Nomura Securities: Further clarification of trade tariffs could help the market ultimately move higher

Markets could be volatile as the July 9 deadline approaches, analysts at Nomura said in a research note. The near-term outlook could depend on several key factors, including tariff rates, the effective date of such tariffs, and the countries involved in the new agreement. "While uncertainty remains high across multiple possible scenarios, we believe that further clarity on trade tariffs could actually help markets move higher eventually," the analysts said. They said the new tariff agreement could reduce uncertainty and allow investors to temporarily focus on other positive developments, such as the Fed's interest rate cut theme and the artificial intelligence narrative.