S&P futures are pointing to a lower open today, down (0.6%). European equity markets also opened in the red, with the major indices roughly down by (0.5%). Asian markets traded mixed with Greater China markets outperforming. The Hang Seng surged +1.8%, boosted by gains in consumer-oriented and property stocks, while the Shanghai Composite hit a 3.5-year high. President Trump announced a 35% tariff on Canadian goods not covered by the USMCA, effective 1-Aug, increasing from the current 25%. Energy-related goods remain at a 10% tariff. Trump hinted at potential baseline tariffs of 15 to 20%, up from the current 10%, and suggested similar measures might target the EU soon.
Companies Mentioned: Google, Boyd Gaming, Panasonic