News

The major European stock indices are closing mostly higher. The France’s CAC is the only decliner on the day.

A snapshot of of the closing levels shows:

• German DAX rose 74.04 points or 0.31% at 24007.28. For the trading week, the index reached a new record high of 24225.97. The index is up 1.6% this week
• France’s CAC felt -27.82 points are -0.36% at 7751.90. For the trading week, the index rose 0.23%.
• UK’s FTSE 100 rose 55.91 points or 0.64% at 8772.37. For the trading week, the index rose 0.62%.
• Spans Ibex rose 35.58 points or 0.25% at 14152.19. For the trading week, the index closed marginally higher by 0.34%.
• Italy’s FTSE 100 rose 104.41 points or 0.26% at 40087.39. For the trading week, the index rose 1.55%.

For the month:

• German DAX, +6.71% and represents its best months since January when the index rose 9.16%
• France’s CAC rose 2.08%
• UK’s FTSE 100 rose 3.27%.
• Spains Ibex rose 6.51%. The price high this month reached a new high going back to 2007
• Italy’s FTSE MIB 100 rose 6.60%. They price high this month reached its highest level since 2007

This article was written by Greg Michalowski at www.forexlive.com.

White House Chief of Staff Miller has been sent out to speak about China:

• China must show its commitment to a rules-based international order.
• Trump’s hope is that China will choose the path of cooperation and common ground.

This article was written by Greg Michalowski at www.forexlive.com.

Japan governments economy minister Akazawa met with US treasury secretary Bessent and Commerce Secretary Lutnick for 130 minutes:

• They agreed to accelerate trade talks, hold discussions again before G7 summit
• US and Japan have deepened understanding of each other’s positions, made progress towards a trade deal.

This article was written by Greg Michalowski at www.forexlive.com.

China’s US Embassy spokesperson:

• Both China and US have maintained communication over their respective concerns in the economic and trade fields on various bilateral and multilateral occasions at multiple levels.
• China has repeatedly raised concerns regarding US abuse of export control measures and semiconductor sector and other related practices.
• China urges US to cease discriminatory restrictions and jointly uphold the consensus reached at the high level talks in Geneva.

The comments are in reaction to/in response to the post from Pres. Trump this morning:

I am not sure there will ever be a solution. The US will not trust China. China will not give up all it does or its sovereignty. It might be that if Apple can’t produce in the US competitively, consumers go to Mexico or Canada to buy iPhones or gets them off smuggling boats off the coast of Florida. Drug runners will become iPhone runners. China will smuggle chips into its country.

This article was written by Greg Michalowski at www.forexlive.com.