US tariffs; Euro tumbles; Upbeat Rolls-Royce

1. US tariffs confirmed: President Donald Trump has given his approval for the United States to put ...

Posted: Jun 15, 2018 1:02 PM
Updated: Jun 15, 2018 1:02 PM

1. US tariffs confirmed: President Donald Trump has given his approval for the United States to put tariffs on $50 billion of Chinese exports, according to a source with knowledge of the situation.

An official announcement including a final list of impacted products is expected on Friday.

Beijing said it's ready to respond.

"If the United States takes unilateral protectionist measures and harms China's interests, we will respond immediately and take necessary measures to firmly safeguard our legitimate rights," Foreign Ministry spokesman Geng Shuang said Friday.

2. Euro slides: The euro has slumped 2.5% against the US dollar after the European Central Bank announced plans Thursday to end its -2.5 trillion ($2.9 trillion) stimulus program at the end of 2018.

The move helped push the dollar to its highest level this year against a basket of currencies.

The central bank said its plan was "subject to incoming data," and that interest rates would "remain at their present levels at least through the summer of 2019."

The end of money printing means the ECB thinks the economy no longer needs emergency support.

Meanwhile, there was worrying economic news out of Germany, where the Bundesbank cut this year's economic growth forecast to 2% from 2.5%. The central bank said that "uncertainties regarding the prospects for the German economy are considerably greater than they were."

3. Rolls-Royce upbeat: Shares in Rolls-Royce spiked 13% after the UK engineering company said it expects free cash flow to exceed -1 billion ($1.3 billion) by 2020.

The announcement comes one day after the company said it would cut 4,600 jobs in an effort to slash costs by -400 million ($535 million) by 2020.

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

European markets were mixed, while stocks in Asia were mostly lower.

The Dow Jones industrial average closed 0.1% lower on Thursday. The S&P 500 added 0.3% and the Nasdaq gained 0.9%.

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5. Earnings and economics: Canada Goose will release earnings before the open.

The Bank of Japan left monetary policy unchanged at its meeting on Friday.

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6. Coming this week:
Friday - Deadline for White House to publish tariff list

Indiana Coronavirus Cases

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Confirmed Cases: 32078

Reported Deaths: 2004
CountyConfirmedDeaths
Marion9268539
Lake3320168
Cass15826
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Johnson1086104
Elkhart105728
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Floyd31438
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Morgan26224
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Owen341
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Starke313
DeKalb311
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Knox250
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Spencer171
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Parke170
Gibson142
Ohio130
Warren121
Adams121
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Martin90
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Pike60
Unassigned0154

Illinois Coronavirus Cases

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

Confirmed Cases: 113195

Reported Deaths: 4923
CountyConfirmedDeaths
Cook738193354
Lake7767250
DuPage7290340
Kane5866153
Will5238258
Winnebago199351
McHenry145268
St. Clair101773
Kankakee80242
Kendall72719
Rock Island63922
Champaign5697
Madison54056
Boone40716
Sangamon33226
DeKalb3313
Randolph2593
Jackson22810
McLean21210
Stephenson1952
Ogle1922
Macon18819
Peoria1858
Clinton17816
Out of IL1771
Union1417
LaSalle14013
Whiteside13310
Iroquois1314
Unassigned1200
Coles1159
Warren1140
Jefferson10116
Knox950
Monroe9211
Grundy892
McDonough835
Lee761
Tazewell683
Cass670
Henry670
Williamson541
Marion500
Jasper457
Adams441
Macoupin421
Perry410
Pulaski400
Montgomery391
Vermilion391
Morgan341
Christian334
Livingston312
Douglas280
Jo Daviess270
Fayette203
Ford201
Jersey201
Washington180
Woodford182
Mason170
Menard170
Shelby161
Bureau151
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Mercer150
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Franklin120
Piatt120
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Brown100
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Wayne91
Alexander80
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Johnson70
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Marshall50
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Stark30
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