US futures are set to open at record highs as the European Union agreed to 15% duties on most goods exported to the US. Yesterday’s agreement follows a similar deal President Trump struck with Japan earlier this month.
Markets welcomed the weekend news with rising stocks. Bonds remain stable with 10-Year US treasuries hovering around 4.38%.
And with the busiest week of earnings season still ahead, there appears to be no macro headwind—barring an unexpected earnings miss—to prevent stocks from ripping higher in the near term.
Tariff talks with China are ongoing with another 90-day extension likely as the August 12 deadline looms.
All in all, it’s trimming season for CountryDumbs who wish to fortify their cash reserves in the midst of sky-high valuations and froth as Wall Street bears point to signs of an everything bubble.