S&P 500 futures are now flat on the day after having been down around 0.3% earlier to start European trading. This is also helping to lift the broader market mood with European indices also seen marginally higher after a bit of a stutter at the open. US stocks were upbeat at the open yesterday only to lose that momentum amid some concerns on the impact of tariffs on inflation.

We're now back to a more tentative mood again with investors still keeping one eye on another push to fresh record highs. In the bigger picture, trade developments ahead of the 1 August deadline and earnings season will be in focus over the next two weeks. But for today, the US PPI data is the one to watch out for next. From earlier: What is the distribution of forecasts for the US PPI?

Source: Forex Live