Market Rundown: EU Stocks Recover as Trump Pauses Tariffs; Nvidia Earnings Expected

European Markets Rebound on Tariff Pause

• 📈 European stocks have fully recovered losses incurred when President Trump initially announced a 50% tariff on EU imports.
• 🤝 The pause in tariffs followed a call between President Trump and European Commission Chief Ursula von der Leyen.
• 🗓️ A new deadline of July 9th has been set for the US and EU to reach a trade agreement.
• ⚠️ Failure to strike a deal by July 9th could see the 50% tariffs on $430 billion worth of EU imports reinstated, impacting consumer prices.
• ⚖️ The EU has prepared retaliatory tariffs on over $100 billion of US exports, set to begin July 14th.

Yen Falls Amid Bond Issuance Concerns

• 📉 The Japanese yen has weakened against the dollar.
• 📉 This decline is linked to the Ministry of Finance considering a reduction in the issuance of longer-dated government bonds.
• 📊 Investor jitters over the scale of government debt have caused yields on these bonds to spike.

Nvidia Revenue Surge Expected Amidst Chip Export Curbs

• 🚀 Chipmaker Nvidia is anticipated to report a significant 65.9% jump in first-quarter revenue.
• 🇨🇳 Wall Street will be monitoring comments on the impact of stricter US curbs on exporting chips to China.
• 💡 Nvidia's CEO has stated these restrictions are too severe, and the company is reportedly developing cheaper AI chips for the Chinese market.