All three major U.S. indexes ended higher last week, notching three record closing highs despite an abbreviated trading week.

Futures on Wall Street are trading with losses at the culmination of the long Independence Day weekend ahead of US President Donald Trump's looming reciprocal tariff deadline. The Dow futures are currently trading 170 points lower,

The Gift Nifty futures were trading at 25,512 as of 8:08 am., suggesting that the Nifty 50 may open around its previous close of 25,461. Sensex and Nifty declined by 0.7% each last week.