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The S&P 500 Index closed up 0.14%, the Dow Jones Industrials rose 0.20%, and the Nasdaq 100 increased by 0.33% on Monday. September E-mini S&P futures and Nasdaq futures were also up by 0.14% and 0.30%, respectively. These gains followed comments from President Trump indicating openness to trade negotiations, despite earlier tariff threats that included a 30% tariff on imports from the EU and Mexico starting August 1.
China’s June exports rose 5.8% year-on-year, exceeding expectations of 5.0%, while June imports increased by 1.1%, surpassing predictions of 0.3%. Amid these developments, Cleveland Fed President Beth Hammack emphasized the need for further reductions in inflation before supporting any interest rate cuts.
The price of Bitcoin rose over 1% to a new record high, coinciding with the US House planning a “Crypto Week” to advance crypto-friendly legislation. Meanwhile, upcoming economic data releases are anticipated, including June CPI, which is expected to strengthen to 1.9% year-on-year.
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