Executive summary

Global markets opened the week on a cautiously optimistic note as investors digested July inflation prints and priced in an elevated probability of a Federal Reserve rate cut in September. US equity benchmarks nudged higher on Monday and Tuesday amid supportive earnings and stronger-than-expected pockets of consumer activity, while Treasury yields and the US dollar saw modest volatility as traders reassessed the Fed timing. Commodity moves were mixed: crude oil traded near the mid-$60s per barrel and gold hovered above $3,300 an ounce after last week’s swings. :contentReference[oaicite:0]{index=0}

US markets — indices, yields and the inflation backdrop

Europe & UK

European equity indices closed broadly higher on optimism that U.S. inflation trends could permit easier global financial conditions later this year. Regional divergences persisted — France and the UK outperformed modestly while Germany lagged on mixed industrial sentiment. European traders also took cues from the US CPI/PPI schedule and corporate earnings in the US. :contentReference[oaicite:6]{index=6}

What to watch: Eurozone PMIs, any ECB comments on growth/inflation and upcoming regional earnings updates.

Asia Pacific

Asian bourses were mixed: Japan’s Nikkei showed resilience driven by exporters after yen weakness, mainland Chinese markets were sensitive to tech-earnings newsflow and policy cues, while Hong Kong reacted to China-related political/economic headlines. Regional central bank moves (and trade/tariff headlines) continue to be a source of short-term volatility. :contentReference[oaicite:7]{index=7}

Note: Watch for corporate earnings from select Asian ADRs and any official comments on trade that could swing sentiment.

Commodities & crypto

Cryptocurrencies

Crypto markets remained range-bound overall; bitcoin traded in a broad band as macro risk sentiment and on-chain flows dictated intraday moves.

Corporate earnings calendar — what matters this week

Earnings season continues. Notable releases for the week (Aug 11–15) include big-cap tech and industrial names that could sway sector-level performance: Cisco Systems, Deere, Applied Materials, JD.com and others. Keep an eye on guidance language — strength/softness in services and enterprise spending will be especially important for Q3 outlooks. :contentReference[oaicite:10]{index=10}

• Cisco Systems — watch enterprise spend and backlog commentary.
• Deere & Applied Materials — speak to industrial demand and semiconductor capex trends.
• JD.com & other China names — read for consumer demand and logistics commentary.

Macro calendar & market-moving events (this week)

• US Consumer Price Index (CPI): July release—key for Fed timing and market positioning. Expect headlines to move rates, dollar and equities. :contentReference[oaicite:11]{index=11}
• Producer Price Index (PPI) and Retail Sales: follow-up data that will color growth/inflation narratives. :contentReference[oaicite:12]{index=12}
• Earnings slate: Cisco, Deere, Applied Materials, JD.com and many more across the week. :contentReference[oaicite:13]{index=13}
• Fed & central bank commentary: speeches and event takeaways will continue to be market focal points, especially as traders debate the likelihood and timing of Fed cuts. :contentReference[oaicite:14]{index=14}

Trading & portfolio implications (practical takeaways)

1. Risk management first: given mixed macro signals, keep position sizes disciplined and use stop-losses where appropriate.
2. Duration sensitivity: if you expect a Fed cut path to materialize, longer-duration assets (longer-dated bonds, REITs, utilities) could benefit from falling yields — but watch for short-term yield reprices. :contentReference[oaicite:15]{index=15}
3. Sector tilt: consider maintaining exposure to AI/tech names that continue to show revenue momentum, while selectively rotating into consumer staples and healthcare if signs of slowing consumer demand appear. :contentReference[oaicite:16]{index=16}
4. Commodities hedge: gold can be a portfolio diversifier during inflation/turmoil; oil exposure should be tactical given geopolitics and macro sensitivity. :contentReference[oaicite:17]{index=17}

Risks & watchlist

Key downside risks that could quickly alter the market narrative:

• Higher-than-expected CPI/PPI prints that push back the Fed easing timeline. :contentReference[oaicite:18]{index=18}
• Geopolitical flareups or sudden trade escalations that hit global risk appetite. :contentReference[oaicite:19]{index=19}
• Disappointing guidance from major corporates (especially tech and industrials) that point to weaker demand into Q4. :contentReference[oaicite:20]{index=20}

Snapshot — quick reference