Market Digest: Trade Optimism Lifts Wall Street as Bitcoin Struggles at $118K

Key Takeaways

Trade optimism drives global rally:
The U.S.–Japan trade agreement, alongside progress on U.S.–EU and Southeast Asian deals, lifted risk sentiment and pushed Wall Street and the Nikkei 225 to fresh gains.
Bitcoin cools near key level:
BTC hovered around $117,750, extending its consolidation phase as long-term holders trimmed positions and new inflows absorbed supply.
Gold retreats as risk appetite improves:
Gold prices slipped to $3,380.99, weighed down by renewed investor confidence and a shift away from safe-haven assets.
U.S. tech stocks extend gains:
Major tech names including NVIDIA (+2.25%) and Meta (+1.24%) posted strong sessions, supporting broader index strength on trade optimism.

Geopolitics and Market Sentiment

Global markets climbed on Thursday, July 24, as renewed trade optimism lifted Wall Street, pressured safe-haven assets, and kept Bitcoin steady near key support levels.

The gains followed a sweeping trade agreement between the United States and Japan, which continued to lift investor sentiment. The S&P 500 rose 0.78% to 6,359.63, reaching fresh record highs, while Japan’s Nikkei 225 surged for a second consecutive day, gaining 1.47% to 41,819.00, led by sharp advances in automakers and industrials.

Under the agreement, Washington will reduce tariffs on Japanese automobile imports to 15% from 27.5%, while Tokyo pledged $550 billion in long-term investments focused on U.S. infrastructure, electric vehicles, and semiconductor supply chains.

The deal is being viewed as a potential template for broader trade normalization, as the European Union and the United States are advancing toward a similar framework that could include a 15% baseline U.S. tariff on EU goods, with exemptions under discussion.

Two European diplomats said negotiations were aimed at avoiding a 30% tariff set to take effect on August 1. However, the European Commission said they would continue preparing countermeasures should talks fail.

Additionally, U.S. President Donald Trump announced preliminary trade deals with the Philippines and Indonesia. Both agreements propose 19% tariffs on goods exported to the United States, while U.S. exports to those countries would remain exempt.

The announcements followed a meeting between Trump and Philippine President Ferdinand Marcos Jr. in Washington, though it was not immediately clear if formal documents were signed.

The shift in trade tone supported a broader risk-on move across financial markets. Gold fell 0.40% to $3,417.94 as demand for safe-haven assets softened. Bitcoin slipped 1.03% to $118,801, consolidating below last week’s high near $123,000.

Global Indices

S&P 500 (SPX): 6,358.90 (+0.78%)
Dow Jones (DJI): 45,010.29 (+1.14%)
Nasdaq Composite (IXIC-D): 21,020.02 (+0.61%)
Nikkei 225 Futures (NK2251D): 41,830.0 (+1.48%)
Euronext 100 (N100-D): 1,591.16 (+1.13%)
FTSE 100 (FTSE): 9,104.0 (−0.09%)

Cryptocurrencies

Bitcoin (BTCUSD): 117,936 (−0.81%)
Ethereum (ETHUSDT): 3,589.03 (−1.08%)
Binance Coin (BNBUSDT): 762.75 (−1.80%)
Solana (SOLUSDT): 185.32 (−2.05%)

Commodities

Gold (GOLD): 3,380.99 (−0.21%)
Silver (SILVER): 39.0690 (−0.57%)
WTI Crude (USOIL): 65.50 (+0.21%)
Brent Crude (BRENT3!): 67.5626 (+0.54%)

Major Stocks

NVIDIA (NVDA): 170.78 (+2.25%)
Tesla (TSLA): 332.56 (+0.14%)
Microsoft (MSFT): 505.87 (+0.12%)
Meta (META): 713.58 (+1.24%)
Apple (AAPL): 214.15 (−0.12%)
Amazon (AMZN): 228.29 (+0.36%)

Tesla stocks showed resilience, holding near $332.56 (+0.14%) despite reporting a 12% drop in quarterly revenue and a 16% decline in net income, marking its sharpest sales slowdown in over a decade.

Forex

U.S. Dollar Index (DXY): 96.689 (−0.05%)
EUR/USD: 1.17775 (+0.09%)
GBP/USD: 1.35800 (+0.01%)
USD/JPY: 146.02 (−0.32%)