NLR is trading at $111.50 (+3.15%) in pre-market action, rebounding from a 3% tariff-driven selloff on July 24 as global risk sentiment improves.
- The move aligns with a broader risk-on tone as equity futures rise following positive durable goods data and a pause in hostilities with Iran.
- A sharp drop in oil prices and easing inflation fears are providing a tailwind for cyclicals, utilities, and globally exposed industrials.