Along with SpaceX earnings, the market participants will be looking at the continued progress of its space and artificial intelligence (AI) companies. The focus would also be on the indicators about the growth of the Starlink satellite internet business.

A new wave of US layoffs is scheduled for August, with Amazon, Walmart, FedEx and more than a dozen other employers filing official WARN notices despite a labour market that remains outwardly resilient.

Donald Trump's administration faces internal divisions and mounting frustration as the Iran conflict enters its sixth month, challenging his campaign promise to end prolonged military engagements.

The Fed's decision to keep interest rates unchanged has once again brought the spotlight back on November midterms, as the prospect of higher borrowing costs loom, posing uneasiness for the tense Republican camp. The Trump administration's own policies have helped drive an increase as policies, including the tariffs regime, have had an adverse impact on several counts.