismantles the clean energy policies of the previous administration.
Stock Indices: The S&P 500 and Nasdaq continue to rise, driven by the technology sector and artificial intelligence.
Monetary Policy: The expectation of interest rate cuts in the U.S. continues to attract investment flows into equity markets.
UK Real Estate Market: MJ Gleeson faces challenges with profit warnings at the lower end of market expectations.