What’s in Today’s Report:
- Context for U.S.-China Trade: Identifying Sectors Insulated from Trade Risks
U.S. stock futures are bouncing with EU shares this morning as the outlook on trade improved modestly overnight.
China’s retaliatory tariff deadline of June 1st and Trump’s indecision on the next round of tariffs were received as incremental positives, helping risk assets rise this morning.
The German ZEW Survey, EU Industrial Production, and the NFIB Small Business Optimism Index did not offer any surprises and are largely being shrugged off by investors so far this morning.
Trade is obviously going to continue to dominate the headlines amid the recent resurgence of volatility but there is one economic report to watch today: Import & Export Prices (E: 0.7%, 0.6%) and one Fed speaker: George (12:45 p.m. ET).