Upbeat music plays.
[Screen shows “Weekly Market Outlook with Jeffrey Kleintop”]
[Jeff holds up an illustration of the globe]
From a UK-EU Summit, a G-7 finance ministers meeting in Canada, and the latest take on business sentiment, I’m Jeff Kleintop with what may move the market this week.
On Monday, the UK-EU Summit
[Jeff holds up an illustration of a melting ice cube labelled “Brexit Thaw”]
in London is expected to focus on defense and post-Brexit cooperation after the UK struck a trade framework with the U.S., one of the goals of Brexit.
The gathering of Group of 7
[Jeff holds up an illustration of the Canadian flag]
finance ministers and central bank governors takes place from Tuesday through Thursday this week in Canada. U.S. President Trump's tariff policy will mean tensions are high. And Trump wants Canada to become the 51st state, a suggestion that has angered the G7 host. Also, watch currencies which are increasingly
[Jeff holds up an illustration of downward pointing arrow labelled with a dollar sign]
showing up in trade conversations. Taiwan's dollar has surged, South Korea and the U.S. have discussed foreign exchange, and Japan wants to talk currencies as well. The next semiannual U.S. Treasury currency manipulator report is due any day.
Now on Thursday, we get the preliminary
[Jeff holds up an illustration of a factory with two smokestacks]
May purchasing managers indexes for the Eurozone, Germany, France, UK, Japan, U.S., and India with the latest read on business sentiment after tariff negotiations have started to bear fruit. Economists are expecting modest improvement from the final April readings. Now historically, the PMI has been a pretty good indicator
[Jeff holds up an illustration of a high jump with an upward arrow labelled “Expectations”]
of earnings momentum in the quarter ahead and this week, earnings reports are expected from companies including Analog Devices, Autodesk, Baidu, and Home Depot. In Europe, it’s been the best earnings season in years with 60% of companies in the Europe STOXX 600 Index exceeding analysts’ expectations. That’s 6 percentage points more than average.
Thanks for watching.
[Jeff holds up sign saying "Thank You"]
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