European Commission President Delivers Statement Following US–EU Trade Deal Announcement
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Yahoo
2 minutes ago
- Yahoo
FTSE 100 LIVE: Markets higher as EU agrees 15% tariff in US trade deal
The FTSE 100 (^FTSE) and European stocks marched higher on Monday morning as investors cheered a trade deal struck over the weekend between the EU and US. The deal comes ahead of the 1 August deadline set by US president Donald Trump and brings more certainty about the future of commerce between the bloc and the US for investors. The pair agreed on a 15% tax on all EU goods — half of the 30% previously threatened by Trump. They also agreed to zero tariffs on certain products. Although the deal brings more certainty to trade relations, Trump could still change its terms as it is just a "high-level" agreement at this point. It also brings higher tariffs than have historically been implemented. In addition, the US set out an agreement with Japan and is set to meet with Chinese officials on Monday to hammer out new terms for import and export levies. Stocks: Create your watchlist and portfolio Sunday's deal was announced after private talks between Trump and European Commission president Ursula von der Leyen at his Turnberry golf course in South Ayrshire. London's premier index rose 0.4% after the opening bell. Martin Sorrell's WPP (WPP.L) and asset manager ICG (ICG.L) were among the top risers in the index. The DAX (^GDAXI) in Germany jumped 0.7%. The CAC 40 (^FCHI) in Paris rose more than 1.1%. The pan-European STOXX 600 (^STOXX) gained 0.8%. The euro (GBPEUR=X) fell slightly against the pound. Coming up this week: heavyweight earnings and central bank decisions Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Here's the US stock futures chart US stock futures jump on EU-US deal US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance Good morning! Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to up this week: heavyweight earnings and central bank decisions Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Here's the US stock futures chart US stock futures jump on EU-US deal US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance Good morning! Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to it. Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to it. 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Yahoo
6 minutes ago
- Yahoo
Italy's Meloni says it's a 'positive' trade deal was reached but needs to see details
ROME (Reuters) -Italy's Prime Minister Giorgia Meloni said on Sunday it is "positive" a trade deal has been reached between the European Union and the United States, adding, however, that she needs to see the details. Washington struck a framework trade deal with the EU imposing a 15% import tariff on most EU goods. "I consider it positive that there is an agreement, but if I don't see the details I am not able to judge it in the best way," Meloni told journalists on the sidelines of a meeting in Addis Ababa. Italy is one of the biggest European exporters to the U.S., with a trade surplus of more than 40 billion euros. The Italian government, led by a nationalist coalition, had urged its European partners to avoid a direct clash between the two sides of the Atlantic. In a statement, Meloni said that the agreement "ensures stability", adding that the 15% "is sustainable, especially if this percentage is not added to previous duties, as was originally planned." "We are ready to activate support measures at the national level, but we ask that they also be activated at the European level for sectors that will be particularly affected by US tariff measures," she added. The statement was also signed by the leaders of the other two coalition parties: Antonio Tajani of Forza Italia and Matteo Salvini of the League. Solve the daily Crossword
Yahoo
32 minutes ago
- Yahoo
VW's Audi cuts full-year outlook, citing tariffs and restructuring
(Reuters) -Volkswagen's premium brand Audi on Monday cut its its full-year guidance, citing the impact of higher U.S. import tariffs and restructuring expenses. The company now expects revenue between 65 billion euros ($76 billion) and 70 billion euros, down from a previous range of 67.5 billion to 72.5 billion, and an operating margin between 5 and 7%, down from a previous range of 7 to 9%. Audi said it is still assessing the implications of the recently concluded tariff agreement between Washington and the European Union. ($1 = 0.8535 euros)
