• Bitcoin has surged above $111,000 for the first time, driven by increasing institutional investment and expectations of potential regulatory clarity for cryptocurrencies under President Trump.

• It is being spearheaded by big Bitcoin holders like Michael Saylor’s Strategy and an increasing number of corporate buyers.

• In the meantime, international trade continues to be a complicated affair: Japanese firm Komatsu anticipates a close to 20 billion yen (about $140 million) decrease in tariff effect because of the recent US-China trade ceasefire, indicating a not-so-bad profit situation compared to what had been dreaded.

• US stock futures were unchanged as a vote approached on President Trump’s “big, beautiful” tax bill, which is facing intraparty Republican resistance due to its cost and provisions like Medicaid reforms and green energy credits.

• Last, the European Union said it is ready to provide a duty-free lobster deal with the US as part of a wider effort to remove tariffs imposed by the Trump administration, in an indication of ongoing efforts at easing trade tensions.