CNBC Daily Open: The silver lining of positive earnings could be too blinding

• Aug. 1 is a “hard deadline” for new tariffs.
• U.S. stock futures are little changed Sunday stateside.
• China keeps its benchmark lending rates steady.
• One company would benefit from Apple's anticipated foldable.

Friday, Aug. 1 — the “hard deadline” of U.S. President Donald Trump's updated tariffs — is less than two weeks away. Investors, however, seem mostly unbothered thus far. For last week, while the Dow Jones Industrial Average dipped marginally, the S&P 500 and Nasdaq Composite rose 0.6% and 1.5%, respectively.

Even a report that Trump wanteda minimum of 15%-20% tariffs on the European Union only dealt a minimal blow to markets, which mostly closed unchanged Friday. Although those figures are higher than the universal 10% baseline tariff Trump reportedly wanted — and which the EU is hoping to secure — they are still lower than the 30% Trump said he will impose on the bloc in his July 12 letter.

An upbeat start to earnings season has alsohelped to quell tariff fears for now. Around 83% of the S&P 500 companies that have reported earnings have exceededexpectations, according to FactSet data. In particular, big banks such as JPMorgan Chase and Goldman Sachs, which serve as barometers for economic activity, had solid beats, boosting investor sentiment.

Next in the spotlight are Big Tech earnings, which will be released in the weeks right before Aug. 1.If better than expected, they might dispel geopolitical jitters — or cause investors to dismiss trade fears too readily. In these stormy times, every silver lining has a dark cloud.

What you need to know today

Aug. 1 is a 'hard deadline' for new tariffs. U.S. Commerce Secretary Howard Lutnick said Sunday that the tariffs will take effect next month, but left open the possibility of continuing trade negotiations after the date.

U.S. stock futures are little changed Sunday stateside. On Friday, the S&P 500 and Nasdaq Composite closed around the flatline. The Dow Jones Industrial Average, however, lost 0.32%. Asia-Pacific markets traded mixed Monday.

China keeps its benchmark lending rates steady. On Monday, the People's Bank of China announced it was holding the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%. After the move, the offshore yuan remained mostly flat.

Singapore dollar exhibits safe-haven currency features. But its no yen or Swiss franc — yet

While the greenback remains the world's reserve currency of choice, the dollar index has fallen over 9% year to date. The outlook for the Japanese yen has been clouded by trade worries.

Against such a backdrop, analysts suggest there could be an alternative safe-haven currency in the making: the Singapore dollar.