ES and NQ, and others, futures are open for trade on Globex to begin the new week:

• ES +0.4%
• NQ + 0.6%

(those numbers will have changed by the time I hit publish, and continue to change as the session unfolds, but you get the idea).

A US official released some remarks timed to coincide with the market open (not a coincidence, I assure you!), in brief:

• EU agreed to 15% tariffs on cars, semiconductors, pharmaceuticals
• EU accepted us maintaining 50% tariffs on steel, aluminium
• EU agreed to open markets to nearly all products
• Trump pushed $1tln US energy deal, settled at $750bn

Earlier:

• Monday open levels, indicative FX prices, 28 July 2025 – EUR up on US/EU ‘framework’ deal
• US and EU reach a framework trade deal, 15% tariff rate, EU to purchase energy from the US
• U.S. and China will meet in Stockholm on Monday, 90 day extension expected
• EU President von der Leyen summarises the EU/US trade deal framework

Weekend:

• US and China to extend tariff pause by another 90 days – report

This article was written by Eamonn Sheridan at investinglive.com.

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