US-India Trade Talks Progress, Potential Furniture Tariffs, and Fed Rate Speculation

U.S.-India Trade Negotiations

• 💡 U.S. and India are continuing trade talks to resolve a stalemate, with potential tariffs on Indian exports looming.
• 🎯 President Trump has threatened to increase tariffs on Indian goods to 50% partly due to India's Russian oil purchases.

Furniture Tariffs and Trade Deals

• 📈 The U.S. is investigating tariffs on imported furniture to revitalize domestic manufacturers, as part of a broader timber and lumber probe.
• ✅ Canada is optimistic about reaching a trade deal with the U.S. after rescinding most of its retaliatory tariffs.

Federal Reserve and Market Reaction

• 📊 Stocks surged as Fed Chair Jay Powell signaled a potential interest rate cut next month, despite an unusual labor market balance.
• ⚠️ Powell noted rising downside risks to employment, which could lead to sharply higher layoffs and unemployment.

Corporate and Legal News

• 💻 Nvidia is expected to report quarterly results, with CEO Jensen Huang reportedly seeking permission to sell more powerful chips to Chinese companies.
• ⚠️ Orsted is evaluating options, including legal proceedings, after President Trump halted work on an offshore wind farm.
• 💰 HSBC's Swiss private bank is ending relationships with wealthy Middle Eastern clients deemed high-risk.
• ⚖️ Glenn Maxwell stated she had a social relationship with President Trump but never saw him behave inappropriately, and denied Epstein kept a client list.
• 🗳️ Texas Senate approved a new congressional map seen as boosting Republican chances in the 2026 midterm elections.
• 🚨 President Trump plans to expand federal deployments of the National Guard to cities like Chicago and New York, facing criticism from local officials.
• 👨‍⚖️ Lyle Menendez was denied parole due to misbehavior behind bars, similar to his brother Eric.