American and European stocks went lower on Monday amid new announcements by US President Donald Trump on trade tariffs. On Saturday, he stated his intention to impose 30% duties on most imports from the EU and Mexico starting August 1.
Uncertainty in trade relations between the United States and the European Union has negatively impacted the financial outlook of European companies. According to LSEG I/B/E/S data, average Q2 profit expectations have been revised downward to -0.2% year-on-year.
US President Donald Trump announced higher tariff rates for 14 trading partners effective August 1. However, global markets’ reaction to these changes was muted. European stocks rose in the trading session after Trump’s comments.
On Monday, the pan-European STOXX 600 index rose 0.4%, strengthening its position after a weekly decline on Friday. Germany's DAX increased by 1.2%. Technology stocks were among the leaders of growth.
According to Reuters, global stock markets saw significant capital inflows during the week ending July 2. The gains were driven by record-breaking performances in US equities and increased investor interest in artificial intelligence (AI) sectors.
The CNY publication has been released
Trade Balance (USD)
114.77B
+11.55B
Up
The CNY publication is expected
Unemployment Rate
5%
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