US equity futures point to a slightly firmer open, with Asian markets mostly weaker and European equities trading marginally higher. Today focus is on mounting speculation around a hawkish Federal Reserve rate cut at this week’s FOMC meeting, driving a reassessment of the pace of easing beyond December. Trade policy is also in focus after President Trump confirmed the US will permit Nvidia to export H200 chips to China in exchange for a tariff reduction, while signaling similar treatment for other US chipmakers and simultaneously threatening new tariffs on Mexico, India and other trading partners. In equities, sentiment remains fragile after Monday’s sell-off in US stocks, with pressure on tariff-exposed sectors, rising concern around higher-for-longer rates, ongoing AI-related disruption headlines, and continued attention on M&A activity and positioning after a strong two-week rebound.

Companies Mentioned: PepsiCo, Carlyle Group, Hogy Medical, Coupang