Trump announces trade deal with Japan, with tariffs at 15%. Trump said that Japan will “open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.” Stocks in Japan rose sharply on the news.

The Richmond Fed Manufacturing Index remained in negative territory in July, the bank reports. All three of its component indexes fell: shipments, new orders and employment.

Microsoft says Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers. The data of the businesses using it are vulnerable by “enabling the theft of the key material by threat actors”.

Trump backs off threat to fire Fed Chairman Powell. A possible reason: government officials and other voices have warned about such a move’s impacts to the markets.

US 10-year Treasury yield falls for fifth straight trading session, settling at 4.35%.