President Trump’s latest tariff threats are testing the market’s resilience after the US leader ratcheted up trade measures on everyone from Canada to Brazil to Algeria last week. Despite warnings of complacency, investors have so far behaved as if they’re counting on the president to back down, having seen previous U-turns from his administration. Meantime, the second quarter earnings season is also due to begin this week, with Wall Street expecting the weakest reporting season since mid-2023. We speak to Roderick von Lipsey, managing director, UBS Private Wealth Management.

Plus - for more insight on President Trump's latest tariff moves and a look at the week ahead in Asia, we speak to Mary Nicola, Bloomberg MLIV Strategist in Singapore.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to U.S CPI and PPI data, along with Netflix earnings.
• In the UK – a look ahead to a speech from UK Chancellor Rachel Reeves.
• In Asia – a look at several key data points for the Japanese economy.

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The story of US tariffs has dominated much of the conversation for markets. Earlier today, stocks advanced Thursday in a sign investors are shifting their focus from concerns about lower growth and higher inflation from tariffs to instead prepare for corporate earnings season, which starts in a few days. We speak to Keith Buchanan, Senior Portfolio Manager at Globalt Investments.

Also - contracts for the S&P 500, which gained early in Asian trading, dipped 0.2% after Trump said he plans to impose ‘blanket’ tariffs of 15% or 20%. We get insight from Nadia Grant, Head of Global Equity at BNP Paribas Asset Management.

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Bitcoin surged past $112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small. The original cryptocurrency rose as much as 3.1% to $112,009, pushing its gain this year close to 20%. The move underscores the speculative momentum gripping markets even as President Donald Trump unleashes a fresh barrage of tariff announcements. The crypto rally is far from isolated: Nvidia Corp.’s brush with a $4 trillion valuation in Wednesday trading helped push the S&P 500 within a whisker of its record, with fast-money investors joining the stock-market fray. We speak to Matthew Tuttle, CEO & CIO at Tuttle Capital Management.

Also - President Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva. In a letter posted to his social media account, Trump cited Jair Bolsonaro — the right-wing former president and Lula rival who is facing a trial on charges that he attempted a coup following his 2022 election defeat. For more insight, we heard from Deborah Elms, Head of trade policy at Hinrich Foundation.

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President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals. The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called “reciprocal” tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements. For more the market outlook, we speak to Frances Stacey, Economic Strategist at Scarlet Oak Financial.

Plus - Stephen Olson, Yusof Ishak Institute Senior Visiting Fellow and Former US Trade Negotiator gives us insight on where President Trump is going with his latest tariff announcement.

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President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, but suggested that he was still open to additional negotiations and pushed off increased duties until at least Aug. 1. Trump began the notifications with missives announcing his intent to impose 25% levies on goods from Japan and South Korea. A dozen more followed throughout the afternoon, outlining plans to tariff foreign goods from trading partners including South Africa, Indonesia, Thailand and Cambodia. We speak to Ahmed Riesgo, Chief Investment Officer at Insigneo.

And for more analysis, we heard from Skyler Weinand, Chief Investment Officer at Regan Capital.

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Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate. Also, central banks in Australia, South Korea, and Malaysia are expected to keep interest rates on hold in the week ahead. We speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.

Plus - for more insight on President Trump's tariff deadline nearing and the economic week ahead for Asia, we heard from Trinh Nguyen, Natixis Senior Emerging Asia Economist.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to Delta earnings and a summer travel outlook.
• In the UK – a look ahead to JP Morgan's Jamie Dimon visit to Ireland ahead of the US tariff deadline for Europe
• In Asia – a look at how recent data from China are providing an ambiguous read on the health of the world's second largest economy.

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