In this morning's edition of MPC Morning Call, thediscussion revolves around the recent stock market highs amidst political turmoil, particularly focusing on Trump's tariffs and their impact on various sectors. The conversation highlights Nvidia's remarkable market cap achievementand the cautious stance of the Federal Reserve. Additionally, insights into commodity trends and economic indicators, including Amazon's sales performance and China's economic data, are explored.

Takeaways

Stocks reached record highsdespite political noise.

Trump's tariffs targeted severalBRICS and Asian nations.

Nvidia's market cap reached $4trillion, a first.

Admitting wrong predictions can bebeneficial.

Amazon's Prime Day sales showed asignificant decline.

The Federal Reserve is taking acautious approach.

Commodity prices, especiallycopper, are on the rise.

Rio Tinto is expected to benefitfrom copper spikes.

China's economy is showingdeflationary trends.

Overall market expectations remainsubdued for the day.