Luke Vargas

And Shani, this is a potential sort of divergence in perspectives that was actually made clear on Liberation Day. And we just didn't get around to talking about it then.

And Shani, this is a potential sort of divergence in perspectives that was actually made clear on Liberation Day. And we just didn't get around to talking about it then.

Deputy Middle East Bureau Chief Shandy Race and Foreign Correspondent Stephen Kalin. Shandy, Stephen, thank you both so much.

Deputy Middle East Bureau Chief Shandy Race and Foreign Correspondent Stephen Kalin. Shandy, Stephen, thank you both so much.

Thanks for having me. A day on from the U.S. and China's tariff rollback, markets have all but recuperated their losses since President Trump's Liberation Day announcements set off a global trade war. And at the same time, the reset has lowered the risk of recession, according to economists. Journal finance editor Alex Frankos says markets are now watching for the next batch of economic data.

Thanks for having me. A day on from the U.S. and China's tariff rollback, markets have all but recuperated their losses since President Trump's Liberation Day announcements set off a global trade war. And at the same time, the reset has lowered the risk of recession, according to economists. Journal finance editor Alex Frankos says markets are now watching for the next batch of economic data.

And Alex says while businesses relying on Chinese imports are set to resume shipments, they still face higher prices and lower profits.

And Alex says while businesses relying on Chinese imports are set to resume shipments, they still face higher prices and lower profits.

The latest CPI report from the Labor Department is due at 8.30 a.m. Eastern and will be followed by a report on wholesale inflation on Thursday. Meanwhile, there's a raft of Japanese earnings out today, led by tech investment firm SoftBank, which reported its first annual profit in four years following investments into AI.

The latest CPI report from the Labor Department is due at 8.30 a.m. Eastern and will be followed by a report on wholesale inflation on Thursday. Meanwhile, there's a raft of Japanese earnings out today, led by tech investment firm SoftBank, which reported its first annual profit in four years following investments into AI.

Meanwhile, automaker Honda Motor has projected a 70 percent drop in profits, as it expects to be hit by higher U.S. levies on foreign-made cars. Car exports make up about a third of Japan's shipments to the U.S., with auto tariffs expected to weigh heavily on the Japanese economy.

Meanwhile, automaker Honda Motor has projected a 70 percent drop in profits, as it expects to be hit by higher U.S. levies on foreign-made cars. Car exports make up about a third of Japan's shipments to the U.S., with auto tariffs expected to weigh heavily on the Japanese economy.

And Amazon is renewing a partnership with FedEx to help deliver some large packages after a previous high-profile split in 2019. FedEx will join other third-party partners, including UPS and the U.S. Postal Service. Terms of the deal weren't disclosed, though FedEx described the partnership as a mutually beneficial multi-year agreement.

And Amazon is renewing a partnership with FedEx to help deliver some large packages after a previous high-profile split in 2019. FedEx will join other third-party partners, including UPS and the U.S. Postal Service. Terms of the deal weren't disclosed, though FedEx described the partnership as a mutually beneficial multi-year agreement.

Coming up, we'll look at a bellwether week for high-end art sales in New York, and United Airlines tries to calm the nerves of travelers after a string of air traffic control issues at Newark. We've got those stories and more after the break.

Coming up, we'll look at a bellwether week for high-end art sales in New York, and United Airlines tries to calm the nerves of travelers after a string of air traffic control issues at Newark. We've got those stories and more after the break.

United Airlines is trying to reassure customers about the safety of flying in and out of Newark Liberty International Airport following multiple technology and air traffic control staffing issues there in recent weeks. In an email yesterday, CEO Scott Kirby said that travel through the New Jersey Transit Hub was absolutely safe.

United Airlines is trying to reassure customers about the safety of flying in and out of Newark Liberty International Airport following multiple technology and air traffic control staffing issues there in recent weeks. In an email yesterday, CEO Scott Kirby said that travel through the New Jersey Transit Hub was absolutely safe.

And in a video, Captain Miles Morgan, who oversees the airline's flight training center, touted safety measures that kick in should planes lose contact with air traffic control.

And in a video, Captain Miles Morgan, who oversees the airline's flight training center, touted safety measures that kick in should planes lose contact with air traffic control.