Stock indexes are up slightly today, supported by a rally in European stocks and expectations of a more accommodative Federal Reserve. M&A activity, including Anglo American acquiring Teck Resources, is also boosting the market.

Market focus this week will be on trade news and key economic data releases. The markets are pricing in a 10% chance of a 50 bp rate cut at the upcoming FOMC meeting, with additional rate cuts expected later in the year.

A federal appeals court ruled that President Trump exceeded his authority with global tariffs, but they remain in place pending appeals. The case may go to the Supreme Court. Average US tariffs are expected to rise significantly if implemented.

Overseas markets are mixed, with the Euro Stoxx 50 rising to a 1-week high, the Shanghai Composite down, and Japan’s Nikkei falling. Interest rates are down slightly, with a focus on Fed independence concerns and tariffs.

US stock movers include energy companies, Novartis AG, Nebius Group NV, Brighthouse Financial, CoreWeave, Atlassian Corp, and UnitedHealth Group among the gainers. Albemarle, SailPoint, Fox Corp, Dell Technologies, and News Corp are among the losers. Earnings reports are expected from Core & Main Inc, GameStop Corp, Oracle Corp, Rubrik Inc, SailPoint Inc, and Synopsys Inc.

Read more at Yahoo Finance: Stocks Edge Higher on Expectations for Fed Rate Cuts