US stock futures higher after trade deals with Japan, Philippines
When Tesla and Alphabet report, investors will scour their reports and comments for any signs of weakness in artificial intelligence spending or effects of tariffs to extend the rally begun by trade deals announced by President Donald Trump.
The U.S. and Japan agreed to a trade deal that included Japan's investing $550 billion in the U.S. and a 15% tariff on Japanese goods entering the U.S. That includes auto tariffs, which will be lowered to 15% from the current 25%, according to reports.
Additionally, Trump said the U.S. struck a trade deal with the Philippines that includes a 19% tariff on goods imported from the southeast Asian country and no tariffs on U.S. goods entering the Phillippines. The two countries will also work togther militarily, he said.
Final talks with Indonesia on its trade deal are also underway, the White House said. The framework includes will no tariffs on U.S. goods, while Indonesian goods entering the U.S. will be taxed at 19%.
At 6 a.m. ET, futures tied to the blue-chip Dow rose 0.50%, while broad S&P 500 futures gained 0.39% and tech-heavy Nasdaq futures added 0.18%.
Before the market opens, toy maker Hasbro, AT&T, Boston Scientific and Hilton are among the companies expected to report earnings.
Corporate news
Texas Instruments' second-quarter results topped Wall Street estimates, but the lower range of its current quarter guidance missed.
CoStar Group reported better-than-expected results for the second quarter.
Cal-Maine Foods results in the company's last three months of its fiscal year beat analysts' expectations, helped by egg prices.
Enphase Energy's second-quarter earnings topped anlaysts' expectations, but current-quarter revenue forecast was mostly below forecasts.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
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Powys County Times
a few seconds ago
- Powys County Times
US-EU deal sets 15% tariff on most goods and averts threat of trade war
The United States and the European Union have agreed to a trade deal setting a 15% tariff on most goods, US President Donald Trump announced, staving off higher import taxes on both sides that might have sent shockwaves through economies around the world. The announcement came after Mr Trump and European Commission chief Ursula von der Leyen met briefly at Mr Trump's Turnberry golf course in Scotland. Their private meeting was a culmination of months of bargaining, with the White House deadline of August 1 approaching for imposing punishing tariffs on the 27-member EU. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Mr Trump said. The agreement, he said, was 'a good deal for everybody' and 'a giant deal with lots of countries'. Ms von der Leyen said the deal 'will bring stability, it will bring predictability that's very important for our businesses on both sides of the Atlantic'. Mr Trump said the EU had agreed to buy some 750 billion dollars' (£558 billion) worth of US energy and to invest 600 billion dollars (£446 billion) more in America, as well as making a major purchase of military equipment. The US leader said: 'We are agreeing that the tariff straight across for automobiles and everything else will be a straight across tariff of 15%. 'We have a tariff of 15%. We have the opening up of all of the European countries.' Ms von der Leyen said the 15% tariffs were 'across the board, all inclusive' and that 'indeed, basically the European market is open'. Before the meeting began, Mr Trump pledged to change what he characterised as 'a very one-sided transaction, very unfair to the United States'. 'I think both sides want to see fairness,' the Republican President told reporters. His EU Commission counterpart spoke of rebalancing. Ms von der Leyen said the US and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. She added that Mr Trump was 'known as a tough negotiator and dealmaker'. 'But fair,' Mr Trump added. Together, the EU and the US are a market of 800 million people. And nearly 44 percent of global GDP. It's the biggest trade deal ever ↓ — Ursula von der Leyen (@vonderleyen) July 27, 2025 For months, Mr Trump has threatened most of the world with large tariffs in hopes of shrinking major US trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled tariff rate of 30%. During his comments before the deal was announced, he pointed to a recent US agreement with Japan that set tariff rates for many goods at 15% and suggested the EU could agree to something similar. Asked then if he would be willing to accept tariff rates lower than that, Mr Trump said 'no'. Joining Ms von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Bjorn Seibert, the head of von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of trade and agriculture at the EU's delegation to the US. The US and EU seemed close to a deal earlier this month, but Mr Trump instead threatened the 30% tariff rate. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but is now firm, the administration insists. 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go,' US commerce secretary Howard Lutnick told Fox News on Sunday. He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen'. Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and car parts to beer and Boeing planes. If Mr Trump eventually followed through on his threat of tariffs against Europe, it could have made everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the United States.
North Wales Chronicle
a few seconds ago
- North Wales Chronicle
US-EU deal sets 15% tariff on most goods and averts threat of trade war
The announcement came after Mr Trump and European Commission chief Ursula von der Leyen met briefly at Mr Trump's Turnberry golf course in Scotland. Their private meeting was a culmination of months of bargaining, with the White House deadline of August 1 approaching for imposing punishing tariffs on the 27-member EU. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Mr Trump said. The agreement, he said, was 'a good deal for everybody' and 'a giant deal with lots of countries'. Ms von der Leyen said the deal 'will bring stability, it will bring predictability that's very important for our businesses on both sides of the Atlantic'. Mr Trump said the EU had agreed to buy some 750 billion dollars' (£558 billion) worth of US energy and to invest 600 billion dollars (£446 billion) more in America, as well as making a major purchase of military equipment. The US leader said: 'We are agreeing that the tariff straight across for automobiles and everything else will be a straight across tariff of 15%. 'We have a tariff of 15%. We have the opening up of all of the European countries.' Ms von der Leyen said the 15% tariffs were 'across the board, all inclusive' and that 'indeed, basically the European market is open'. Before the meeting began, Mr Trump pledged to change what he characterised as 'a very one-sided transaction, very unfair to the United States'. 'I think both sides want to see fairness,' the Republican President told reporters. His EU Commission counterpart spoke of rebalancing. Ms von der Leyen said the US and EU combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. She added that Mr Trump was 'known as a tough negotiator and dealmaker'. 'But fair,' Mr Trump added. Together, the EU and the US are a market of 800 million people. And nearly 44 percent of global GDP. It's the biggest trade deal ever ↓ — Ursula von der Leyen (@vonderleyen) July 27, 2025 For months, Mr Trump has threatened most of the world with large tariffs in hopes of shrinking major US trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled tariff rate of 30%. During his comments before the deal was announced, he pointed to a recent US agreement with Japan that set tariff rates for many goods at 15% and suggested the EU could agree to something similar. Asked then if he would be willing to accept tariff rates lower than that, Mr Trump said 'no'. Joining Ms von der Leyen were Maros Sefcovic, the EU's chief trade negotiator; Bjorn Seibert, the head of von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of trade and agriculture at the EU's delegation to the US. The US and EU seemed close to a deal earlier this month, but Mr Trump instead threatened the 30% tariff rate. The deadline for the Trump administration to begin imposing tariffs has shifted in recent weeks but is now firm, the administration insists. 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go,' US commerce secretary Howard Lutnick told Fox News on Sunday. He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen'. Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and car parts to beer and Boeing planes. If Mr Trump eventually followed through on his threat of tariffs against Europe, it could have made everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the United States.
Rhyl Journal
a few seconds ago
- Rhyl Journal
Irish premier welcomes trade deal between EU and US
The deal was reached during a meeting between Donald Trump and the president of the European Commission on Sunday. The US president met European Commission president Ursula von der Leyen to hammer out the final details on the trading relationship between Europe and the US. Reacting to the deal, Taoiseach Micheal Martin said the agreement was very welcome. I welcome the outcome of trade talks today between the European Commission and the US. — Micheál Martin (@MichealMartinTD) July 27, 2025 'It brings clarity and predictability to the trading relationship between the EU and the US – the biggest in the world,' the Fianna Fail leader said. 'That is good for businesses, investors and consumers. It will help protect many jobs in Ireland. 'The negotiations to get us to this point have been long and complex, and I would like to thank both teams for their patient work. 'We will now study the detail of what has been agreed, including its implications for businesses exporting from Ireland to the US, and for different sectors operating here. 'The agreement is a framework and there will be more detail to be fleshed out in the weeks and months ahead.' Mr Martin said the higher tariffs will have an impact on trade between the EU and the US, which will make it more expensive and more challenging. 'However, it also creates a new era of stability that can hopefully contribute to a growing and deepening relationship between the EU and the US, which is important not just for the EU and the US, but for the global economy,' he added. 'Given the very real risk that existed for escalation and for the imposition of punitively high tariffs, this news will be welcomed by many.' The deal was also welcomed by deputy Irish premier and Minister for Foreign Affairs and Trade Simon Harris, who said it brings clarity to businesses. 'While we have yet to see the detail, I welcome that an agreement has been announced by Commission President von der Leyen and US President Trump,' Mr Harris said in a statement. 'A deal provides a measure of much-needed certainty for Irish, European and American businesses who together represent the most integrated trading relationship in the world. Ireland makes a key contribution to this with the Ireland-US economic relationship valued at more than one trillion euros. 'The US had made clear, and this has been replicated in other recent agreements, which the US has reached with other countries, that a baseline tariff was always going to be part of the outcome. 'I have always stressed that tariffs are damaging and will have a negative impact on companies exporting to the US. 'While Ireland regrets that the baseline tariff of 15% is included in the agreement, it is important that we now have more certainty on the foundations for the EU-US trade relationship, which is essential for jobs, growth and investment. 'President von der Leyen described this as 15% tariffs across the board, all-inclusive.' He said further detail is needed around pharma, aviation and other sectors. Mr Harris said he will examine the details of the agreement over the coming days to establish the effect on Irish businesses and the economy. Earlier, EU commissioner Michael McGrath said the meeting was a 'significant and decisive moment'. Mr McGrath, EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, said it would involve substantive negotiations between both sides. 'It's a significant moment, we hope a decisive moment, and it builds on an enormous amount of work that has been done over quite a period of time,' Mr McGrath said ahead of the meeting. 'President Trump invited President von der Leyen to Scotland for a meeting. 'This follows on the back of intensive negotiations over a number of months. He added: 'It is not a case of turning up and signing on the dotted line. There will be a real discussion that will happen, and it will take on a dynamic of its own, and let's see what happens over the course of the afternoon. 'But from the EU's point of view, we are determined to do all that we can to get a deal for European businesses, because we recognise the cost of uncertainty. 'It manifests in trade and in investment decisions and ultimately in employment and of course tariffs can cost consumers at the end of the day. 'We want a good deal. We have negotiated hard, and we're at a point now where hopefully the two leaders can today bring it to a concluding phase.'
