Trump and Macron's confusing relationship, explained

CNNMoney's Richard Quest explains the bond between President Trump and French President Emmanuel Macron, despite their glaring policy differences.

Posted: Feb 2, 2018 1:32 PM
Updated: Feb 2, 2018 1:32 PM

Quest's Profitable Moment

The relationship between French President Emmanuel Macron and U.S. President Donald Trump simply defies explanation.

For decades, the European leader holding the ear of the U.S. president has traditionally been Britain's prime minister.

Think of Kennedy and Macmillan. Reagan and Thatcher. Even Bill Clinton and Tony Blair. Trump and May? Not so much. It's Emmanuel Macron who seems ready to keep the transatlantic relationship alive.

Macron has succeeded where all others have failed, managing to criticize U.S. policies without becoming the latest Twitter target. In Trump's eyes, Emmanuel seems to do no wrong.

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Trump will finally hold his first state dinner this year, and the honored guest has already been chosen. Emmanuel Macron -- youthful, energetic, with a desire to bring about serious economic change.

Maybe it's the drive for reform that unites the two presidents. Though their strategies to bring about change are starkly different.

Macron's declaration to business leaders and world trading partners that "France is back" is at odds with Trump's policies, perceived as protectionist and divisive.

So how has this relationship come about?

Ronald Reagan and Margaret Thatcher were called "political soulmates," ideologically in step from Day One. Emmanuel Macron and Donald Trump appear to be more "political odd couple" than anything else.

Yes, yes, I know what you're thinking, "Opposites attract, Richard." (So they tell me.)

Well, if we want to draw comparisons between love and politics, in this particular case, I think there's an old adage a bit more apropos: "Politics makes strange bedfellows."

Stock market enters rollercoaster mode

The quiet on Wall Street has been broken, sending investors on a rollercoaster ride. The Dow suffered its worst two-day drop of the Trump era earlier this week. The sell-off, occurring right before the State of the Union, came at a bad time for a president who likes to brag about the market boom. While stocks have bounced back, the rebound has been bumpy. Some think market euphoria is overdone, especially given the turmoil in the bond market. Treasury yields have crept up to levels unseen since 2014. Former Fed chief Alan Greenspan even warned that the market is in a "bubble." So is this the long-awaited pullback, the start of a more serious downturn or just a blip? Stay tuned.

-- Matt Egan

Can Trump fix 'injustice' of health care prices?

It's been a tough week for health care stocks. Big Pharma companies tumbled after President Trump renewed his campaign promise to lower drug prices. And big insurers and pharmacy chains got whacked after JPMorgan Chase, Amazon and Warren Buffett's Berkshire Hathaway announced a plan to offer health insurance to their employees. Investors probably have good reason to be nervous. Amazon has a history of disrupting retail. It did so to the book business and is shaking up supermarkets with its Whole Foods deal. Could lower drug prices and insurance premiums be next?

-- Paul R. La Monica

NAFTA talks make progress, but major divide remains

The United States, Canada and Mexico are making progress on renegotiating their trade pact. Very. Slowly. Negotiators concluded the sixth round of NAFTA talks Monday with a mix of optimism and criticism. Canada offered what amounts to a counterproposal on a divisive issue (auto manufacturing) but the United States found it unacceptable. Still, all three sides agreed to continue talking for at least two more rounds. Experts say that is undoubtedly better than President Trump pulling the United States out of NAFTA.

-- Patrick Gillespie

Fuji takes over Xerox

It's the end of an era. Japan's Fujifilm is taking control of Xerox and shedding 10,000 jobs at their existing joint venture in Asia. Xerox was a tech pioneer. In 1959, it debuted the first photocopier, a product that would become ubiquitous in offices around the world. But Xerox was swallowed up in the digital era by a different technology it helped develop at its Palo Alto research lab: personal computers. In 1979, Steve Jobs toured the facility. Xerox had been an early investor in Apple before it went public in 1980. But Xerox was too big and focused on copiers to make the shift to computers. It missed out on the pot of gold it discovered.

-- Nathaniel Meyersohn

Quick takes

Alan Greenspan thinks the stock and bond markets are "bubbles."

Mysteriously low inflation may not be a problem for the incoming Fed chair.

McDonald's cheaper menu items are a big hit.

It's a caffeine lover's dream: Dr Pepper Snapple is merging with Keurig.

What's next

Jobs report: On Friday, the Labor Department will report the number of jobs the U.S. economy added in January. Economists forecast 175,000 new jobs and expect the unemployment rate to remain at 4.1%.

Energy earnings: ExxonMobil, Chevron, Valero and Phillips 66 report earnings on Friday. Exxon announced earlier this week that it will invest $50 billion of the money it expects to save from U.S. tax cuts.

Powell takes over the Fed: Jerome Powell is about to take the helm of the world's most influential central bank. Powell will begin his four-year term as Federal Reserve chairman on Saturday, the Fed announced. He will replace Janet Yellen.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 947918

Reported Deaths: 15377
CountyCasesDeaths
Marion1291181990
Lake635721103
Allen53899761
Hamilton44082449
St. Joseph42122590
Elkhart33803491
Vanderburgh30574449
Tippecanoe26915251
Johnson23727418
Hendricks22410342
Porter21832347
Clark17562231
Madison17492385
Vigo16302285
Monroe14545191
LaPorte14389239
Delaware14183222
Howard13971273
Kosciusko11498135
Hancock10935166
Warrick10737178
Bartholomew10635170
Floyd10514208
Wayne10077226
Grant9213204
Morgan8928160
Boone8463111
Dubois7791123
Dearborn769490
Henry7691133
Noble7466101
Marshall7409128
Cass7219118
Lawrence7026153
Shelby6647111
Jackson661386
Gibson6190107
Harrison609386
Huntington604495
Montgomery5853105
DeKalb581091
Knox5535104
Miami548888
Putnam543268
Clinton537465
Whitley529354
Steuben501768
Wabash488692
Jasper483861
Jefferson474492
Ripley457777
Adams446068
Daviess4231108
Scott409165
Clay394957
White393858
Greene393392
Wells389884
Decatur388797
Fayette378578
Posey362341
Jennings356056
Washington334747
LaGrange325175
Spencer321136
Fountain318455
Randolph317190
Sullivan309449
Owen287064
Starke282864
Fulton280454
Orange277859
Jay257038
Perry254152
Carroll245229
Franklin242838
Rush237030
Vermillion235050
Parke221420
Tipton212055
Pike211740
Blackford170534
Pulaski168551
Crawford147318
Newton145845
Benton143916
Brown135846
Martin130217
Switzerland126910
Warren115616
Union98511
Ohio80511
Unassigned0482

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1390015

Reported Deaths: 21820
CountyCasesDeaths
Franklin1541781574
Cuyahoga1361632341
Hamilton989691326
Montgomery681371161
Summit569981051
Lucas51769869
Butler48139663
Stark42350983
Lorain32165539
Warren30497338
Mahoning27564643
Clermont26081297
Lake24873422
Delaware22600147
Licking20818246
Fairfield20789223
Greene20667275
Trumbull20378516
Medina20178290
Clark18235332
Richland16749236
Portage16442231
Wood15973209
Allen14405261
Miami14063261
Muskingum12976155
Wayne12234244
Columbiana12046242
Tuscarawas11248271
Marion10935150
Pickaway10642129
Scioto10585127
Erie9888171
Ross9648177
Lawrence8967125
Hancock8637143
Ashtabula8509187
Geauga8272156
Belmont8262188
Jefferson7736175
Huron7566131
Union743951
Washington7396126
Athens712065
Sandusky6984135
Darke6884137
Knox6839122
Seneca6533137
Ashland6078115
Auglaize596888
Shelby5845104
Brown578272
Mercer565890
Crawford5591117
Defiance5579101
Madison552171
Highland550982
Fulton543583
Clinton535781
Logan520587
Preble5123111
Putnam4909107
Guernsey487664
Williams469982
Perry464454
Champaign454964
Ottawa443584
Jackson436663
Pike400745
Morrow398251
Coshocton393669
Fayette385053
Adams371575
Hardin367570
Gallia356658
Holmes3326111
Henry331869
Van Wert321471
Hocking312370
Wyandot286058
Carroll267052
Paulding247443
Meigs223042
Monroe193149
Noble174442
Morgan170329
Harrison161741
Vinton141919
Unassigned05
Fort Wayne
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Angola
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Huntington
Clear
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Hi: 87° Lo: 61°
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Decatur
Partly Cloudy
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Van Wert
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A weak cold front brings slightly cooler air to the region Tuesday.
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