(The opinions expressed here are those of the author, a

columnist for Reuters.)

By Anna Szymanski

What matters in U.S. and global markets today

By Anna Szymanski

While investors last week welcomed the Federal Reserve's first

rate cut of 2025 and signals of further easing, sentiment is

more cautious today, with U.S. stock futures easing slightly

before the bell. President Donald Trump said on Friday that U.S.

companies would need to pay $100,000 for new H-1B worker visas,

a potential blow for the dominant U.S. tech sector. Investors

will hear from a host of Fed officials this week as everyone

awaits the release of the Fed's favored inflation gauge on

Friday.

* Asian equities were mixed on Monday. While Japan's Nikkei

jumped

over 1%, and Taiwan hit a record high, Indian shares slipped

following the Trump Administration's announcement of the new

H-1B visa fee on Friday. This move could hurt both U.S. tech

companies, which rely heavily on overseas talent, and India,

which represented over 70% of approved H-1B visas last year.

* Over in FX markets, things were relatively subdued. The

yen,

which got a bounce last week from the Bank of Japan's hawkish

shift, on Monday gave back some of its gains. Sterling fell to a

two-week low, following news of a surge in UK

public borrowing and the Bank of England's policy decision last

week that highlighted the challenges of balancing inflation and

growth concerns.

* Meanwhile, the dollar is down slightly early on Monday.

Markets

remain focused on the trajectory for U.S. monetary policy,

pricing in 44 basis points of additional easing this year.

Several policymakers are expected to speak this week, including

New York Fed President John Williams and newly appointed

Governor Stephen Miran later today. The Fed's preferred gauge of

inflation, the Personal Consumption Expenditures Index, is due

on Friday. Investors will be keen to get a better sense of the

policy path ahead after Chair Jay Powell's speech last week

sent mixed signals.

Mike's off this week, but check out his column today explaining

why the ECB could have a "contingency cut" in its pocket and

what that means for dollar bets.

Market Minute

* India's $283 billion information technology sector will have

to overhaul its decades-old strategy of rotating skilled talent

into U.S. projects following U.S. President Donald

Trump's move to impose a $100,000 fee for new H-1B visas from

Sunday, according to tech veterans, analysts, lawyers and

economists.

* South Korea's economy could fall into crisis rivalling its

1997 meltdown if the government accepts current U.S. demands

in stalled trade talks without safeguards, President Lee Jae

Myung told Reuters.

* U.S. tariffs imposed in August risk slashing up to one-fifth

of Vietnam's exports to the United States, making it the

worst-hit country in Southeast Asia, according to estimates by

the United Nations Development Programme.

* The breathtaking expansion of U.S. gas exports in the last

decade has reshaped global markets, but, writes ROI energy

columnist Ron Bousso, a looming global oversupply along with

rising power prices domestically could leave the industry

exposed on both sides of its value chain.

* China's onshore equity markets are booming, outperforming

many of their developed market counterparts this year, writes

Emmer Capital Partners Founder Manishi Raychaudhuri in his

latest piece for ROI. But he argues that whether this is the

beginning of a true Chinese equity boom

will likely depend on government stimulus and corporate

discipline.

Chart of the day

After the Trump administration said on Friday that it would ask

companies to pay $100,000 per year for H-1B working visas, some

big tech companies and banks, including Microsoft, Amazon,

Alphabet and Goldman Sachs, warned employees to stay in the U.S.

or quickly return. However, the White House on Saturday

clarified that this is a one time, not an annual fee,

and that it will not be applied to existing visa holders

re-entering the country.

Today's events to watch

* Chicago Fed National Activity Index for August

* NY Fed President John Williams speaks (9:45 AM ET)

* St. Louis Fed President Alberto Musalem speaks (10:00 AM

ET)

* Cleveland Fed President Beth Hammack and Fed Governor

Stephen

Miran speak (12:00 PM ET)

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Opinions expressed are those of the author. They do not reflect

the views of Reuters News, which, under the Trust Principles, is

committed to integrity, independence, and freedom from bias.

(By Anna Szymanski; Editing by Peter Graff.)