The S&P/ASX 200 rose 0.6% to 8,623 on Tuesday, rebounding from a modest decline in the prior session and reaching its highest level in over a month. Market sentiment was lifted after US President Trump expressed openness to further trade talks with the EU and other key partners ahead of the planned 30% tariffs scheduled to take effect on August 1. Despite maintaining that the letters sent to various trading partners outline the impending tariff hikes, Trump’s remarks suggest room for diplomatic engagement. At home, sentiment also received a boost from data showing the Westpac-Melbourne Institute Consumer Sentiment Index rose 0.6% month-on-month to 93.1 in July 2025, following a 0.5% uptick in June. Among individual stocks, Block, Inc. climbed 5.5%, Wisetech Global Limited gained 2.2%, and National Australia Bank added 1%. Meanwhile, Woodside Energy Group and Santos are expected to be in focus as oil prices decline after US threats of secondary sanctions on countries buying Russian oil.