- Reuters/Stephane Mahe
Here is what you need to know.
Trump says Theresa May’s Brexit plan would “kill” a US-UK trade deal. “If they do a deal like that, we would be dealing with the European Union instead of dealing with the UK, so it will probably kill the deal,” President Donald Trump told the British tabloid The Sun.
Trump’s trade wars are starting to worry businesses. Federal Reserve Chairman Jerome Powell told Kai Ryssdal of “Marketplace” that business contacts across the US had sounded the alarm about Trump’s trade policy to the 12 Federal Reserve branches.
China’s trade surplus with the US swells. China’s trade surplus with the US swelled to $41.61 billion in June, data from China’s National Bureau of Statistics showed Friday. That’s up from the $24.92 billion surplus in May and well ahead of the $27.6 billion surplus that economists were expecting.
The Nasdaq hits a record high. The tech-heavy index closed at 7,823.92 on Thursday, making for its first record close since June 20.
Goldman Sachs explains where to put your money as trade tensions heat up. The bank has four strategies intended to keep investors on track for healthy returns.
The Justice Department is appealing the $85 billion AT&T-Time Warner merger. The Justice Department has argued that the merger would limit competition and drive up prices for consumers.
Johnson & Johnson is ordered to pay the 6th-largest product-defect award in US history. A St. Louis jury awarded $4.69 billion to the 22 women who said its talcum powder gave them ovarian cancer.
Jeff Bezos is planning to charge at least $200,000 for rides to space. Bezos’ rocket company, Blue Origin, will charge a minimum of $200,000 for its first trips into space next year, Reuters reports, citing an employee.
A trio of banks kick off earnings season. JPMorgan, Citigroup, and Wells Fargo all report ahead of the opening bell.
US economic data keeps coming. Import and export prices will be released at 8:30 a.m. ET, and University of Michigan consumer confidence will cross the wires at 10 a.m. ET. The US 10-year yield is down 1 basis point at 2.84%.