China's STAR 50 index recovered from intraday lows to turn positive after earlier falling more than 2%.

1. Signs Executive Orders to Accelerate Quantum Computing Deployment – Trump signed two executive orders aimed at accelerating the development of advanced quantum computers and mitigating the security threats they pose. 2. Claims Iran Will Agree to Weapons Inspections – Trump tweeted that all parties are fully aware that Iran will agree to large-scale weapons inspections to ensure its long-term “nuclear integrity.” 3. Threatens to Sue ABC Over Reflecting Pool Coverage Controversy – Trump claimed that ABC News failed to report on the fact that his “close friends,” Democrats Obama and Biden, spent over $100 million on the Reflecting Pool, but the facility never truly functioned properly, in describing the vandalism at the Reflecting Pool in Washington, D.C. He is preparing to file a lawsuit against ABC, accusing it of false reporting. 4. Reiterates Call for Federal Troop Deployment Following Chicago Weekend Shooting – Trump tweeted that the Chicago weekend shooting left at least 39 people injured and 4 dead. “As president, I can resolve this quickly and permanently,” he stated, reiterating his call for the deployment of troops to Chicago. 5. Trump to Meet with Defense Contractors on Wednesday —Sources familiar with the matter said Trump is expected to meet with executives from some of the largest U.S. defense contractors on Wednesday. The Trump administration has been increasing pressure on defense contractors to prioritize production and U.S.-made capabilities over shareholder dividends. 6. Cut Oil Drilling Margins by 95%—The Trump administration on Monday cut margins that oil and gas companies must pay when drilling on federal lands by 95% to encourage more energy exploration. 7. Threatens Necessary Action if Iran Does Not Comply with Agreement —Trump told reporters at the White House that negotiations between the U.S. and Iran are moving toward a “fair and reasonable agreement.” He said he would take necessary action if Iran does not comply with the agreement with the United States.

Federal Reserve's Goolsby: We have not yet experienced a stagflation shock, and the labor market has remained stable.