Trump on TPP; Bank earnings; Volkswagen shakeup

1. TPP rethink: President Donald Trump has asked his advisers to investigate whether the United Stat...

Posted: Apr 13, 2018 11:29 AM
Updated: Apr 13, 2018 11:29 AM

1. TPP rethink: President Donald Trump has asked his advisers to investigate whether the United States should rejoin the Trans-Pacific Partnership, the giant trade deal spanning 11 countries that he ditched just days after taking office.

In a meeting Thursday, Trump asked his team to investigate "whether or not a better deal could be negotiated," the White House said.

Rejoining would be tricky -- experts say Trump's negotiating position is weaker now that the other 11 countries have moved on without the United States.

2. Big banks report: It's a big day for bank earnings.

JP Morgan, Wells Fargo, Citigroup and PNC are all slated to release their latest results before the bell.

Financial shares have rallied in anticipation of a strong earnings season, with Citigroup, Bank of America and Goldman Sachs closing nearly 3% higher on Thursday.

Investors will be looking for clues from the big banks about what they expect for the rest of 2018. More banks are scheduled to report next week.

3. Volkswagen shakeup: Shares in Volkswagen opened 1.3% higher after the company announced that CEO Matthias Mueller would be replaced by Herbert Diess.

The automaker is expected to say more about surprise management change at a press conference.

Volkswagen is the biggest auto manufacturer in the world by sales, delivering a record 10.7 million cars in 2017.

4. Global market overview: US stock futures were flat.

European markets opened mixed. UK stocks were lower, while markets in Germany and France advanced.

China markets posted losses, while stocks in Japan and Korea gained.

The Dow Jones industrial average closed 1.2% higher on Thursday. The S&P 500 gained 0.8% and the Nasdaq jumped 1%.

Oil futures jumped almost 1% after the International Energy Agency said a global oil glut is close to disappearing. OPEC and its allies had been working to reduce the surplus.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

5. Companies and economics: The US Department of Labor will release survey data on the jobs market at 10:00 a.m. ET on Friday.

A preliminary reading of the University of Michigan's index of consumer sentiment for April will be released at the same time.

China released its latest foreign trade data on Friday, revealing a small dip in exports. Economists said the decline is likely to be temporary.

London Stock Exchange Group appointed former Goldman Sachs banker David Schwimmer as its new chief executive officer.

The announcement marked the end of months-long boardroom battle that saw several high profile departures.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

6. Coming this week:
Friday -
Citi, JPMorgan, PNC, Wells Fargo earnings

Terre Haute
Clear
75° wxIcon
Hi: 93° Lo: 66°
Feels Like: 75°
Robinson
Scattered Clouds
71° wxIcon
Hi: 90° Lo: 65°
Feels Like: 71°
Indianapolis
Scattered Clouds
72° wxIcon
Hi: 90° Lo: 68°
Feels Like: 72°
Rockville
Clear
70° wxIcon
Hi: 91° Lo: 66°
Feels Like: 70°
Casey
Clear
74° wxIcon
Hi: 90° Lo: 67°
Feels Like: 74°
Brazil
Clear
75° wxIcon
Hi: 91° Lo: 66°
Feels Like: 75°
Marshall
Clear
75° wxIcon
Hi: 91° Lo: 66°
Feels Like: 75°
July Heat Continues
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 144013

Reported Deaths: 6951
CountyConfirmedDeaths
Cook909114581
Lake9752418
DuPage9083472
Kane7733271
Will6744320
Winnebago304695
McHenry206197
St. Clair1906136
Kankakee128565
Kendall96320
Madison94769
Rock Island94729
Champaign88012
Boone59521
DeKalb55818
Peoria49928
Sangamon43132
Jackson33219
Randolph2877
Stephenson2745
McLean26113
Ogle2614
Clinton23717
Macon23122
LaSalle21917
Union19119
Whiteside19115
Coles17017
Grundy1674
Iroquois1575
Warren1380
Tazewell1378
Knox1320
Cass1302
Morgan1283
Monroe12713
Williamson1204
Jefferson10717
McDonough10115
Lee972
Adams931
Henry881
Pulaski760
Marion660
Vermilion662
Perry541
Douglas520
Macoupin523
Unassigned500
Jasper467
Livingston452
Jo Daviess441
Montgomery441
Christian434
Jersey351
Ford331
Woodford332
Bureau292
Menard250
Fayette233
Alexander220
Franklin220
Mason220
Wabash220
Carroll212
Johnson200
Mercer200
Piatt200
Washington200
Hancock191
Crawford180
Moultrie180
Shelby181
Fulton150
Logan150
Clark140
Wayne141
Bond131
Massac130
Schuyler130
Cumberland120
Effingham121
Brown100
Edgar100
Greene90
Saline90
Henderson80
Marshall80
Lawrence70
De Witt60
Hamilton50
White50
Richland40
Stark30
Clay20
Edwards20
Gallatin20
Pike20
Calhoun10
Hardin10
Out of IL10
Pope10
Putnam10
Scott00

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 45952

Reported Deaths: 2650
CountyConfirmedDeaths
Marion11387679
Lake4872240
Elkhart308543
Allen2677114
St. Joseph184965
Cass16369
Hamilton1484100
Hendricks136699
Johnson1235118
Porter68537
Madison64363
Tippecanoe6408
Clark62244
Bartholomew57844
Howard54356
LaPorte53925
Kosciusko4952
LaGrange4596
Jackson4553
Noble44728
Vanderburgh4306
Hancock42935
Delaware42648
Boone42242
Shelby41625
Marshall4123
Floyd36344
Morgan32031
Montgomery28720
Grant28526
Clinton2792
Dubois2606
White25810
Monroe25628
Decatur24632
Henry23515
Lawrence23124
Vigo2248
Harrison20822
Dearborn20422
Warrick20129
Greene18431
Miami1802
Jennings16911
Putnam1658
DeKalb1594
Scott1547
Daviess13916
Orange13323
Wayne1286
Franklin1248
Steuben1232
Perry1209
Ripley1127
Carroll1092
Jasper1092
Wabash1072
Fayette967
Newton9510
Whitley814
Randolph764
Starke733
Huntington702
Wells681
Jay670
Fulton661
Jefferson651
Washington641
Pulaski631
Knox620
Clay594
Rush573
Benton480
Adams451
Owen451
Gibson442
Sullivan441
Brown381
Blackford372
Posey350
Spencer311
Tipton301
Crawford290
Fountain292
Switzerland250
Martin220
Parke220
Ohio140
Warren141
Union130
Vermillion130
Pike80
Unassigned0194