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Trump and Macron: Strange bedfellows

Quest's Profitable MomentThe relationship between French President Emmanuel Macron and U.S. President Donald T...

Posted: Feb 2, 2018 12:10 PM
Updated: Feb 2, 2018 12:10 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: 764448

Reported Deaths: 13965
CountyCasesDeaths
Marion1049701803
Lake567981029
Allen42685698
St. Joseph37253568
Hamilton37131426
Elkhart29699470
Tippecanoe23347230
Vanderburgh23106404
Porter19538327
Johnson18755391
Hendricks18012321
Madison13463345
Clark13450198
Vigo12789255
LaPorte12533224
Monroe12494178
Delaware11100198
Howard10612237
Kosciusko9736123
Hancock8707149
Bartholomew8235157
Warrick8031157
Floyd7975181
Grant7337181
Wayne7222201
Boone7145105
Morgan6886142
Marshall6323116
Dubois6267118
Cass6083111
Dearborn598578
Noble595790
Henry5939111
Jackson514677
Shelby509097
Lawrence4901127
Gibson460696
Montgomery454492
Clinton453555
DeKalb451585
Harrison450576
Whitley414745
Huntington411781
Steuben409560
Miami404073
Jasper399455
Knox387091
Putnam383762
Wabash367383
Adams351656
Ripley350471
Jefferson340486
White338954
Daviess3084100
Wells302281
Greene292285
Decatur291493
Fayette285864
Posey280435
Scott278058
LaGrange276972
Clay273048
Washington252437
Randolph247083
Jennings238149
Spencer237531
Fountain233750
Starke229859
Owen221059
Sullivan219043
Fulton207645
Jay202832
Carroll196522
Orange190556
Perry189139
Vermillion179644
Rush177027
Franklin171635
Tipton171547
Parke153616
Pike141234
Blackford137832
Pulaski122948
Newton122436
Benton109215
Brown105743
Crawford105116
Martin92515
Warren87615
Switzerland8308
Union73510
Ohio58211
Unassigned0428

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1120922

Reported Deaths: 20467
CountyCasesDeaths
Franklin1300711493
Cuyahoga1169882259
Hamilton822191259
Montgomery533351059
Summit487911014
Lucas43688832
Butler39879614
Stark33752937
Lorain25937509
Warren24850312
Mahoning22663612
Lake21429396
Clermont20338260
Delaware19088138
Licking16820227
Trumbull16744491
Fairfield16735207
Medina15800276
Greene15468254
Clark14325308
Portage13391218
Wood13327201
Allen12026245
Richland11707213
Miami10976228
Wayne9238227
Columbiana9182236
Muskingum9114137
Pickaway8729123
Tuscarawas8706254
Marion8691140
Erie8109166
Ashtabula7264179
Hancock7039134
Ross7004165
Geauga6939153
Scioto6636108
Belmont6203179
Lawrence5905104
Union590049
Jefferson5718162
Huron5622122
Sandusky5467130
Darke5436130
Seneca5373128
Washington5352111
Athens526260
Auglaize506787
Mercer490285
Shelby480497
Knox4603112
Madison446966
Ashland441898
Defiance438099
Fulton435275
Putnam4349104
Crawford4103111
Brown408862
Preble3940107
Logan391479
Clinton387966
Ottawa374981
Highland364668
Williams355478
Champaign347560
Guernsey329554
Jackson321154
Perry298050
Morrow294543
Fayette287950
Hardin278865
Henry276967
Holmes2725102
Coshocton272461
Van Wert251465
Gallia248450
Adams247758
Pike244537
Wyandot235257
Hocking221763
Carroll200349
Paulding179342
Meigs150740
Noble137639
Monroe137445
Harrison115038
Morgan111524
Vinton87117
Unassigned03
Fort Wayne
Partly Cloudy
83° wxIcon
Hi: 87° Lo: 71°
Feels Like: 88°
Angola
Partly Cloudy
86° wxIcon
Hi: 86° Lo: 70°
Feels Like: 93°
Huntington
Partly Cloudy
83° wxIcon
Hi: 85° Lo: 69°
Feels Like: 89°
Decatur
Partly Cloudy
83° wxIcon
Hi: 86° Lo: 69°
Feels Like: 88°
Van Wert
Partly Cloudy
85° wxIcon
Hi: 87° Lo: 68°
Feels Like: 89°
Showers and storms are possible early Sunday morning, but we'll be dry by sunrise. Partly sunny skies and hot conditions are expected for the second half of the weekend.
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