{"id":51239,"date":"2025-07-30T10:08:29","date_gmt":"2025-07-30T14:08:29","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-eye-trade-talks-and-economic-data-amidst-central-bank-moves\/51239\/"},"modified":"2025-07-30T10:08:29","modified_gmt":"2025-07-30T14:08:29","slug":"global-markets-eye-trade-talks-and-economic-data-amidst-central-bank-moves","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-eye-trade-talks-and-economic-data-amidst-central-bank-moves\/51239\/","title":{"rendered":"Global Markets Eye Trade Talks and Economic Data Amidst Central Bank Moves"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US Pending Home Sales<\/strong> saw an unexpected decline of <strong>-0.8%<\/strong> in June, missing estimates and signaling a potential slowdown in the housing market.<\/li>\n<li>White House Senior Adviser <strong>Kevin Hassett<\/strong> indicated &quot;still hope&quot; for progress in trade negotiations with <strong>Canada<\/strong> and confirmed President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> will be briefed on <strong>China<\/strong> trade today, suggesting potential near-term developments on key tariff fronts.<\/li>\n<li>Hassett also highlighted President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#39;s frustration with <strong>India<\/strong> trade progress, suggesting a <strong>25% tariff<\/strong> could address the situation, while expressing optimism for India to open its market.<\/li>\n<li>The <strong>Bank of Canada<\/strong> maintained its key interest rate at <strong>2.75%<\/strong> as expected, but acknowledged a significant <strong>25% drop in Canadian exports<\/strong> in Q2 and widened the output gap, indicating possible future rate cuts if economic weakness persists.<\/li>\n<li><strong>JPMorgan Chase<\/strong> (<a href=\"\/stock\/JPM\">JPM<\/a>) has partnered with Coinbase to allow Chase credit card holders to fund crypto purchases, marking a significant shift in the bank&#39;s stance on digital assets.<\/li>\n<\/ul>\n<h2>Trade Developments Dominate Headlines<\/h2>\n<p>White House Senior Adviser Kevin Hassett offered insights into ongoing trade discussions, stating there is &quot;still hope for progress&quot; with <strong>Canada<\/strong>, indicating that negotiations remain fluid. On the <strong>China<\/strong> trade front, Hassett confirmed that President Trump is scheduled to receive a briefing today, a development that could precede significant policy announcements and potentially impact market sentiment.<\/p>\n<p>Regarding <strong>India<\/strong>, Hassett conveyed President Trump&#39;s frustration with the lack of progress in trade relations. He suggested that a <strong>25% tariff<\/strong> would be a measure to &quot;address and remedy&quot; the situation, while also expressing hope that India would open its market to the U.S. and reconsider business practices. Hassett emphasized that a trade deal with India could be an &quot;absolute game changer for the global economy.&quot;<\/p>\n<p>Italy&#39;s Economy Minister also weighed in on trade, stating the government has proposals for the U.S. regarding a web tax to prevent retaliation. The Minister noted that a potential EU-US deal on tariffs could negatively impact Italian GDP by up to <strong>0.5% in 2026<\/strong>.<\/p>\n<h2>Economic Indicators and Central Bank Action<\/h2>\n<p>The latest U.S. economic data showed <strong>Pending Home Sales<\/strong> unexpectedly declined by <strong>-0.8%<\/strong> in June, falling short of the <strong>0.2%<\/strong> estimate and reversing the previous month&#39;s <strong>1.8%<\/strong> increase. Despite this, Hassett projected a robust <strong>4% growth<\/strong> for the third quarter for the U.S. economy.<\/p>\n<p>The <strong>Bank of Canada<\/strong> held its key interest rate steady at <strong>2.75%<\/strong>, aligning with market expectations. However, the central bank reported a substantial <strong>25% drop in Canadian exports<\/strong> and a <strong>10% fall in imports<\/strong> during Q2. The Bank of Canada also noted that domestic demand grew just over <strong>1%<\/strong>, and the output gap widened, indicating possible rate cuts if weak economic growth further reduces inflation. Governor Tiff Macklem stated that while tariffs in other agreements suggest the U.S. is not returning to free trade, the worldwide effects of U.S. trade policies have been less severe than anticipated so far.<\/p>\n<p>Hassett reiterated the White House&#39;s <strong>100% respect for Federal Reserve independence<\/strong> and noted that the Fed is &quot;very data-dependent&quot; and expected to &quot;catch up soon.&quot;<\/p>\n<h2>Corporate and Market Updates<\/h2>\n<p>In corporate news, <strong>JPMorgan Chase<\/strong> (<a href=\"\/stock\/JPM\">JPM<\/a>) has announced a partnership with Coinbase, allowing Chase credit card holders to fund crypto purchases on Coinbase starting in fall 2025. This marks a significant shift for the bank, which was previously led by a vocal crypto critic.<\/p>\n<p><strong>Nvidia Corp.<\/strong> (<a href=\"\/stock\/NVDA\">NVDA<\/a>) saw its target price raised by Morgan Stanley to <strong>$200.00<\/strong> from <strong>$170.00<\/strong>. Meanwhile, <strong>Hycroft Mining<\/strong> (<a href=\"\/stock\/HYMC\">HYMC<\/a>) announced a new drill campaign, targeting <strong>14,500 meters<\/strong> of fresh drilling at its Nevada mine starting in early August, igniting bullish sentiment.<\/p>\n<p>At market open, the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> was up <strong>0.08%<\/strong> at <strong>6,375.70<\/strong>, the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a><\/strong> rose <strong>0.03%<\/strong> to <strong>44,647.08<\/strong>, and the <strong>NASDAQ<\/strong> climbed <strong>0.19%<\/strong> to <strong>21,138.63<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US Pending Home Sales saw an unexpected decline of -0.8% in June, missing estimates and signaling a potential 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