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,

Investors are digesting Trump's stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies.