The 17th BRICS summit began on Sunday at Rio de Janeiro, Brazil.

Wall Street was closed on a positive note on Thursday as strong labor market figures cemented the approach to a flexible economy. Dow Jones Industrial Average added 0.77 percent to finish the trading at 44,828.53. NASDAQ Composite also held 1.02 percent rallies to close trading at a record high of 20,601.10. Equity markets in the US were closed for Independence Day on Friday.

The European market, however, closed on a negative note on Friday as trade tension with the United States was continuously promoted. PAN-European Stoxx-50 tumbled more than one percent. France’s CAC 40 declined by 0.75 percent. Germany’s Dax lost 0.61 percent. Switzerland’s SMI declined by 0.05 percent while UK’s FTSE 100 closed on a flat note.

Current indications from European stock futures indicate a mild positive feeling. DAX Futures (SEP) is trading 0.21 percent more. CAC 40 Futures (Jul) has increased 0.11 percent. FTSE 100 Futures (SEP) has added 0.17 percent. PAN-European Stoxx 50 Futures (SEP) has increased by 0.08 percent. The SMI Futures (SEP) had closed down by 0.07 percent on Friday.

American stock futures are trading under the flatline. The US 30 (DJIA) is trading 0.32 percent less, while the US 500 (S&P 500) is trading 0.49 percent below the flatline.

The Asian stock markets are mostly trading on negative notes amid fresh tariff warning by President Trump in BRICS nations. Japan’s Nikkei 225 has fallen 0.62 percent. Hong Kong’s Hang Seng has fallen by 0.34 percent. Australia’s S&P ASX 200 is trading 0.18 percent less than the 200 Reserve Bank of Australia by a widely expected rate cut. China’s Shanghai Composite has slipped 0.15 percent. India’s Nifty 50 has fallen by 0.04 percent. South Korea’s Kospi, however, has increased 0.30 percent. DJ New Zealand has also held 0.44 percent rallies.

The dollar index is trading at around 97.15 of the flatline, a measure of the US dollar strength relative to the six currencies. Latest tariffs promoted greenbacks. The EUR/USD pair, meanwhile, declined by 0.12 percent to 1.1765, while the GBP/USD pair fell 0.27 percent to trade on 1.3616.

Gold prices softened amid dollar flexibility and from 9 July to 1 August, there was a decline in demand for safe haven after President Trump to extend the tariff deadline. Gold futures for August disposal are trading at $ 3,316.81, which is 0.89 percent less than the previous 3,346.50.

In August, a large-to-first output increase by OPEC+ dragged the prices of crude oil. Oil prices have come close to half a percent from Friday level. The Brent crude futures for September disposal are $ 68.00 vs $ 68.30 a day before. The WTI crude futures for August disposal are $ 66.26 vs $ 66.50 on Friday. The major data updates due to this sector include the Industrial Production from Germany for May, the Halifax House Price Index for June -along with the retail sales data from the UK to May.

Major updates of earnings from the region include fabies, lexibucu linguistic electronic systems, Eco animal health groups as well as Chromek Group.

The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.