US futures are indicating a higher open today. European equity markets are trading higher, following mostly lower finishes in Asian markets on Monday. Market attention today is focused on the recent withdrawal of President Biden from the presidential race, endorsing Vice President Harris as the Democratic nominee. This development has raised questions about the potential impact on the election trajectory, with Trump still favored to win. China unexpectedly cut the 1-year and 5-year loan prime rates by 10 basis points and the 7-day reverse repo rate by 10 basis points, the first reduction since August. Discussions continue on Bank of England rate cut expectations for August amid mixed UK data last week.
Companies Mentioned: Tellurian, Woodside Energy Group, NVIDIA (NASDAQ:NVDA)