Global markets are facing a data-heavy Tuesday, with investors bracing for key updates on U.S. inflation, bank earnings, and China’s economic growth—all while Nvidia adds new fuel to the AI rally.
In China, Q2 GDP grew 5.2% year-on-year, slowing but beating analyst expectations, signaling resilience despite U.S. tariff pressures. However, weak domestic demand and ongoing global trade risks are forcing Beijing to consider more economic stimulus.
Meanwhile, President Trump’s new 30% tariff threat on European goods is rattling markets, raising fears of a major hit to transatlantic trade and Europe’s export-driven economy.
Tesla launched its Model Y in India at $70,000—the highest price globally—testing its strategy in a market CEO Elon Musk has criticized for steep import duties.
Commodity data from China shows mixed import patterns, reflecting the country’s growing sensitivity to global pricing. In agriculture, U.S. corn harvests remain strong, but future yields face weather-related risks.
On the tech front, Nvidia surged another 4% after-hours, announcing plans to resume sales of its H2O AI chips to mainland China, following CEO Jensen Huang’s meeting with President Trump. Nvidia, now valued at over $4 trillion, said the U.S. government will issue licenses soon. The move raises geopolitical concerns amid fears that AI chips could aid Chinese military development.
U.S. futures pointed higher, following Monday’s gains on Wall Street.