Key Facts
• On July 28, US stock futures rose during Asian trading hours.
• S&P 500 futures increased by 0.4%, following five consecutive record highs last week.
• The US and EU agreed to impose a 15% tariff on most EU exports.
• The agreement helped avoid a severe trade war between the two economies.
• Asian stock futures showed limited movement amid cautious market sentiment.
• The Federal Open Market Committee (FOMC) meeting is scheduled this week.
• Key events include the US employment report and August 1 tariff deadline.
• Major companies like Apple, Amazon, Microsoft, and Meta will release earnings reports.
• The euro slightly strengthened against the US dollar.
• Bank of America’s Michael Hartnett warned of bubble risks in equity markets.
Summary
US stock futures rose on July 28 during Asian trading hours, with S&P 500 futures climbing 0.4%. This followed an agreement between the US and EU to impose a 15% tariff on most EU exports, averting a potential trade war. While Asian stock futures showed limited movement, market participants remained cautious ahead of key events, including the Federal Open Market Committee meeting, the US employment report, and the August 1 tariff deadline. Major US companies, such as Apple, Amazon, Microsoft, and Meta, are set to release earnings reports this week, bolstering investor confidence in US equities. Meanwhile, the euro gained slightly against the US dollar. However, Bank of America’s Michael Hartnett highlighted risks of a market bubble due to ongoing monetary and regulatory easing.
