The US markets were closed on Monday in observance of Memorial Day. However, US equity futures rose over 1% following President Trump’s decision to delay imposing 50% tariffs on European Union imports until July 9. These moves temporarily eased fears of an escalating trade war, providing a positive signal for global markets. Meanwhile, investors were also looking ahead to earnings news from Nvidia (NVDA), with the AI daring scheduled to release its fiscal first-quarter results after the close of trading next Wednesday. On the US economic front, the Commerce Department released a report showing that new home sales in the US in April spiked compared to a significantly downwardly revised level in March. Asian markets fluctuated this morning, and the dollar edged down while gold changed a little. Oil was slightly lower ahead of an OPEC+ meeting that will decide on supply policy. Indian market is seen opening little changed on Tuesday, tracking muted cues from other Asian markets as fears persist over US tariffs and fiscal deficit. Benchmark indexes Sensex and Nifty climbed around 0.6% each on Monday, driven by gains in rate-sensitive auto and banking stocks as India overtook Japan to become the world’s fourth-largest economy. Reports indicate that RBI is seeking approval to allow domestic banks to lend the rupee to overseas borrowers, accelerating the internationalization of the Indian currency.