US stocks opened higher on Wednesday after President Donald Trump extended the deadline for new trade tariffs to August 1, calming market nerves and lifting major indices. The S&P 500 was up 0.5%, the Dow Jones Industrial Average rose 219 points (0.5%), and the Nasdaq Composite gained 0.7% in early trade.The White House had earlier set July 10 as the deadline for countries to reach new trade deals or face sharply higher tariffs. Only two agreements — with the UK and Vietnam — have been finalised since April. The one-month extension gave traders room to breathe, especially after recent volatility linked to tariff risks and global trade tensions, AP reported.Pharma major Merck announced a deal to acquire UK-based Verona Pharma for approximately $10 billion, aiming to add the company’s COPD treatment Ohtuvayre to its portfolio. Verona shares jumped over 20% following the announcement, while Merck shares remained largely flat.Delta Air Lines will report earnings on Thursday, officially starting the second-quarter results season. Analysts expect the airline’s profits to fall year-on-year, as consumer demand faces pressure amid uncertainty over the inflationary effects of Trump’s tariff strategy.Fed minutes, oil and copper prices, and global cues on the radarInvestors are awaiting the release of the US Federal Reserve’s June meeting minutes later today. The central bank had held interest rates steady for a fourth consecutive time amid uncertainty around the impact of tariffs on inflation and job growth. Treasury yields dipped slightly in morning trade, with the 10-year note yielding 4.36%.Crude oil prices were marginally higher, with US benchmark crude up 12 cents to $68.45 a barrel and Brent crude rising 11 cents to $70.26. Copper, which surged on Tuesday after Trump announced a 50% import tariff on the metal, cooled slightly.European markets were mostly in the green by midday: Germany’s DAX was up 1.1%, France’s CAC 40 gained 1.3%, and the FTSE 100 inched 0.2% higher. In Asia, Japan’s Nikkei 225 added 0.3% and South Korea’s Kospi rose 0.6%, while China’s Hang Seng fell 1.1% and Shanghai’s Composite dipped 0.1%. India’s BSE Sensex closed 0.1% higher at 83,722.05.Mizuho Bank said in a research note that “sectoral carve-outs” remained a sticking point in trade negotiations, especially with allies like Japan and South Korea. The bank warned that underestimating China’s potential retaliation could pose “far more consequential” risks to global supply chains.The dollar traded at 146.66 yen, up slightly from 146.54, while the euro slipped to $1.1707.
