Major global financial news headlines overnight and this morning include:
1. Trump prepares to visit UK, hints at willingness to make trade concessions 2. US and India restart trade negotiations, both sides describe talks as "positive" 3. Charlie Kirk shooting suspect charged with first-degree aggravated murder in Utah 4. Milan sworn in as Federal Reserve Board member, arrives in time for policy meeting 5. Bank of America strategist: Economic growth expectations surge, global equity markets may rise further 6. Gold price breaks through $3700 for first time, reaching new record high
**Trump Prepares to Visit UK, Hints at Trade Concessions**
President Trump hinted on the eve of his UK visit that he is willing to make some trade concessions to Britain to ease pressure from tariff agreement implementation.
"They want to see if they can fine-tune the trade deal a little bit," Trump told reporters at the White House on Tuesday as he prepared to depart for London for his second state visit. "We have a deal, it's a great deal, and I'm willing to help them."
The UK was the first country to reach a trade agreement with the US, avoiding some of the higher tariffs Trump imposed on other trading partners. However, the preliminary agreement was vague on many key details, leaving them for subsequent negotiations. Even after Trump and British Prime Minister Starmer signed documents in June with the US agreeing to reduce tariffs on some British exports, Britain continues pushing for further reductions, particularly on steel tariffs – a key sticking point.
The US currently imposes 25% tariffs on British steel and aluminum exports to America, lower than the 50% tariffs Trump levies on other economies, but London is eager to reduce this rate further.
**US and India Restart Trade Negotiations, Both Sides Call Talks "Positive"**
The US and India said their trade negotiators held "positive" talks in New Delhi on Tuesday, as both sides seek to ease tensions following President Trump's implementation of 50% tariffs on India last month.
Following the day-long talks, the Indian government said in a statement that both countries agreed to "intensify efforts" to reach a trade agreement. The statement described the discussions as "positive and forward-looking, covering all aspects of the trade agreement."
The US Embassy in New Delhi said in a separate statement that US Assistant Trade Representative Brendan Lynch held a "positive meeting" with India's chief negotiator Rajesh Agrawal, discussing next steps in bilateral trade negotiations.
**Charlie Kirk Shooting Suspect Charged with First-Degree Aggravated Murder in Utah**
Utah prosecutors have formally charged the suspect in the Charlie Kirk assassination case with murder. The case has sparked strong reactions in conservative circles, with Trump and his allies viewing it as evidence of escalating political violence against conservatives.
In an indictment released Tuesday, prosecutors charged 22-year-old suspect Tyler Robinson with first-degree aggravated murder. Robinson was arrested in Utah last week and is expected to make his first court appearance Tuesday afternoon.
At a press conference announcing the charges, Utah County Attorney Jeff Gray said he hopes the judge will sentence Robinson to death.
"I did not make this decision lightly," Gray said. "This is my independent judgment as county attorney based on available evidence and the severity of the case."
**Milan Sworn in as Fed Board Member, Arrives in Time for Policy Meeting**
The Federal Reserve said in a statement that Stephen Milan was sworn in as a Federal Reserve Board member on Tuesday, paving the way for his participation in this week's closely watched Federal Open Market Committee meeting.
Milan was nominated by Trump for a term lasting until January 31 next year. His nomination was confirmed by the Senate Monday evening in a largely party-line vote. He has faced Democratic criticism for remaining as Chairman of the White House Council of Economic Advisers, a position for which he is taking unpaid leave.
Despite this unusual arrangement, Milan has indicated he will act independently at the central bank based on his analysis of the economy and economic policy.
**Bank of America Strategist: Economic Growth Expectations Surge, Global Equity Markets May Rise Further**
Bank of America's Michael Hartnett said global equity markets may rise further as surging economic growth expectations give bulls firm control.
The bank's latest survey shows 28% of global fund managers are overweight stocks, the highest level in seven months. Hartnett said views on economic growth showed the most significant improvement in nearly a year, with only 16% of investors now expecting economic weakness.
"Bulls are abundant" as risks of a "recessionary trade war" diminish, the strategist wrote in a report. He added that equity market exposure has not reached extreme levels, currently favoring continued gains.
**Gold Price Breaks Through $3700 for First Time, Reaching New Record High**
Gold prices hit a new record as investors bet the Federal Reserve will cut rates this week and assess the possibility of further monetary policy easing in coming months.
Gold broke through $3700 per ounce for the first time, driven by the dollar index falling to its lowest level in more than 10 weeks. While markets have already priced in this week's rate cut expectations, the Fed will also release quarterly economic and interest rate forecast updates (the dot plot), and Chairman Jerome Powell will hold a press conference after the decision.
A series of weak labor market data and lack of major inflation surprises have strengthened expectations for further rate cuts this year. This is positive for gold, which generates no interest income.
President Trump's continued pressure on the Federal Reserve, including attempts to remove Board member Lisa Cook, has also reinforced market bets on more dovish monetary policy. Additionally, government economic adviser Stephen Milan could join the Fed as early as Tuesday.