The US equity indices ended Friday’s session mixed. The Dow Jones (US30) gained 0.46% on the day (‑0.40% for the week). The S&P 500 (US500) edged up 0.05% (‑1.03% for the week). The tech‑heavy Nasdaq (US100) closed in negative territory at 1.15% (‑2.57% for the week).

The current week will be one of the most event‑packed and critical periods of the corporate earnings season and macroeconomic calendar. Investor attention will center on quarterly results from major technology companies: Microsoft and Meta report on Wednesday, followed by Amazon and Apple on Thursday. In addition, Visa, Mastercard, Boeing, Exxon Mobil, Chevron, Qualcomm, Starbucks, Ford Motor Company, PayPal, and other key corporates will release their financial results.

Equally important will be the Federal Open Market Committee (FOMC) meeting, where policymakers are widely expected to leave interest rates unchanged. Markets will closely watch Fed Chair Kevin Warsh’s press conference for guidance on the future trajectory of monetary policy. The US macro data block includes the advance estimate of Q2 GDP growth (expected at 2.3% annualized, supported by AI‑related investment, consumer activity, and the World Cup effect), as well as June personal income and spending figures. Additional releases include the core inflation gauge – the PCE Price Index – durable goods orders, the Conference Board Consumer Confidence Index, the University of Michigan Sentiment Index, labor‑market data, and trade statistics.

The Mexican peso (MXN) strengthened to around 17.48 per US dollar. The new US tariffs of 10-12.5%, affecting roughly 60 countries, largely bypassed Mexico’s exports. Goods meeting USMCA rules of origin remain fully exempt, while products outside the preferential regime face a minimal 10% tariff (versus 12.5% for countries without trade agreements).

European indices closed higher on Friday. Germany’s DAX (DE40) rose 1.36% (+1.33% for the week), France’s CAC 40 (FR40) gained 0.88% (+0.67% for the week), Spain’s IBEX 35 (ES35) advanced 1.65% (+2.28% for the week), and the UK’s FTSE 100 (UK100) finished up 0.91% (+1.28% for the week). This week’s European market dynamics will be shaped by central‑bank decisions, key macro releases, and corporate earnings. The Bank of England (BoE) meets on Thursday and is expected to keep its policy rate at 3.75%, with investors parsing the statement for clues on future moves. In the Eurozone, highlights include the preliminary Q2 GDP print, with expectations to show modest 0.2% growth driven by Spain, France, Germany, and Italy, as well as July inflation and unemployment data. Headline inflation is expected to tick up to 2.9%, unemployment to remain at 6.2%, and Germany’s Ifo business climate to improve for a third consecutive month. Corporate earnings from AstraZeneca, LVMH, Unilever, L’Oréal, Hermès International, Intesa Sanpaolo, and Linde will also influence sentiment.

Crude oil prices fell by 3% on Friday and another 3% on Monday, sliding to around $83 per barrel amid reports of diplomatic initiatives by Pakistan and China aimed at restarting the US-Iran negotiations. Beijing’s involvement – driven by concerns over economic interests and shipping stability in the Strait of Hormuz – boosted hopes of easing tensions. Despite the pullback, oil prices gained roughly 8% over the week amid persistent geopolitical confrontation.

Japan’s Nikkei 225 (JP225) dropped sharply by 2.73% on Friday (‑2.61% for the week). China’s FTSE China A50 fell 1.04% (+1.17% for the week), Hong Kong’s Hang Seng (HK50) declined 0.98% (+0.52% for the week), and Australia’s ASX 200 (AU200) closed negative 0.75% (‑0.57% for the week).

China’s economic outlook this week will be shaped by the July Politburo meeting chaired by President Xi Jinping, where policymakers will outline the key economic priorities for the second half of the year, with targeted support measures expected instead of broad stimulus. Markets will also assess official manufacturing and services PMIs and industrial‑profit data. In Japan, attention will focus on the Bank of Japan meeting, where policy settings are expected to remain unchanged after June’s rate hike; investors will watch for signals on future steps amid a projected acceleration in Tokyo core inflation to 1.8%. Australia’s calendar features June CPI, expected to rise to 4.1%, a key input for the Reserve Bank of Australia ahead of its August rate decision.