With the deadline for tariffs now moved to August 1, investors are pinning their hopes on negotiations to stave off an all-out trade war. "Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," UBS analysts said.

S&P 500 E-Mini futures (ESU25) are up +0.08%, andSeptember Nasdaq 100 E-Mini futures (NQU25) are up +0.17% this morning as initial jitters over U.S. President Donald Trump’s latest tariff moves eased,

Goldman Sachs has raised its three-, six- and 12-month return forecasts for the S&P 500, citing expectations of U.S. interest rate cuts and continued fundamental strength of major large-cap stocks as key drivers of its positive outlook.