By Dow Jones Newswires Staff

Global stock markets and U.S. stock futures rose after a slightly lower close on Wall Street on Tuesday, while the U.S. dollar remained under pressure as expectations build for a potential Federal Reserve rate cut in September. Meanwhile, the U.S.’s global trading partners raced to secure deals as Thursday’s tariff deadline approaches. President Trump said he will unveil tariffs on semiconductors and pharmaceuticals “within the next week or so” and import levies on drugs could ultimately reach 250%. Negotiations with China, India, the European Union, Switzerland and others continue.

U.S. earnings land later from Disney, McDonald’s, Uber and Thomson Reuters.

–U.S. S&P 500 and Dow Jones Industrial Average stock futures climbed 0.5% and Nasdaq futures rose 0.3% early in Europe. The pan-European Stoxx Europe 600 gained 0.3% in morning trading, reflecting gains of around 0.5% across major national bourses. In the Nordics, Novo Nordisk’s shares were up 1.6% in early trade after it said second-quarter sales of its blockbuster Wegovy weight-loss drug soared 67% on year.

–The U.K.’s FTSE 100 added 0.2%, with the Bank of England expected to cut rates again Thursday. Drugmakers AstraZeneca and GSK were down 0.4% in recent trading.

–Asian indexes closed higher, with Japan’s Nikkei 225 index up 0.6% and Hong Kong’s Hang Seng up 0.2%.

–The dollar remained under pressure after weaker-than-expected U.S. services data on Tuesday fuelled expectations that the Federal Reserve could resume interest-rate cuts in September. The ISM’s services purchasing managers’ index fell to 50.1 in July from 50.8 in July, below the 51.2 expected by economists in a WSJ survey. It follows Friday’s worse-than-expected U.S. nonfarm payrolls report. Meanwhile, President Trump on Tuesday said he would name a replacement for Federal Reserve Governor Adriana Kugler by the end of the week. The DXY dollar index against a basket of major currencies fell 0.1% to 98.688.

–Bitcoin consolidated recent gains after its rally to an all-time high above $120,000 last month; it was up 0.4% to $114,112, according to LSEG data, having reached a record high of $123,153 on July 14.

–The Swiss franc edged down 0.1% against the euro as the country scrambles to secure a more favorable trade deal with the U.S. than the 39% levy it currently faces. Still, even with that any large tariffs on the pharmaceutical sector would hurt the economy.

–U.S. Treasury yields were up across maturities early in Europe, driven by a bigger increase in long-end yields than in short-end yields. The U.S. Treasury’s $42 billion auction of 10-year notes will be closely watched for demand.

–Benchmark oil prices rose, rebounding from the previous session’s losses as investors await more clarity ahead of a Friday deadline set by President Trump for a Russia-Ukraine ceasefire. Brent crude and WTI both gained 0.9% to $68.25 and $65.73 a barrel, respectively. Gold futures ticked lower but held near recent highs.

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

08-06-25 0428ET