Will Trump-Juncker Meeting Cool Down Trade Conflict?
US stock futures are pointing to a slightly higher open today, as investors take in more earnings reports and get ready for a key trade-related meeting between Donald Trump and Jean-Claude Juncker. Another 52 companies are preparing to report on the second quarter today, including Facebook.
The President of the European Commission, Jean-Claude Juncker meets with President Donald Trump in Washington, to discuss improving transatlantic trade relations among other subjects. In June, the Donald Trump threatened tariffs on imported cars from the European Union. Last week, Cecilia Malmstrom (the EU’s Trade Commissioner) said that if the US imposed these levies, it would be “very unfortunate,” and added that the bloc had prepared its own list of countermeasures.
German business sentiment weakened again in July, though insignificantly, as companies reduced their expectations in the face of growing trade tensions between the US and the EU. The Ifo business climate index fell to 101.7 from 101.8 in June. This is the lowest since March 2017, when the index was 101.4. Economists predicted a stronger decline to 101.5.