Bitcoin hits fresh record as risk-on mood continues
Bitcoin surged past $113,000—setting consecutive all-time highs—as investors embraced a risk-on environment. It’s now up ~21% YTD. The rally is fueled by dovish Fed signals, improving sentiment on U.S. equities amid corporate earnings, and growing institutional interest.
Stock futures dip after Trump slaps tariffs on Canada; dollar gains
U.S. and European stock futures fell ~0.4% following Trump’s announcement of a 35% tariff on Canadian imports starting August 1, with a broader expansion covering allies like the EU, Japan, and South Korea. The U.S. dollar strengthened against the Canadian dollar (~0.3%) and euro (~0.2%) as investors sought safety.
Summary & Outlook
Today reflects a tug-of-war between trade policy and growth — tariffs create uncertainty, but strong earnings from Delta, Levi’s, along with a rally in crypto, are fueling risk appetite. The Fed’s divergent views indicate volatility ahead, with markets likely focused on earnings, trade developments, and inflation data.
