U.S. stock futures fell alongside the dollar, while crude oil tumbled after OPEC+ agreed to boost supply. The S&P 500’s longest winning streak in two decades is at risk as trade uncertainty lingers.
President Trump said he has no plans to speak with China’s leader this week but hinted at possible trade deals with other nations. The dollar slipped for a second day, lifting Asian currencies, with Taiwan’s dollar surging 5%—its biggest jump in decades. Brent crude dropped over 3%.
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Despite recent market gains on trade optimism, analysts warn that a U.S.-China deal is key for sustained growth. “Trade-deal hopes are fading as talks drag on,” said Saxo Markets’ Charu Chanana.
Investors now await the Fed’s policy decision Wednesday, with rate cuts expected later this year. Meanwhile, OPEC+’s production hike adds pressure as trade wars weaken demand.
In corporate news, Shell is reportedly considering a bid for BP, while Warren Buffett will step down from Berkshire Hathaway after 60 years.
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