Federal Reserve officials are considering rate cuts amidst strong market easing expectations following a quarter-point Fed rate cut prediction. The corporate earnings season has boosted Wall Street indexes, with tech and defense firm Palantir surging 6%. San Francisco Fed President Mary Daly signaled rate cuts may be imminent due to softening job market evidence and lack of inflation signs.

Speculation continues regarding potential changes to U.S. tariffs before the August 7 deadline. Switzerland seeks a better deal after facing a 39% tariff, while the EU aims to solidify the July trade deal with U.S. officials. Asian and European stocks are on the rise, with Japan’s Nikkei advancing as the yen weakens. China and Hong Kong stocks climb after a private-sector survey shows strong recovery in China’s services activity.

U.S. President Trump threatens to raise tariffs on Indian goods over Russian oil purchases, deepening the trade rift. A record number of Chinese companies seek U.S. listings amid strict domestic rules. South Korea prepares measures to help companies cope with higher U.S. tariffs. Trump’s firing of a top labor official raises concerns about political interference, and Asia’s thermal coal imports increase driven by North Asia.

Investors are eyeing Palantir Technologies as a winner in AI and defense super cycles, with a soaring market cap exceeding $363 billion. The firm’s stock rises 6% after raising annual revenue forecast. Today’s market events include U.S. international trade balance data and corporate earnings reports from various companies. Treasury auctions $58 billion of 3-year notes.

Read more at Yahoo Finance: Morning Bid: Fed coos, Palantir soars