Global Markets Mixed as U.S.-China Tariff Deadline Approaches

Global markets exhibited mixed performances on Monday as investors awaited the expiration of the U.S.-China tariff truce set for Tuesday. The 90-day pause, initiated in May, is nearing its end without a clear indication from President Donald Trump on whether it will be extended. Recent trade discussions in Stockholm concluded without a definitive agreement, leaving markets uncertain about potential tariff escalations.

In Europe, Germany's DAX edged down 0.1% to 24,127.50, and France's CAC 40 declined 0.2% to 7,728.58. Conversely, the UK's FTSE 100 rose 0.2% to 9,114.27. U.S. futures showed slight gains, with the S&P 500 up 0.1% and the Dow Jones Industrial Average increasing by 0.2%.

Asian markets presented a mixed picture. Hong Kong's Hang Seng increased by 0.2% to 24,906.81, and the Shanghai Composite rose 0.3% to 3,647.55. Taiwan's Taiex gained 0.5%, bolstered by a 0.4% rise in TSMC shares amid reports that U.S. semiconductor companies like Nvidia and AMD agreed to remit 15% of their China sales to the U.S. government in exchange for export licenses. In pre-market trading, Nvidia's shares were down 0.6%, while AMD's declined by 1.7%.

Oil prices continued their downward trend, influenced by expectations of progress in the Ukraine conflict ahead of Trump's scheduled meeting with Russian President Vladimir Putin on Friday in Alaska. Increased output from OPEC+ countries also contributed to the decline, with U.S. benchmark crude oil shedding 16 cents to $63.72 per barrel and Brent crude decreasing by 9 cents to $66.50 per barrel.

Investors are also anticipating key U.S. economic data this week, including inflation reports and retail sales figures, which could influence Federal Reserve policy decisions. The potential resumption of higher tariffs on Chinese goods adds to the market's cautious sentiment as the deadline approaches.