US equity futures are slightly weaker, Asia ended mixed, with Japan rallying strongly while most other major markets fell. European markets are mostly firmer. Focus remains on trade developments as Trump’s global tariffs take effect, with major trading partners including India and Switzerland continuing to lobby for exemptions. Japan’s Akazawa said the US will clarify that the 15% tariff will not stack on top of existing levies and that a revised auto tariff order will be signed. Commerce Secretary Lutnick signaled a likely 90-day extension of the China tariff deadline. Reports said the US has imposed tariffs on certain gold bars traded on Comex, helping push gold to record highs. In US politics, recent Fedspeak has turned more dovish, with Waller emerging as the leading candidate to replace Powell, and Trump nominating CEA Chair Miren to the Fed Board.
Companies Mentioned: Tesla, Intel, COSCO SHIPPING Holdings, CK Hutchison Holdings, BlackRock