| Japan and India extended their trade negotiators’ stays in Washington, raising hope of progress toward separate tariff deals with the US ahead of Donald Trump’s July 9 deadline—a date the president said he doesn’t expect to push back. Tokyo’s point person, Ryosei Akazawa, spoke to Commerce Secretary Howard Lutnick twice on Saturday. With just 10 days to go, the White House appears poised to fall short of its promised sweeping reforms. Stock investors are vibing as trade talks progress and Middle East tensions abate, with the S&P 500 and Nasdaq 100 at record highs. But threats remain: The Bank for International Settlements warned US inflation may resurge due to Trump’s tariff policies, and money managers see a range of risks threatening the rally in the second half. Indian stocks are less of a vibe. Their haven allure is dissipating as trade tensions ease, sapping traders’ incentive to own some of the world’s most expensive shares. The MSCI India Index is now underperforming its Asia Pacific counterpart, partly reflecting slowing earnings growth, high valuations and improving sentiment toward Hong Kong-listed Chinese shares. Also seeking a spark: Australian startups. They’re far behind the US and China in funding raised despite the country’s historical effectiveness at creating unicorns, privately held companies valued at over $1 billion. The country is experiencing a funding winter, with fundraising down by almost half from a peak of $6.5 billion in 2021 to $3.4 billion in 2024. Trump’s $4.5 trillion tax-cut bill passed one key hurdle but faces a new round of debate, with Senate lawmakers set to squabble over the scope of Medicaid reductions and the pace of renewable-energy credit phaseouts. Tesla’s Elon Musk slammed the legislation, saying cuts to EV credits would be “incredibly destructive.” North Carolina Senator Thom Tillis said he won’t seek re-election next year after drawing the president’s ire for voting against advancing the tax bill. | 
