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: 667262

Reported Deaths: 12737
CountyCasesDeaths
Marion913541660
Lake48729891
Allen36175646
Hamilton32489398
St. Joseph30361514
Elkhart25536420
Vanderburgh21343382
Tippecanoe20240205
Johnson16485363
Porter16077281
Hendricks15955302
Clark12079182
Madison11810323
Vigo11699234
Monroe10440164
Delaware9899179
LaPorte9838201
Howard9127203
Kosciusko8600111
Bartholomew7531147
Hancock7471134
Warrick7456153
Floyd7269173
Wayne6661192
Grant6465158
Boone618691
Morgan6135129
Dubois5942112
Dearborn551570
Cass5489100
Marshall5456105
Henry544395
Noble513878
Jackson465967
Shelby463591
Lawrence4197113
Gibson405585
Harrison404065
Clinton397653
Montgomery391984
DeKalb388278
Miami358463
Knox357886
Whitley352438
Huntington350877
Steuben340455
Putnam334660
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White298553
Jefferson296574
Daviess286196
Fayette272756
Decatur271688
Greene262680
Posey261732
Wells259175
Scott252150
LaGrange242670
Clay241644
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Spencer219630
Jennings216944
Washington213327
Sullivan203839
Fountain202842
Starke190051
Owen184254
Fulton179937
Jay178828
Carroll176919
Perry174136
Orange171451
Rush165722
Vermillion161543
Franklin160135
Tipton150041
Parke140216
Pike128633
Blackford120727
Pulaski107844
Newton96832
Brown95340
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Benton92513
Martin80314
Warren76014
Switzerland7568
Union67510
Ohio54211
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Ohio Coronavirus Cases

Data is updated nightly.

Cases: 978471

Reported Deaths: 17501
CountyCasesDeaths
Franklin1130371251
Cuyahoga969331881
Hamilton739231067
Montgomery47536923
Summit40720831
Butler35859531
Lucas35802720
Stark29602826
Warren22593275
Lorain22218424
Mahoning19586551
Lake18564332
Clermont18541205
Delaware16614121
Licking15096194
Fairfield14653188
Trumbull14437424
Greene13664221
Medina13531237
Clark12394256
Wood11670170
Portage11140172
Allen10822216
Richland10376188
Miami10065194
Muskingum8244117
Columbiana8174210
Pickaway8096111
Tuscarawas8083232
Marion8021127
Wayne7939199
Erie6972146
Ross6178132
Geauga6118142
Hancock6032121
Scioto600988
Ashtabula6002154
Lawrence527886
Union516741
Darke5052116
Belmont5000137
Huron4862108
Jefferson4843137
Sandusky4800112
Washington475596
Seneca4738111
Athens466449
Mercer459781
Auglaize456682
Shelby442679
Knox4056105
Putnam400593
Madison395755
Fulton383461
Ashland383083
Brown375252
Defiance374088
Crawford360198
Logan357673
Preble354187
Clinton342755
Highland328551
Ottawa325471
Williams303568
Jackson292046
Champaign291149
Guernsey288945
Perry271348
Fayette270143
Morrow261637
Henry247961
Hardin247359
Holmes244497
Coshocton241156
Van Wert230357
Gallia223938
Adams218339
Pike217328
Wyandot212450
Hocking195154
Carroll182143
Paulding161134
Meigs136031
Noble129233
Monroe117637
Morgan102220
Harrison100731
Vinton76713
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